Plug Power (NASDAQ:PLUG) Trading Up 1.2%

Plug Power Inc (NASDAQ:PLUG) shares traded up 1.2% during mid-day trading on Thursday . The stock traded as high as $3.44 and last traded at $3.42, 636,350 shares changed hands during trading. A decline of 89% from the average session volume of 6,018,105 shares. The stock had previously closed at $3.38.

A number of equities research analysts recently commented on the company. ValuEngine upgraded Plug Power from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Roth Capital upgraded Plug Power from a “neutral” rating to a “buy” rating and upped their target price for the company from $3.00 to $6.00 in a research report on Monday. BidaskClub upgraded Plug Power from a “hold” rating to a “buy” rating in a research report on Thursday. Cowen set a $3.00 target price on Plug Power and gave the company a “buy” rating in a research report on Tuesday, September 17th. Finally, HC Wainwright set a $4.00 target price on Plug Power and gave the company a “buy” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Plug Power presently has an average rating of “Buy” and an average price target of $4.00.

The stock has a 50-day moving average of $2.77 and a 200 day moving average of $2.46. The stock has a market cap of $740.77 million, a PE ratio of -9.50 and a beta of 1.45.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Thursday, November 7th. The electronics maker reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.02). The firm had revenue of $56.38 million during the quarter, compared to analysts’ expectations of $55.58 million. Plug Power had a negative net margin of 47.21% and a negative return on equity of 6,435.09%. Plug Power’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) EPS. On average, equities analysts predict that Plug Power Inc will post -0.35 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC boosted its position in Plug Power by 55.1% in the 2nd quarter. Private Advisor Group LLC now owns 15,850 shares of the electronics maker’s stock worth $36,000 after purchasing an additional 5,633 shares in the last quarter. SG Americas Securities LLC boosted its position in Plug Power by 35.6% in the 3rd quarter. SG Americas Securities LLC now owns 17,101 shares of the electronics maker’s stock worth $45,000 after purchasing an additional 4,494 shares in the last quarter. Fosun International Ltd purchased a new stake in Plug Power in the 2nd quarter worth approximately $53,000. Alpine Woods Capital Investors LLC boosted its position in Plug Power by 100.0% in the 3rd quarter. Alpine Woods Capital Investors LLC now owns 40,000 shares of the electronics maker’s stock worth $105,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Advisor Group Inc. boosted its position in Plug Power by 26.7% in the 2nd quarter. Advisor Group Inc. now owns 97,340 shares of the electronics maker’s stock worth $219,000 after purchasing an additional 20,500 shares in the last quarter. Hedge funds and other institutional investors own 31.01% of the company’s stock.

About Plug Power (NASDAQ:PLUG)

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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