Roth Capital reissued their sell rating on shares of Plug Power, Inc. (NASDAQ:PLUG) in a report issued on Sunday, July 23rd. The brokerage currently has a $1.30 price objective on the electronics maker’s stock.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research raised Plug Power from a strong sell rating to a hold rating in a report on Wednesday, July 19th. Cowen and Company set a $3.00 target price on Plug Power and gave the stock a buy rating in a report on Monday, July 10th. ValuEngine raised Plug Power from a sell rating to a hold rating in a report on Friday, July 7th. FBR & Co set a $3.00 target price on Plug Power and gave the stock an outperform rating in a report on Wednesday, May 10th. Finally, HC Wainwright set a $4.00 target price on Plug Power and gave the stock a buy rating in a report on Thursday, April 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $2.83.
Plug Power (NASDAQ PLUG) opened at 2.14 on Friday. Plug Power has a 52 week low of $0.83 and a 52 week high of $2.70. The firm’s market cap is $478.19 million. The stock’s 50 day moving average price is $2.17 and its 200 day moving average price is $1.77.
Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Tuesday, August 8th. The electronics maker reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. Plug Power had a negative net margin of 112.95% and a negative return on equity of 91.34%. The firm had revenue of $22.60 million for the quarter, compared to analyst estimates of $28.58 million. During the same period last year, the business earned ($0.04) EPS. The company’s revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts predict that Plug Power will post ($0.24) EPS for the current year.
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Several hedge funds and other institutional investors have recently made changes to their positions in PLUG. State Street Corp increased its position in shares of Plug Power by 7.2% in the fourth quarter. State Street Corp now owns 2,984,022 shares of the electronics maker’s stock worth $3,578,000 after buying an additional 199,300 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Plug Power during the fourth quarter worth about $12,264,000. Teachers Advisors LLC increased its position in shares of Plug Power by 1.8% in the fourth quarter. Teachers Advisors LLC now owns 385,028 shares of the electronics maker’s stock worth $462,000 after buying an additional 6,680 shares in the last quarter. Nationwide Fund Advisors increased its position in shares of Plug Power by 4.6% in the first quarter. Nationwide Fund Advisors now owns 117,225 shares of the electronics maker’s stock worth $162,000 after buying an additional 5,127 shares in the last quarter. Finally, IFC Holdings Incorporated FL increased its position in shares of Plug Power by 33.5% in the first quarter. IFC Holdings Incorporated FL now owns 135,500 shares of the electronics maker’s stock worth $189,000 after buying an additional 34,000 shares in the last quarter. 17.54% of the stock is currently owned by institutional investors.
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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