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H.C. Wainwright Thinks Plug Power’s Stock is Going to Recover

In a report released today, Amit Dayal from H.C. Wainwright maintained a Buy rating on Plug Power (PLUGResearch Report), with a price target of $78.00. The company’s shares closed last Monday at $16.63, close to its 52-week low of $16.55.

According to TipRanks.com, Dayal is a top 25 analyst with an average return of 49.2% and a 41.6% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as TOMI Environmental Solutions, Pioneer Power Solutions, and Capstone Green Energy.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Plug Power with a $39.73 average price target, implying an 112.2% upside from current levels. In a report issued on April 29, Evercore ISI also assigned a Buy rating to the stock with a $46.00 price target.

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Plug Power’s market cap is currently $9.61B and has a P/E ratio of -20.43.

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New York-based Plug Power, Inc. is an electrical equipment manufacturing company. It develops hydrogen fuel cell systems that replace conventional batteries in equipment and vehicles powered by electricity.

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