Cowen set a $3.00 target price on Plug Power (NASDAQ:PLUG) in a research note published on Tuesday. The firm currently has a buy rating on the electronics maker’s stock.

A number of other research firms have also recently issued reports on PLUG. ValuEngine cut Plug Power from a hold rating to a sell rating in a research note on Wednesday, July 4th. BidaskClub upgraded Plug Power from a hold rating to a buy rating in a research note on Saturday, July 14th. Zacks Investment Research cut Plug Power from a hold rating to a sell rating in a research note on Wednesday, July 18th. HC Wainwright set a $4.00 target price on Plug Power and gave the company a buy rating in a research note on Friday, August 10th. Finally, B. Riley set a $4.00 target price on Plug Power and gave the company a buy rating in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $3.29.

Shares of PLUG opened at $1.94 on Tuesday. Plug Power has a 12-month low of $1.53 and a 12-month high of $3.21. The firm has a market cap of $410.26 million, a P/E ratio of -3.23 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.69 and a debt-to-equity ratio of 4.16.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Thursday, August 9th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $39.93 million for the quarter, compared to the consensus estimate of $40.52 million. During the same quarter last year, the business earned ($0.10) earnings per share. The business’s revenue for the quarter was up 76.7% compared to the same quarter last year. As a group, analysts predict that Plug Power will post -0.35 EPS for the current fiscal year.

In other news, Director Gregory B. Graves sold 31,343 shares of the firm’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $1.73, for a total transaction of $54,223.39. Following the transaction, the director now directly owns 43,296 shares of the company’s stock, valued at $74,902.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gerard L. Conway, Jr. sold 100,000 shares of the firm’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $1.86, for a total value of $186,000.00. Following the transaction, the insider now directly owns 110,519 shares in the company, valued at $205,565.34. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. State of New Jersey Common Pension Fund D increased its holdings in shares of Plug Power by 2.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 4,600,000 shares of the electronics maker’s stock valued at $8,832,000 after purchasing an additional 100,000 shares during the period. Odey Asset Management Group Ltd increased its holdings in shares of Plug Power by 90.3% during the second quarter. Odey Asset Management Group Ltd now owns 4,910,000 shares of the electronics maker’s stock valued at $9,918,000 after purchasing an additional 2,330,000 shares during the period. Nomura Holdings Inc. increased its holdings in shares of Plug Power by 67.2% during the second quarter. Nomura Holdings Inc. now owns 369,608 shares of the electronics maker’s stock valued at $747,000 after purchasing an additional 148,511 shares during the period. Global X Management Co LLC acquired a new position in shares of Plug Power during the second quarter valued at $266,000. Finally, Metropolitan Life Insurance Co. NY increased its holdings in shares of Plug Power by 183.4% during the second 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 period. 30.40% 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.

Featured Article: How can you know how many shares are floating?

Analyst Recommendations for Plug Power (NASDAQ:PLUG)

Receive News & Ratings for Plug Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plug Power and related companies with MarketBeat.com's FREE daily email newsletter.