Plug Power, Inc. (NASDAQ:PLUG) Stock Rating Reaffirmed by Rodman & Renshaw

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.

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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.

Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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