Brokerages Set Plug Power, Inc. (PLUG) Price Target at $2.88
Shares of Plug Power, Inc. (NASDAQ:PLUG) have been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $2.88.
Several research firms have recently issued reports on PLUG. Cowen and Company set a $3.00 price objective on Plug Power and gave the company a “buy” rating in a research note on Thursday, August 10th. HC Wainwright set a $4.00 price objective on Plug Power and gave the company a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research downgraded Plug Power from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. BidaskClub raised Plug Power from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Rodman & Renshaw reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Plug Power in a research note on Monday, July 24th.
A number of large investors have recently added to or reduced their stakes in PLUG. Brighton Jones LLC acquired a new stake in Plug Power during the 2nd quarter valued at approximately $102,000. Adalta Capital Management LLC acquired a new stake in Plug Power during the 2nd quarter valued at approximately $106,000. Private Advisor Group LLC increased its position in Plug Power by 160.9% during the 1st quarter. Private Advisor Group LLC now owns 51,318 shares of the electronics maker’s stock valued at $115,000 after purchasing an additional 31,646 shares during the period. Archford Capital Strategies LLC increased its position in Plug Power by 20,422.2% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,847 shares of the electronics maker’s stock valued at $115,000 after purchasing an additional 1,838 shares during the period. Finally, Creative Planning increased its position in Plug Power by 41.5% during the 2nd quarter. Creative Planning now owns 70,472 shares of the electronics maker’s stock valued at $144,000 after purchasing an additional 20,673 shares during the period. 23.79% of the stock is owned by institutional investors and hedge funds.
Shares of Plug Power (NASDAQ PLUG) remained flat at $2.17 during midday trading on Friday. The company had a trading volume of 2,020,018 shares. The stock’s market capitalization is $487.66 million. The stock’s 50 day moving average is $2.18 and its 200-day moving average is $1.94. Plug Power has a one year low of $0.83 and a one year high of $2.70.
Plug Power (NASDAQ:PLUG) last released its quarterly earnings data 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 net margin of 112.95% and a negative return on equity of 86.35%. The firm had revenue of $22.60 million during the quarter, compared to analyst estimates of $28.58 million. During the same period in the prior year, the company earned ($0.04) EPS. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, analysts anticipate that Plug Power will post ($0.32) earnings per share for the current year.
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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