Shares of Plug Power, Inc. (NASDAQ:PLUG) have been given a consensus recommendation of “Hold” by the nine analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $2.88.

Several analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Plug Power from a “buy” rating to a “hold” rating in a research report on Saturday. Cowen and Company set a $3.00 target price on shares of Plug Power and gave the stock a “buy” rating in a research report on Thursday, August 10th. HC Wainwright set a $4.00 price objective on shares of Plug Power and gave the company a “buy” rating in a research note on Wednesday, August 9th. BidaskClub cut shares of Plug Power from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, FBR & Co restated an “outperform” rating and set a $3.50 price objective (up from $3.00) on shares of Plug Power in a research note on Tuesday, July 25th.

Hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC acquired a new stake in shares of Plug Power during the second quarter valued at approximately $102,000. Private Advisor Group LLC boosted its stake in shares of Plug Power by 160.9% in the first quarter. Private Advisor Group LLC now owns 51,318 shares of the electronics maker’s stock valued at $115,000 after buying an additional 31,646 shares during the last quarter. Creative Planning boosted its stake in shares of Plug Power by 41.5% in the second quarter. Creative Planning now owns 70,472 shares of the electronics maker’s stock valued at $144,000 after buying an additional 20,673 shares during the last quarter. American International Group Inc. boosted its stake in shares of Plug Power by 7.5% in the first quarter. American International Group Inc. now owns 111,649 shares of the electronics maker’s stock valued at $154,000 after buying an additional 7,773 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of Plug Power during the first quarter valued at approximately $154,000. Institutional investors and hedge funds own 17.86% of the company’s stock.

Shares of Plug Power (PLUG) traded down 1.88% on Tuesday, reaching $2.09. 2,037,548 shares of the company were exchanged. Plug Power has a 52 week low of $0.83 and a 52 week high of $2.70. The stock’s market capitalization is $469.69 million. The firm’s 50 day moving average price is $2.16 and its 200 day moving average price is $1.79.

Plug Power (NASDAQ:PLUG) last released its earnings results on Tuesday, August 8th. The electronics maker reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by $0.03. The company had revenue of $22.60 million for the quarter, compared to analysts’ expectations of $28.58 million. Plug Power had a negative return on equity of 86.35% and a negative net margin of 112.95%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) EPS. Equities research analysts anticipate that Plug Power will post ($0.34) EPS for the current year.

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Plug Power Company Profile

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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