Plug Power, Inc. (NASDAQ:PLUG) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, July 25th.
Other equities analysts also recently issued research reports about the stock. Roth Capital set a $2.00 price target on shares of Plug Power and gave the company a “hold” rating in a report on Saturday, April 8th. Rodman & Renshaw boosted their price objective on Plug Power from $3.00 to $4.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. FBR & Co reiterated an “outperform” rating and issued a $3.00 target price on shares of Plug Power in a report on Wednesday, May 3rd. Cowen and Company set a $3.00 price target on Plug Power and gave the company a “buy” rating in a research note on Monday, July 10th. Finally, ValuEngine cut Plug Power from a “hold” rating to a “sell” rating in a research note on Thursday, May 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Plug Power currently has an average rating of “Hold” and a consensus price target of $2.83.
Shares of Plug Power (NASDAQ:PLUG) remained flat at $2.25 during midday trading on Tuesday. 1,984,533 shares of the company traded hands. The company’s 50-day moving average price is $2.16 and its 200 day moving average price is $1.73. Plug Power has a 12 month low of $0.83 and a 12 month high of $2.70. The company’s market cap is $502.77 million.
Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Tuesday, May 9th. The electronics maker reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.06. The company had revenue of $15.20 million during the quarter, compared to the consensus estimate of $24.90 million. Plug Power had a negative return on equity of 68.47% and a negative net margin of 81.41%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) EPS. Equities research analysts expect that Plug Power will post ($0.24) EPS for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP bought a new position in Plug Power during the fourth quarter valued at about $12,264,000. Vanguard Group Inc. raised its position in Plug Power by 10.2% in the first quarter. Vanguard Group Inc. now owns 7,988,456 shares of the electronics maker’s stock valued at $11,024,000 after buying an additional 738,875 shares in the last quarter. State Street Corp raised its position in Plug Power by 7.2% in the fourth quarter. State Street Corp now owns 2,984,022 shares of the electronics maker’s stock valued at $3,578,000 after buying an additional 199,300 shares in the last quarter. Geode Capital Management LLC raised its position in Plug Power by 30.4% in the first quarter. Geode Capital Management LLC now owns 1,750,660 shares of the electronics maker’s stock valued at $2,415,000 after buying an additional 407,653 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Plug Power by 58.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,217,301 shares of the electronics maker’s stock valued at $2,484,000 after buying an additional 448,639 shares in the last quarter. Hedge funds and other institutional investors own 17.52% of the company’s stock.
About Plug Power
Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.
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