Plug Power (NASDAQ:PLUG) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Plug Power from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. BidaskClub cut shares of Plug Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 6th. HC Wainwright set a $4.00 target price on shares of Plug Power and gave the company a “buy” rating in a research report on Friday, August 10th. B. Riley set a $4.00 target price on shares of Plug Power and gave the company a “buy” rating in a research report on Wednesday, August 22nd. Finally, CIBC assumed coverage on shares of Plug Power in a research report on Thursday, August 23rd. They issued an “outperform” rating and a $2.50 target price for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. Plug Power has an average rating of “Buy” and an average price target of $3.29.

Shares of Plug Power stock opened at $1.88 on Tuesday. Plug Power has a twelve month low of $1.53 and a twelve month high of $3.21. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 4.16. The stock has a market capitalization of $412.41 million, a price-to-earnings ratio of -3.13 and a beta of 1.08.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Thursday, August 9th. The electronics maker reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). Plug Power had a negative return on equity of 108.78% and a negative net margin of 66.16%. The business had revenue of $39.93 million during the quarter, compared to analyst estimates of $40.52 million. During the same quarter last year, the firm earned ($0.10) EPS. Plug Power’s revenue for the quarter was up 76.7% compared to the same quarter last year. As a group, equities research analysts expect that Plug Power will post -0.19 EPS for the current fiscal year.

In other news, Director Gregory B. Graves sold 31,343 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $1.73, for a total value of $54,223.39. Following the completion of the transaction, the director now directly owns 43,296 shares in the company, valued at approximately $74,902.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.10% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in PLUG. Metropolitan Life Insurance Co. NY grew its holdings in shares of Plug Power by 183.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 73,495 shares of the electronics maker’s stock valued at $148,000 after purchasing an additional 47,559 shares during the last quarter. MetLife Investment Advisors LLC grew its holdings in shares of Plug Power by 100.0% during the 1st quarter. MetLife Investment Advisors LLC now owns 107,957 shares of the electronics maker’s stock valued at $204,000 after purchasing an additional 53,968 shares during the last quarter. Global X Management Co LLC bought a new stake in shares of Plug Power during the 2nd quarter valued at approximately $266,000. LPL Financial LLC bought a new stake in shares of Plug Power during the 1st quarter valued at approximately $270,000. Finally, UBS Group AG grew its holdings in shares of Plug Power by 122.6% during the 1st quarter. UBS Group AG now owns 150,221 shares of the electronics maker’s stock valued at $284,000 after purchasing an additional 82,741 shares during the last quarter. 30.46% of the stock is currently owned by institutional investors.

Plug Power Company Profile

Plug Power Inc, an alternative energy technology provider, engages in the design, development, commercialization, and manufacture of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

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Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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