Plug Power Inc (NASDAQ:PLUG)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $2.95 and last traded at $2.95, with a volume of 76380 shares traded. The stock had previously closed at $2.80.

PLUG has been the topic of a number of analyst reports. BidaskClub upgraded Plug Power from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th. ValuEngine downgraded Plug Power from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research downgraded Plug Power from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. B. Riley set a $3.50 price objective on Plug Power and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Cowen set a $3.00 price objective on Plug Power and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Plug Power currently has a consensus rating of “Hold” and a consensus target price of $2.96.

The stock has a market cap of $709.32 million, a PE ratio of -8.33 and a beta of 1.45. The stock has a 50-day moving average of $2.52 and a 200 day moving average of $2.41.

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

Hedge funds have recently bought and sold shares of the business. Private Advisor Group LLC increased its stake in Plug Power by 55.1% during the second quarter. Private Advisor Group LLC now owns 15,850 shares of the electronics maker’s stock worth $36,000 after acquiring an additional 5,633 shares during the last quarter. Fosun International Ltd acquired a new stake in Plug Power during the second quarter worth $53,000. Advisor Group Inc. increased its stake in Plug Power by 26.7% during the second quarter. Advisor Group Inc. now owns 97,340 shares of the electronics maker’s stock worth $219,000 after acquiring an additional 20,500 shares during the last quarter. Balyasny Asset Management LLC acquired a new stake in Plug Power during the second quarter worth $504,000. Finally, First Trust Advisors LP increased its stake in Plug Power by 3.8% during the first quarter. First Trust Advisors LP now owns 227,250 shares of the electronics maker’s stock worth $545,000 after acquiring an additional 8,331 shares during the last quarter. 32.15% of the stock is owned by institutional investors.

About Plug Power (NASDAQ:PLUG)

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.

Read More: Return on Investment (ROI)

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