Plug Power, Inc. (NASDAQ:PLUG)’s share price rose 3.6% during mid-day trading on Thursday . The stock traded as high as $2.38 and last traded at $2.27. Approximately 3,462,604 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 4,160,290 shares. The stock had previously closed at $2.35.

PLUG has been the topic of several research reports. Roth Capital downgraded Plug Power from a “neutral” rating to a “sell” rating and cut their target price for the company from $2.25 to $1.30 in a research report on Wednesday, May 17th. ValuEngine downgraded Plug Power from a “hold” rating to a “sell” rating in a research report on Thursday, May 18th. Zacks Investment Research raised Plug Power from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 19th. FBR & Co reaffirmed an “outperform” rating and set a $3.50 price target (up from $3.00) on shares of Plug Power in a research report on Tuesday, July 25th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Plug Power in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Plug Power presently has a consensus rating of “Hold” and an average target price of $2.83.

The firm has a 50 day moving average of $2.18 and a 200 day moving average of $1.95. The company’s market cap is $497.78 million.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Tuesday, August 8th. The electronics maker reported ($0.10) earnings per share 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 company had revenue of $22.60 million during the quarter, compared to analysts’ expectations of $28.58 million. During the same period last year, the firm earned ($0.04) earnings per share. Plug Power’s revenue was up 10.5% on a year-over-year basis. On average, analysts anticipate that Plug Power, Inc. will post ($0.32) earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in PLUG. Brighton Jones LLC acquired a new position in Plug Power in the second quarter valued at $102,000. Adalta Capital Management LLC acquired a new position in Plug Power in the second quarter valued at $106,000. Private Advisor Group LLC increased its stake in Plug Power by 160.9% in the first 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 stake in Plug Power by 20,422.2% in the second 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 stake in Plug Power by 41.5% in the second 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 hedge funds and other institutional investors.

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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.

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