Shares of Plug Power, Inc. (NASDAQ:PLUG) have earned an average rating of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $2.88.

PLUG has been the subject of several recent research reports. Cowen and Company set a $3.00 price target on Plug Power and gave the company a “buy” rating in a report on Monday, July 10th. ValuEngine cut shares of Plug Power from a “hold” rating to a “sell” rating in a report on Thursday, May 18th. BidaskClub cut shares of Plug Power from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research raised shares of Plug Power from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Rodman & Renshaw reissued a “buy” rating and issued a $4.00 target price on shares of Plug Power in a report on Monday, July 24th.

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Plug Power (NASDAQ:PLUG) traded down 1.84% during midday trading on Friday, reaching $2.13. The company’s stock had a trading volume of 1,602,785 shares. The firm’s 50-day moving average price is $2.19 and its 200-day moving average price is $1.92. Plug Power has a 52 week low of $0.83 and a 52 week high of $2.70. The stock’s market capitalization is $478.67 million.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Tuesday, August 8th. The electronics maker reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.03. Plug Power had a negative net margin of 112.95% and a negative return on equity of 86.35%. The company had revenue of $22.60 million during the quarter, compared to analyst estimates of $28.58 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts anticipate that Plug Power will post ($0.32) earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC bought a new position in Plug Power in the 2nd quarter worth $102,000. Adalta Capital Management LLC bought a new position in Plug Power in the 2nd quarter worth $106,000. Private Advisor Group LLC raised its holdings in Plug Power by 160.9% in the 1st quarter. Private Advisor Group LLC now owns 51,318 shares of the electronics maker’s stock worth $115,000 after acquiring an additional 31,646 shares during the period. Archford Capital Strategies LLC raised its holdings in Plug Power by 20,422.2% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,847 shares of the electronics maker’s stock worth $115,000 after acquiring an additional 1,838 shares during the period. Finally, Creative Planning raised its holdings in Plug Power by 41.5% in the 2nd quarter. Creative Planning now owns 70,472 shares of the electronics maker’s stock worth $144,000 after acquiring an additional 20,673 shares during the period. Hedge funds and other institutional investors own 23.79% 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.

Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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