Plug Power, Inc. (NASDAQ:PLUG) received a $4.00 price target from research analysts at HC Wainwright in a report issued on Wednesday. The firm presently has a “buy” rating on the electronics maker’s stock. HC Wainwright’s price objective would indicate a potential upside of 84.33% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. BidaskClub cut shares of Plug Power from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded shares of Plug Power from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a research note on Friday, July 28th. FBR & Co restated an “outperform” rating and set a $3.50 price target (up previously from $3.00) on shares of Plug Power in a research note on Tuesday, July 25th. Rodman & Renshaw restated a “buy” rating and set a $4.00 price target on shares of Plug Power in a research note on Monday, July 24th. Finally, Roth Capital restated a “sell” rating and set a $1.30 price target on shares of Plug Power in a research note on Sunday, July 23rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $2.83.

Plug Power (NASDAQ:PLUG) opened at 2.17 on Wednesday. Plug Power has a 12-month low of $0.83 and a 12-month high of $2.70. The company’s market capitalization is $484.89 million. The stock’s 50 day moving average price is $2.17 and its 200 day moving average price is $1.74.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Tuesday, August 8th. The electronics maker reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.03. The business had revenue of $22.60 million for the quarter, compared to the consensus estimate of $28.58 million. Plug Power had a negative return on equity of 68.47% and a negative net margin of 81.41%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.04) EPS. On average, equities research analysts anticipate that Plug Power will post ($0.24) earnings per share for the current fiscal year.

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Several hedge funds have recently bought and sold shares of PLUG. Brighton Jones LLC purchased a new stake in Plug Power during the second quarter valued at $102,000. Bank of New York Mellon Corp raised its stake in Plug Power by 20.4% in the second quarter. Bank of New York Mellon Corp now owns 942,878 shares of the electronics maker’s stock valued at $1,923,000 after buying an additional 159,843 shares during the last quarter. Rhumbline Advisers raised its stake in Plug Power by 13.3% in the second quarter. Rhumbline Advisers now owns 241,748 shares of the electronics maker’s stock valued at $493,000 after buying an additional 28,442 shares during the last quarter. First Trust Advisors LP raised its stake in Plug Power by 44.2% in the second quarter. First Trust Advisors LP now owns 232,094 shares of the electronics maker’s stock valued at $473,000 after buying an additional 71,126 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Plug Power by 58.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,217,301 shares of the electronics maker’s stock valued at $2,484,000 after buying an additional 448,639 shares during the last quarter. 17.54% of the stock is owned by 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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