Plug Power (NASDAQ:PLUG) Sets New 12-Month High at $3.69

Shares of Plug Power Inc (NASDAQ:PLUG) hit a new 52-week high during trading on Monday . The stock traded as high as $3.69 and last traded at $3.64, with a volume of 174927 shares trading hands. The stock had previously closed at $3.49.

Several analysts have recently commented on PLUG shares. ValuEngine upgraded shares of Plug Power from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. BidaskClub upgraded shares of Plug Power from a “hold” rating to a “buy” rating in a research report on Thursday. B. Riley set a $3.50 price target on shares of Plug Power and gave the company a “buy” rating in a report on Thursday, September 26th. Zacks Investment Research downgraded shares of Plug Power from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Cowen set a $3.00 price target on shares of Plug Power and gave the company a “buy” rating in a report on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $4.00.

The company has a market capitalization of $892.86 million, a P/E ratio of -10.28 and a beta of 1.45. The business’s fifty day simple moving average is $2.78 and its 200-day simple moving average is $2.46.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Alps Advisors Inc. increased its holdings in Plug Power by 110.3% in the 2nd quarter. Alps Advisors Inc. now owns 396,087 shares of the electronics maker’s stock valued at $891,000 after acquiring an additional 207,701 shares during the last quarter. Aperio Group LLC grew its stake in shares of Plug Power by 22.9% in the 2nd quarter. Aperio Group LLC now owns 277,537 shares of the electronics maker’s stock worth $624,000 after buying an additional 51,784 shares in the last quarter. Advisor Group Inc. grew its stake in shares of 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 buying an additional 20,500 shares in the last quarter. Fosun International Ltd purchased a new position in shares of Plug Power in the 2nd quarter worth $53,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Plug Power in the 2nd quarter worth $666,000. Institutional investors own 30.59% 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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