Plug Power (NASDAQ:PLUG) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other brokerages also recently commented on PLUG. CIBC started coverage on shares of Plug Power in a report on Thursday, August 23rd. They set an “outperform” rating and a $2.50 target price for the company. BidaskClub downgraded shares of Plug Power from a “buy” rating to a “hold” rating in a report on Saturday, July 28th. B. Riley set a $4.00 price objective on shares of Plug Power and gave the stock a “buy” rating in a research note on Wednesday, August 22nd. Zacks Investment Research cut shares of Plug Power from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. Finally, HC Wainwright set a $4.00 price objective on shares of Plug Power and gave the stock a “buy” rating in a research note on Friday, August 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $3.38.

Shares of PLUG stock opened at $1.86 on Friday. The stock has a market cap of $401.67 million, a P/E ratio of -3.10 and a beta of 1.23. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 4.16. Plug Power has a 52 week low of $1.53 and a 52 week high of $3.21.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Thursday, August 9th. The electronics maker reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The company had revenue of $39.93 million for the quarter, compared to the consensus estimate of $40.52 million. Plug Power had a negative return on equity of 108.78% and a negative net margin of 66.16%. The business’s quarterly revenue was up 76.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.10) EPS. research analysts forecast that Plug Power will post -0.19 EPS for the current year.

In other Plug Power news, Director Gregory B. Graves sold 31,343 shares of Plug Power stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $1.73, for a total value of $54,223.39. Following the completion of the sale, the director now owns 43,296 shares in the company, valued at approximately $74,902.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.10% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of PLUG. BlackRock Inc. raised its position in shares of Plug Power by 0.9% in the 2nd quarter. BlackRock Inc. now owns 14,625,123 shares of the electronics maker’s stock valued at $29,543,000 after buying an additional 125,482 shares in the last quarter. Odey Asset Management Group Ltd raised its position in shares of Plug Power by 90.3% in the 2nd quarter. Odey Asset Management Group Ltd now owns 4,910,000 shares of the electronics maker’s stock valued at $9,918,000 after buying an additional 2,330,000 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Plug Power by 2.3% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 4,500,000 shares of the electronics maker’s stock valued at $8,505,000 after buying an additional 100,000 shares in the last quarter. Northern Trust Corp raised its position in shares of Plug Power by 1.3% in the 1st quarter. Northern Trust Corp now owns 2,649,873 shares of the electronics maker’s stock valued at $5,008,000 after buying an additional 33,445 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Plug Power by 3.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,168,416 shares of the electronics maker’s stock valued at $2,209,000 after buying an additional 35,299 shares in the last quarter. Institutional investors and hedge funds own 30.47% of the company’s stock.

Plug Power Company Profile

Plug Power Inc, an alternative energy technology provider, engages in the design, development, commercialization, and manufacture 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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Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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