Cowen and Company reissued their buy rating on shares of Plug Power, Inc. (NASDAQ:PLUG) in a report published on Sunday. They currently have a $3.00 price objective on the electronics maker’s stock.

A number of other research firms have also weighed in on PLUG. BidaskClub lowered Plug Power from a hold rating to a sell rating in a research note on Monday, July 31st. Zacks Investment Research upgraded Plug Power from a strong sell rating to a hold rating in a research note on Wednesday, July 19th. Rodman & Renshaw reiterated a buy rating and set a $4.00 price objective on shares of Plug Power in a research note on Monday, July 24th. ValuEngine upgraded Plug Power from a sell rating to a hold rating in a research note on Friday, July 7th. Finally, HC Wainwright reiterated a buy rating and set a $4.00 price objective on shares of Plug Power in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $2.83.

Shares of Plug Power (PLUG) opened at 2.41 on Friday. The firm’s 50-day moving average price is $2.18 and its 200 day moving average price is $2.00. Plug Power has a 12-month low of $0.83 and a 12-month high of $2.70. The company’s market cap is $541.60 million.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Tuesday, August 8th. The electronics maker reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.03). The company had revenue of $22.60 million for the quarter, compared to analysts’ expectations of $28.58 million. Plug Power had a negative net margin of 112.95% and a negative return on equity of 86.35%. The business’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.04) EPS. On average, analysts predict that Plug Power will post ($0.32) earnings per share for the current year.

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In other Plug Power news, Director George C. Mcnamee bought 200,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were purchased at an average cost of $2.20 per share, for a total transaction of $440,000.00. Following the transaction, the director now directly owns 486,131 shares of the company’s stock, valued at $1,069,488.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 4.30% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the company. Archford Capital Strategies LLC grew its position in shares of 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 acquiring an additional 1,838 shares during the period. Brighton Jones LLC acquired a new stake in shares of Plug Power during the 2nd quarter valued at about $102,000. Private Advisor Group LLC grew its position in shares of 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 acquiring an additional 31,646 shares during the period. Adalta Capital Management LLC acquired a new stake in Plug Power in the 2nd quarter worth about $106,000. Finally, Creative Planning boosted its holdings in Plug Power by 41.5% in the 2nd quarter. Creative Planning now owns 70,472 shares of the electronics maker’s stock worth $144,000 after buying an additional 20,673 shares during the last quarter. Hedge funds and other institutional investors own 23.49% of the company’s stock.

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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