BidaskClub upgraded shares of Plug Power (NASDAQ:PLUG) from a hold rating to a buy rating in a research note issued to investors on Wednesday, BidAskClub reports.

A number of other equities research analysts also recently commented on PLUG. HC Wainwright reissued a buy rating and issued a $4.00 price objective on shares of Plug Power in a research report on Wednesday, August 7th. Zacks Investment Research raised shares of Plug Power from a sell rating to a hold rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $2.96.

Plug Power stock opened at $2.80 on Wednesday. Plug Power has a 52-week low of $0.99 and a 52-week high of $2.94. The company has a current ratio of 1.49, a quick ratio of 0.78 and a debt-to-equity ratio of 66.88. The company’s 50 day moving average is $2.25 and its two-hundred day moving average is $2.36.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Tuesday, August 6th. The electronics maker reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.02. Plug Power had a negative net margin of 44.51% and a negative return on equity of 6,435.09%. The company had revenue of $57.07 million for the quarter, compared to the consensus estimate of $52.47 million. During the same period in the prior year, the firm posted ($0.08) EPS. The company’s quarterly revenue was up 62.0% compared to the same quarter last year. As a group, equities analysts forecast that Plug Power will post -0.36 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the business. Private Advisor Group LLC increased its position in shares of Plug Power by 55.1% in the 2nd quarter. Private Advisor Group LLC now owns 15,850 shares of the electronics maker’s stock valued at $36,000 after purchasing an additional 5,633 shares during the last quarter. FormulaFolio Investments LLC increased its position in shares of Plug Power by 52.8% in the 1st quarter. FormulaFolio Investments LLC now owns 16,200 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 5,600 shares during the last quarter. Fosun International Ltd purchased a new stake in shares of Plug Power in the 2nd quarter valued at approximately $53,000. SG Americas Securities LLC purchased a new stake in shares of Plug Power in the 1st quarter valued at approximately $55,000. Finally, BerganKDV Wealth Management LLC increased its position in shares of Plug Power by 736.7% in the 1st quarter. BerganKDV Wealth Management LLC now owns 25,100 shares of the electronics maker’s stock valued at $60,000 after purchasing an additional 22,100 shares during the last quarter. 32.15% of the stock is currently owned by institutional investors.

Plug Power Company Profile

Plug Power Inc, an alternative energy technology provider, engages in the design, development, manufacture, and commercialization of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.

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