Cowen and Company Reiterates $3.00 Price Target for Plug Power, Inc. (NASDAQ:PLUG)
PLUG has been the subject of a number of other research reports. FBR & Co set a $3.00 target price on shares of Plug Power and gave the stock an outperform rating in a research report on Wednesday, May 10th. ValuEngine upgraded shares of Plug Power from a sell rating to a hold rating in a research report on Friday, July 7th. HC Wainwright set a $4.00 price objective on shares of Plug Power and gave the company a buy rating in a research report on Thursday, April 6th. Roth Capital lowered shares of Plug Power from a neutral rating to a sell rating and lowered their price objective for the company from $2.25 to $1.30 in a research report on Wednesday, May 17th. Finally, Rodman & Renshaw increased their price objective on shares of Plug Power from $3.00 to $4.00 and gave the company a buy rating in a research report on Thursday, April 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $2.83.
Shares of Plug Power (NASDAQ:PLUG) traded up 5.78% on Monday, hitting $2.38. 7,064,691 shares of the stock traded hands. The firm’s market cap is $531.82 million. Plug Power has a 52 week low of $0.83 and a 52 week high of $2.70. The stock has a 50-day moving average price of $2.16 and a 200 day moving average price of $1.73.
Plug Power (NASDAQ:PLUG) last issued its earnings results on Tuesday, May 9th. The electronics maker reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.06. Plug Power had a negative return on equity of 68.47% and a negative net margin of 81.41%. The company had revenue of $15.20 million for the quarter, compared to the consensus estimate of $24.90 million. During the same quarter in the prior year, the company posted ($0.05) EPS. Plug Power’s revenue was down .7% compared to the same quarter last year. Equities research analysts predict that Plug Power will post ($0.24) EPS for the current fiscal year.
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Several large investors have recently made changes to their positions in the stock. Private Advisor Group LLC increased its stake in shares of Plug Power by 160.9% in the first quarter. Private Advisor Group LLC now owns 51,318 shares of the electronics maker’s stock valued at $115,000 after buying an additional 31,646 shares in the last quarter. Creative Planning increased its position in Plug Power by 41.5% in the second quarter. Creative Planning now owns 70,472 shares of the electronics maker’s stock valued at $144,000 after buying an additional 20,673 shares in the last quarter. American International Group Inc. increased its position in Plug Power by 7.5% in the first quarter. American International Group Inc. now owns 111,649 shares of the electronics maker’s stock valued at $154,000 after buying an additional 7,773 shares in the last quarter. Karp Capital Management Corp bought a new position in Plug Power during the first quarter valued at approximately $154,000. Finally, Nationwide Fund Advisors increased its position in Plug Power by 4.6% in the first quarter. Nationwide Fund Advisors now owns 117,225 shares of the electronics maker’s stock valued at $162,000 after buying an additional 5,127 shares in the last quarter. 17.54% of the stock is currently owned by institutional investors and hedge funds.
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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