Plug Power, Inc. (NASDAQ:PLUG)‘s stock had its “buy” rating reiterated by equities research analysts at Cowen and Company in a research report issued to clients and investors on Sunday. They presently have a $3.00 price objective on the electronics maker’s stock. Cowen and Company’s target price suggests a potential upside of 33.33% from the stock’s previous close.

Other analysts have also issued research reports about the company. Rodman & Renshaw restated a “buy” rating and set a $4.00 price target on shares of Plug Power in a report on Monday, July 24th. BidaskClub upgraded Plug Power from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Roth Capital restated a “sell” rating and set a $1.30 price target on shares of Plug Power in a report on Sunday, July 23rd. Zacks Investment Research upgraded Plug Power from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, HC Wainwright reiterated a “buy” rating and issued a $4.00 target price on shares of Plug Power in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $2.83.

Plug Power (NASDAQ:PLUG) opened at 2.25 on Friday. The company’s market cap is $505.64 million. The stock has a 50 day moving average of $2.17 and a 200 day moving average of $1.96. Plug Power has a one year low of $0.83 and a one year high of $2.70.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Tuesday, August 8th. The electronics maker reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $28.58 million. During the same quarter in the previous year, the company posted ($0.04) EPS. The business’s quarterly revenue 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 fiscal year.

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Hedge funds have recently added to or reduced their stakes in the business. Archford Capital Strategies LLC increased its stake in Plug Power by 20,422.2% in the second quarter. Archford Capital Strategies LLC now owns 1,847 shares of the electronics maker’s stock worth $115,000 after purchasing an additional 1,838 shares during the period. Brighton Jones LLC purchased a new stake in Plug Power in the second quarter worth $102,000. Private Advisor Group LLC increased its stake in Plug Power by 160.9% in the first quarter. Private Advisor Group LLC now owns 51,318 shares of the electronics maker’s stock worth $115,000 after purchasing an additional 31,646 shares during the period. Adalta Capital Management LLC purchased a new stake in Plug Power in the second quarter worth $106,000. Finally, Creative Planning increased its stake in Plug Power by 41.5% in the second quarter. Creative Planning now owns 70,472 shares of the electronics maker’s stock worth $144,000 after purchasing an additional 20,673 shares during the period. Institutional investors and hedge funds 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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