In a report released today, Chip Moore from Canaccord Genuity maintained a Buy rating on Plug Power (NASDAQ: PLUG), with a price target of $5. The company’s shares opened today at $1.91.
According to TipRanks.com, Moore is a 4-star analyst with an average return of 13.1% and a 74.3% success rate. Moore covers the Consumer Goods sector, focusing on stocks such as Renewable Energy Group, Darling Ingredients, and Badger Meter.
Plug Power has an analyst consensus of Strong Buy, with a price target consensus of $4.17, which is an 118.3% upside from current levels. In a report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $4 price target.
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Based on Plug Power’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $25.87 million. In comparison, last year the company had a GAAP net loss of $42.62 million.
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Plug Power, Inc. provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets.
