Rodman & Renshaw reaffirmed their buy rating on shares of Plug Power, Inc. (NASDAQ:PLUG) in a research report sent to investors on Monday, July 24th. Rodman & Renshaw currently has a $4.00 price objective on the electronics maker’s stock.
Several other equities analysts have also issued reports on PLUG. Roth Capital set a $2.00 target price on Plug Power and gave the stock a hold rating in a research note on Saturday, April 8th. FBR & Co increased their target price on Plug Power from $2.50 to $3.00 and gave the stock an outperform rating in a research note on Thursday, April 6th. Zacks Investment Research downgraded Plug Power from a hold rating to a strong sell rating in a report on Wednesday, July 12th. Cowen and Company set a $3.00 price target on Plug Power and gave the stock a buy rating in a report on Monday, July 10th. Finally, ValuEngine upgraded Plug Power from a sell rating to a hold rating in a report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $2.83.
Shares of Plug Power (PLUG) traded up 3.00% during trading on Monday, hitting $2.06. The stock had a trading volume of 4,507,306 shares. The stock’s market cap is $462.94 million. The company’s 50 day moving average price is $2.16 and its 200 day moving average price is $1.78. Plug Power has a 12 month low of $0.83 and a 12 month high of $2.70.
Plug Power (NASDAQ:PLUG) last posted its earnings results on Tuesday, August 8th. The electronics maker reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 period in the previous year, the company posted ($0.04) EPS. Plug Power’s revenue was up 10.5% on a year-over-year basis. Equities research analysts expect that Plug Power will post ($0.24) earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the stock. Virtu KCG Holdings LLC boosted its stake in shares of Plug Power by 126.4% in the second quarter. Virtu KCG Holdings LLC now owns 92,497 shares of the electronics maker’s stock worth $189,000 after buying an additional 51,638 shares during the period. EAM Investors LLC purchased a new stake in shares of Plug Power during the second quarter worth about $606,000. Bluestein R H & Co. boosted its stake in shares of Plug Power by 64.0% in the second quarter. Bluestein R H & Co. now owns 123,000 shares of the electronics maker’s stock worth $251,000 after buying an additional 48,000 shares during the period. ARK Investment Management LLC purchased a new stake in shares of Plug Power during the second quarter worth about $397,000. Finally, Vanguard Group Inc. boosted its stake in shares of Plug Power by 30.6% in the second quarter. Vanguard Group Inc. now owns 10,432,461 shares of the electronics maker’s stock worth $21,283,000 after buying an additional 2,444,005 shares during the period. 17.54% of the stock is owned by hedge funds and other institutional investors.
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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