Plug Power, Inc. (NASDAQ:PLUG) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other research analysts have also recently commented on PLUG. Zacks Investment Research raised shares of Plug Power from a “sell” rating to a “hold” rating in a research report on Saturday, March 11th. Cowen and Company reissued an “outperform” rating and set a $1.75 target price on shares of Plug Power in a research report on Saturday, March 11th. Rodman & Renshaw boosted their target price on shares of Plug Power from $3.00 to $4.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. FBR & Co boosted their target price on shares of Plug Power from $2.50 to $3.00 and gave the stock an “outperform” rating in a research report on Thursday, April 6th. Finally, HC Wainwright set a $4.00 target price on shares of Plug Power and gave the stock a “buy” rating in a research report on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Plug Power currently has an average rating of “Hold” and a consensus target price of $2.80.

Shares of Plug Power (NASDAQ:PLUG) traded down 1.93% during midday trading on Friday, hitting $2.03. 2,599,816 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $2.03 and its 200-day moving average is $1.59. Plug Power has a 1-year low of $0.83 and a 1-year high of $2.70. The stock’s market cap is $453.61 million.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Tuesday, May 9th. The electronics maker reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.06. Plug Power had a negative return on equity of 68.47% and a negative net margin of 81.41%. The firm had revenue of $15.20 million for the quarter, compared to analyst estimates of $24.90 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. Analysts predict that Plug Power will post ($0.24) earnings per share for the current fiscal year.

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Hedge funds have recently modified their holdings of the company. Hudson Bay Capital Management LP bought a new stake in shares of Plug Power during the fourth quarter worth about $12,264,000. Vanguard Group Inc. raised its stake in shares of Plug Power by 10.2% in the first quarter. Vanguard Group Inc. now owns 7,988,456 shares of the electronics maker’s stock worth $11,024,000 after buying an additional 738,875 shares during the period. Parametric Portfolio Associates LLC bought a new stake in shares of Plug Power during the first quarter worth about $649,000. Geode Capital Management LLC raised its stake in shares of Plug Power by 30.4% in the first quarter. Geode Capital Management LLC now owns 1,750,660 shares of the electronics maker’s stock worth $2,415,000 after buying an additional 407,653 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Plug Power by 51.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 768,662 shares of the electronics maker’s stock worth $1,061,000 after buying an additional 262,147 shares during the period. Institutional investors and hedge funds own 17.54% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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