Plug Power Receives a Buy from Cowen & Co.

By Austin Angelo

In a report issued on September 14, Jeff Osborne from Cowen & Co. reiterated a Buy rating on Plug Power (NASDAQ: PLUG), with a price target of $3. The company’s shares closed on Friday at $2.25.

According to TipRanks.com, Osborne is a 3-star analyst with an average return of 0.9% and a 49.8% success rate. Osborne covers the Industrial Goods sector, focusing on stocks such as Honeywell International, Ballard Power Systems, and Capstone Turbine Corp.

Plug Power has an analyst consensus of Moderate Buy, with a price target consensus of $2.96.

Based on Plug Power’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $20.78 million and GAAP net loss of $42.62 million. In comparison, last year the company earned revenue of $20.46 million and had a GAAP net loss of $13.13 million.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock.

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Plug Power, Inc. provides alternative energy technology, which focuses on the design, development, commercialization and manufacture of fuel cell system. It sells and develops fuel cell products to replace lead acid batteries in material handling vehicles and industrial trucks.