Oppenheimer analyst Colin Rusch maintained a Buy rating on Plug Power (PLUG) today and set a price target of $6.00. The company’s shares closed last Thursday at $4.37.
According to TipRanks.com, Rusch is a 5-star analyst with an average return of 19.7% and a 51.7% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as SolarEdge Technologies, Westport Fuel Systems, and Canadian Solar.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Plug Power with a $6.13 average price target, which is a 46.3% upside from current levels. In a report issued on April 23, Canaccord Genuity also maintained a Buy rating on the stock with a $7.00 price target.
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Based on Plug Power’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $98.2 million and GAAP net loss of $11.74 million. In comparison, last year the company earned revenue of $59.82 million and had a GAAP net loss of $16.85 million.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PLUG in relation to earlier this year.
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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. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses. The company was founded by George C. McNamee and Larry G. Garberding on June 27, 1997 and is headquartered in Latham, NY.
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