Plug Power (NASDAQ:PLUG) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Plug Power (NASDAQ:PLUG) from a hold rating to a buy rating in a research report released on Friday, BidAskClub reports.

Several other equities analysts have also issued reports on PLUG. ValuEngine lowered Plug Power from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Zacks Investment Research lowered Plug Power from a buy rating to a hold rating in a research note on Wednesday, October 9th. B. Riley set a $3.50 target price on Plug Power and gave the company a buy rating in a research note on Thursday, September 26th. HC Wainwright set a $4.00 target price on Plug Power and gave the company a buy rating in a research note on Wednesday, September 18th. Finally, Cowen set a $3.00 target price on Plug Power and gave the company a buy rating in a research note on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $2.96.

PLUG opened at $2.91 on Friday. The business’s 50-day moving average is $2.60 and its two-hundred day moving average is $2.43. Plug Power has a 1 year low of $0.99 and a 1 year high of $3.14. The firm has a market capitalization of $765.97 million, a PE ratio of -8.08 and a beta of 1.45.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Tuesday, August 6th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.02. Plug Power had a negative return on equity of 6,435.09% and a negative net margin of 44.51%. The company had revenue of $57.07 million for the quarter, compared to analyst estimates of $52.47 million. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. The firm’s quarterly revenue was up 62.0% compared to the same quarter last year. As a group, research analysts predict that Plug Power will post -0.35 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Private Advisor Group LLC grew its stake in Plug Power by 55.1% in the second quarter. Private Advisor Group LLC now owns 15,850 shares of the electronics maker’s stock valued at $36,000 after purchasing an additional 5,633 shares during the last quarter. First Trust Advisors LP grew its stake in Plug Power by 3.8% in the first quarter. First Trust Advisors LP now owns 227,250 shares of the electronics maker’s stock valued at $545,000 after purchasing an additional 8,331 shares during the last quarter. Swiss National Bank grew its stake in shares of Plug Power by 2.1% during the second quarter. Swiss National Bank now owns 434,200 shares of the electronics maker’s stock worth $977,000 after acquiring an additional 8,900 shares during the last quarter. Advisor Group Inc. grew its stake in shares of Plug Power by 26.7% during the second quarter. Advisor Group Inc. now owns 97,340 shares of the electronics maker’s stock worth $219,000 after acquiring an additional 20,500 shares during the last quarter. Finally, Fosun International Ltd purchased a new stake in shares of Plug Power during the second quarter worth about $53,000. Institutional investors own 32.15% of the company’s stock.

About Plug Power

Plug Power Inc, an alternative energy technology provider, engages in the design, development, manufacture, and commercialization 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.

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