BidaskClub upgraded shares of Plug Power, Inc. (NASDAQ:PLUG) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

A number of other equities research analysts also recently weighed in on the company. 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. Cowen and Company set a $3.00 target price on Plug Power and gave the stock a buy rating in a report on Thursday, April 6th. Roth Capital downgraded Plug Power from a neutral rating to a sell rating and lowered their target price for the stock from $2.25 to $1.30 in a report on Wednesday, May 17th. ValuEngine downgraded Plug Power from a hold rating to a sell rating in a report on Thursday, May 18th. Finally, Rodman & Renshaw lifted their target price on Plug Power from $3.00 to $4.00 and gave the stock a buy rating in a report on Thursday, April 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Plug Power presently has an average rating of Hold and an average price target of $2.83.

Plug Power (PLUG) traded up 2.22% during mid-day trading on Tuesday, reaching $2.30. The company had a trading volume of 4,483,461 shares. The firm’s 50-day moving average is $2.15 and its 200-day moving average is $1.71. Plug Power has a one year low of $0.83 and a one year high of $2.70. The firm’s market capitalization is $513.94 million.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Tuesday, May 9th. The electronics maker reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.06. The business 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 company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. On average, equities research analysts anticipate that Plug Power will post ($0.24) earnings per share for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC increased its stake in Plug Power by 160.9% in the first quarter. Private Advisor Group LLC now owns 51,318 shares of the electronics maker’s stock valued at $115,000 after buying an additional 31,646 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in Plug Power during the fourth quarter valued at approximately $12,264,000. State Street Corp increased its stake 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. Asset Management One Co. Ltd. increased its stake in Plug Power by 34.4% in the first quarter. Asset Management One Co. Ltd. now owns 286,299 shares of the electronics maker’s stock valued at $395,000 after buying an additional 73,274 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in Plug Power by 1.8% in the fourth quarter. Teachers Advisors LLC now owns 385,028 shares of the electronics maker’s stock valued at $462,000 after buying an additional 6,680 shares in the last quarter. Hedge funds and other institutional investors own 17.61% 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.

Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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