Shares of Plug Power Inc (NASDAQ:PLUG) shot up 7.6% on Thursday . The company traded as high as $2.05 and last traded at $1.83. 3,662,523 shares traded hands during mid-day trading, an increase of 10% from the average session volume of 3,314,501 shares. The stock had previously closed at $1.98.

A number of research firms have weighed in on PLUG. B. Riley reiterated a “buy” rating on shares of Plug Power in a research note on Wednesday, November 1st. BidaskClub lowered Plug Power from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 10th. Zacks Investment Research upgraded Plug Power from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a research note on Wednesday, January 10th. HC Wainwright reiterated a “buy” rating and issued a $4.00 target price on shares of Plug Power in a research note on Thursday, December 7th. Finally, Canaccord Genuity initiated coverage on Plug Power in a research report on Friday, December 1st. They set a “buy” rating and a $5.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $3.23.

The company has a quick ratio of 0.86, a current ratio of 1.29 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $396.40, a PE ratio of -2.85 and a beta of 1.52.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Wednesday, November 8th. The electronics maker reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). Plug Power had a negative return on equity of 83.93% and a negative net margin of 96.27%. The business had revenue of $61.43 million for the quarter, compared to the consensus estimate of $54.57 million. During the same quarter in the prior year, the company earned $0.07 EPS. The business’s revenue was up 249.0% compared to the same quarter last year. equities analysts forecast that Plug Power Inc will post -0.51 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Plug Power by 30.6% during the second quarter. Vanguard Group Inc. now owns 10,432,461 shares of the electronics maker’s stock valued at $21,283,000 after purchasing an additional 2,444,005 shares in the last quarter. Northern Trust Corp boosted its position in Plug Power by 39.5% during the second 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. State Street Corp boosted its position in Plug Power by 14.6% during the second 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. Schwab Charles Investment Management Inc. boosted its position in Plug Power by 58.4% during 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 purchasing an additional 448,639 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in Plug Power during the third quarter valued at about $783,000. 24.44% of the stock is currently owned by institutional investors and hedge funds.

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About Plug Power

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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