Plug Power, Inc. (PLUG) Given Consensus Recommendation of “Hold” by Brokerages
Plug Power, Inc. (NASDAQ:PLUG) has received a consensus rating of “Hold” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $2.88.
A number of equities research analysts have recently weighed in on the company. ValuEngine raised Plug Power from a “sell” rating to a “hold” rating in a research note on Friday, July 7th. Cowen and Company set a $3.00 target price on Plug Power and gave the stock a “buy” rating in a research note on Monday, July 10th. Zacks Investment Research lowered Plug Power from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Roth Capital restated a “sell” rating and set a $1.30 target price on shares of Plug Power in a report on Sunday, July 23rd. Finally, Rodman & Renshaw restated a “buy” rating and set a $4.00 target price on shares of Plug Power in a report on Monday, July 24th.
In related news, Director George C. Mcnamee acquired 200,000 shares of Plug Power stock in a transaction dated Friday, September 15th. The shares were acquired at an average cost of $2.20 per share, for a total transaction of $440,000.00. Following the completion of the purchase, the director now owns 486,131 shares in the company, valued at $1,069,488.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.90% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Plug Power by 30.6% during the 2nd quarter. Vanguard Group Inc. now owns 10,432,461 shares of the electronics maker’s stock worth $21,283,000 after purchasing an additional 2,444,005 shares in the last quarter. State Street Corp increased its holdings in Plug Power by 14.6% during the 2nd quarter. State Street Corp now owns 3,742,566 shares of the electronics maker’s stock worth $7,635,000 after purchasing an additional 477,438 shares during the period. Northern Trust Corp raised its position in Plug Power by 39.5% in the 2nd quarter. Northern Trust Corp now owns 2,828,390 shares of the electronics maker’s stock valued at $5,770,000 after purchasing an additional 800,320 shares in the last quarter. Geode Capital Management LLC raised its position in Plug Power by 30.4% in the 1st quarter. Geode Capital Management LLC now owns 1,750,660 shares of the electronics maker’s stock valued at $2,415,000 after purchasing an additional 407,653 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Plug Power by 58.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,217,301 shares of the electronics maker’s stock valued at $2,484,000 after purchasing an additional 448,639 shares in the last quarter. 23.49% of the stock is owned by hedge funds and other institutional investors.
Plug Power (NASDAQ:PLUG) traded down 0.72% during mid-day trading on Wednesday, hitting $2.77. The company had a trading volume of 8,837,843 shares. The company has a 50-day moving average price of $2.31 and a 200 day moving average price of $2.11. Plug Power has a 52-week low of $0.83 and a 52-week high of $2.89. The company’s market capitalization is $622.50 million.
Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Tuesday, August 8th. The electronics maker reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). Plug Power had a negative return on equity of 86.35% and a negative net margin of 112.95%. The firm had revenue of $22.60 million for the quarter, compared to analyst estimates of $28.58 million. During the same quarter last year, the company earned ($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 forecast that Plug Power will post ($0.32) EPS for the current fiscal year.
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.
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