Plug Power Inc. (NASDAQ:PLUG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Plug Power Inc. is a leading provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used primarily for the material handling and stationary power market. They are focused on proton exchange membrane, or PEM, fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and associated hydrogen storage and dispensing infrastructure from which multiple products are available. They sell and continue to develop fuel cell product solutions to replace lead-acid batteries in material handling vehicles and industrial trucks for some of North America’s largest distribution and manufacturing businesses. Their current product line includes: GenDrive, GenFuel, GenCare, ReliOn, and GenKey. “

Several other research analysts have also commented on PLUG. FBR & Co reissued an “outperform” rating and issued a $2.50 price target on shares of Plug Power in a research report on Sunday. Roth Capital boosted their price target on Plug Power from $1.75 to $2.00 and gave the stock a “neutral” rating in a research report on Monday, August 15th.

Plug Power (NASDAQ:PLUG) opened at 1.40 on Tuesday. The stock’s market capitalization is $252.64 million. The firm has a 50-day moving average price of $1.52 and a 200 day moving average price of $1.66. Plug Power has a 12 month low of $1.18 and a 12 month high of $2.35.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Monday, November 7th. The company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. The company earned $17.60 million during the quarter, compared to the consensus estimate of $34.84 million. Plug Power had a negative return on equity of 36.60% and a negative net margin of 69.28%. The company’s revenue was down 43.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) earnings per share. Equities analysts anticipate that Plug Power will post ($0.26) earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. IFC Holdings Incorporated FL raised its position in shares of Plug Power by 167.1% in the second quarter. IFC Holdings Incorporated FL now owns 101,506 shares of the company’s stock valued at $192,000 after buying an additional 63,506 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Plug Power by 6.9% in the second quarter. Bank of New York Mellon Corp now owns 671,990 shares of the company’s stock valued at $1,250,000 after buying an additional 43,385 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Plug Power by 1.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 540,599 shares of the company’s stock valued at $1,006,000 after buying an additional 9,912 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Plug Power by 3.1% in the second quarter. California State Teachers Retirement System now owns 378,769 shares of the company’s stock valued at $705,000 after buying an additional 11,429 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Plug Power by 4.4% in the second quarter. Swiss National Bank now owns 282,100 shares of the company’s stock valued at $525,000 after buying an additional 12,000 shares in the last quarter. 18.50% of the stock is currently owned by institutional investors.

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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.

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