Plug Power, Inc. (NASDAQ:PLUG) has earned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $2.80.

PLUG has been the topic of a number of research analyst reports. Rodman & Renshaw upped their target price on shares of Plug Power from $3.00 to $4.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. FBR & Co upped their target price on shares of Plug Power from $2.50 to $3.00 and gave the stock an “outperform” rating in a research note on Thursday, April 6th. HC Wainwright set a $4.00 target price on shares of Plug Power and gave the stock a “buy” rating in a research note on Thursday, April 6th. Cowen and Company set a $3.00 target price on shares of Plug Power and gave the stock a “buy” rating in a research note on Thursday, April 6th. Finally, Roth Capital set a $2.00 target price on shares of Plug Power and gave the stock a “hold” rating in a research note on Saturday, April 8th.

Shares of Plug Power (NASDAQ:PLUG) traded up 15.09% during mid-day trading on Friday, reaching $2.44. 31,707,303 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $2.08 and a 200 day moving average price of $1.67. Plug Power has a 12-month low of $0.83 and a 12-month high of $2.70. The firm’s market capitalization is $545.23 million.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Tuesday, May 9th. The electronics maker reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.06. The company 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%. Plug Power’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) earnings per share. Analysts anticipate that Plug Power will post ($0.25) EPS for the current fiscal year.

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Several large investors have recently made changes to their positions in PLUG. Hudson Bay Capital Management LP acquired a new stake in shares of Plug Power during the fourth quarter valued at $12,264,000. Vanguard Group Inc. boosted 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 valued at $11,024,000 after buying an additional 738,875 shares during the last quarter. State Street Corp boosted its stake in shares of 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 during the last quarter. Geode Capital Management LLC boosted 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 valued at $2,415,000 after buying an additional 407,653 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Plug Power by 14.1% in the first quarter. Bank of New York Mellon Corp now owns 783,035 shares of the electronics maker’s stock valued at $1,080,000 after buying an additional 96,793 shares during the last quarter. 17.58% of the stock is owned by hedge funds and other institutional investors.

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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