FBR & Co restated their buy rating on shares of Plug Power Inc (NASDAQ:PLUG) in a report issued on Tuesday morning.

Several other brokerages have also issued reports on PLUG. Craig Hallum raised their price objective on Plug Power from $3.00 to $4.00 and gave the stock a buy rating in a report on Friday, October 6th. Zacks Investment Research raised Plug Power from a sell rating to a hold rating in a report on Tuesday, October 17th. Cowen and Company reaffirmed a buy rating and set a $3.00 price objective on shares of Plug Power in a report on Tuesday, October 17th. Roth Capital reissued a sell rating and set a $1.30 price target on shares of Plug Power in a report on Sunday, July 23rd. Finally, BidaskClub raised Plug Power from a sell rating to a hold rating in a report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $2.98.

Plug Power (PLUG) traded up $0.05 during midday trading on Tuesday, hitting $2.87. The company had a trading volume of 4,012,640 shares, compared to its average volume of 5,408,122. The company has a current ratio of 1.31, a quick ratio of 0.68 and a debt-to-equity ratio of 0.41.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Tuesday, August 8th. The electronics maker reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The firm had revenue of $22.60 million for the quarter, compared to analysts’ expectations of $28.58 million. Plug Power had a negative return on equity of 215.19% and a negative net margin of 205.06%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.04) EPS. analysts expect that Plug Power will post -0.36 EPS for the current year.

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In related news, Director George C. Mcnamee purchased 200,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were purchased at an average price of $2.20 per share, with a total value of $440,000.00. Following the completion of the acquisition, the director now directly owns 486,131 shares in the company, valued at approximately $1,069,488.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 4.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Plug Power by 30.6% during 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 last quarter. State Street Corp boosted its holdings in Plug Power by 14.6% in the 2nd quarter. State Street Corp now owns 3,742,566 shares of the electronics maker’s stock valued at $7,635,000 after purchasing an additional 477,438 shares in the last quarter. Northern Trust Corp boosted its holdings in Plug Power by 39.5% in the 2nd quarter. Northern Trust Corp now owns 2,828,390 shares of the electronics maker’s stock valued at $5,770,000 after purchasing an additional 800,320 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Plug Power by 30.4% in the 1st quarter. Geode Capital Management LLC now owns 1,750,660 shares of the electronics maker’s stock valued at $2,415,000 after purchasing an additional 407,653 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Plug Power by 58.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,217,301 shares of the electronics maker’s stock valued at $2,484,000 after purchasing an additional 448,639 shares in the last quarter. 23.48% of the stock is currently 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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