Plug Power, Inc. (NASDAQ:PLUG) has been assigned a $3.00 price target by stock analysts at Cowen and Company in a report issued on Thursday. The firm presently has a “buy” rating on the electronics maker’s stock. Cowen and Company’s target price suggests a potential upside of 45.63% from the company’s current price.

A number of other research analysts have also recently commented on PLUG. HC Wainwright set a $4.00 price objective on Plug Power and gave the company a “buy” rating in a report on Wednesday. BidaskClub cut Plug Power from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research cut Plug Power from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 12th. Rodman & Renshaw reiterated a “buy” rating and issued a $4.00 price objective on shares of Plug Power in a report on Monday, July 24th. Finally, FBR & Co reiterated an “outperform” rating and issued a $3.50 price objective (up from $3.00) on shares of Plug Power in a report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Plug Power presently has a consensus rating of “Hold” and a consensus price target of $2.83.

Shares of Plug Power (PLUG) traded up 3.00% during midday trading on Thursday, hitting $2.06. The stock had a trading volume of 4,507,306 shares. Plug Power has a 52-week low of $0.83 and a 52-week high of $2.70. The firm’s market cap is $462.94 million. The firm’s 50 day moving average price is $2.16 and its 200 day moving average price is $1.78.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Tuesday, August 8th. The electronics maker reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $22.60 million during the quarter, compared to analyst estimates of $28.58 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The company’s revenue was up 10.5% on a year-over-year basis. On average, equities research analysts expect that Plug Power will post ($0.24) earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its stake in shares of Plug Power by 51.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 768,662 shares of the electronics maker’s stock worth $1,061,000 after buying an additional 262,147 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Plug Power by 30.4% in the first quarter. Geode Capital Management LLC now owns 1,750,660 shares of the electronics maker’s stock worth $2,415,000 after buying an additional 407,653 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Plug Power by 10.2% in the first quarter. Vanguard Group Inc. now owns 7,988,456 shares of the electronics maker’s stock worth $11,024,000 after buying an additional 738,875 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Plug Power by 34.4% in the first quarter. Asset Management One Co. Ltd. now owns 286,299 shares of the electronics maker’s stock worth $395,000 after buying an additional 73,274 shares during the last quarter. Finally, American International Group Inc. raised its stake in shares of Plug Power by 7.5% in the first quarter. American International Group Inc. now owns 111,649 shares of the electronics maker’s stock worth $154,000 after buying an additional 7,773 shares during the last quarter. 17.54% of the stock is currently 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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