Plug Power (NASDAQ:PLUG) Trading 2.3% Higher

Plug Power Inc (NASDAQ:PLUG)’s stock price traded up 2.3% during trading on Friday . The stock traded as high as $3.00 and last traded at $3.00, 5,611,899 shares changed hands during mid-day trading. An increase of 31% from the average session volume of 4,292,574 shares. The stock had previously closed at $2.93.

Several equities research analysts recently commented on the stock. BidaskClub upgraded shares of Plug Power from a “hold” rating to a “buy” rating in a research report on Friday. B. Riley set a $3.50 price target on shares of Plug Power and gave the company a “buy” rating in a research report on Thursday, September 26th. HC Wainwright set a $4.00 price target on shares of Plug Power and gave the company a “buy” rating in a research report on Wednesday, September 18th. Cowen set a $3.00 price target on shares of Plug Power and gave the company a “buy” rating in a research report on Tuesday, September 17th. Finally, Zacks Investment Research downgraded shares of Plug Power from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $2.96.

The firm has a market cap of $740.77 million, a PE ratio of -8.44 and a beta of 1.45. The company’s 50-day moving average is $2.55 and its 200 day moving average is $2.42.

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

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Plug Power by 8.1% in the 2nd quarter. Vanguard Group Inc. now owns 12,247,704 shares of the electronics maker’s stock valued at $27,557,000 after buying an additional 922,937 shares during the period. KAMES CAPITAL plc acquired a new position in Plug Power in the 2nd quarter valued at approximately $10,731,000. Northern Trust Corp increased its stake in Plug Power by 1.2% in the 2nd quarter. Northern Trust Corp now owns 2,630,832 shares of the electronics maker’s stock valued at $5,919,000 after buying an additional 31,685 shares during the period. Invesco Ltd. increased its stake in Plug Power by 56.6% in the 2nd quarter. Invesco Ltd. now owns 2,316,548 shares of the electronics maker’s stock valued at $5,212,000 after buying an additional 836,970 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Plug Power by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,358,611 shares of the electronics maker’s stock valued at $3,057,000 after buying an additional 24,099 shares during the period. Hedge funds and other institutional investors own 32.15% 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.

Recommended Story: How to build a Fibonacci channel

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.