Oppenheimer Initiates Coverage on Plug Power (PLUG)
Oppenheimer started coverage on shares of Plug Power (NASDAQ:PLUG) in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $2.50 price target on the electronics maker’s stock. Oppenheimer’s price objective suggests a potential upside of 25.00% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on PLUG. ValuEngine cut Plug Power from a “hold” rating to a “sell” rating in a research report on Wednesday, July 4th. HC Wainwright set a $4.00 target price on Plug Power and gave the stock a “buy” rating in a research report on Friday, August 10th. B. Riley set a $4.00 target price on Plug Power and gave the stock a “buy” rating in a research report on Wednesday. BidaskClub cut Plug Power from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Zacks Investment Research cut Plug Power from a “buy” rating to a “hold” rating in a research report on Thursday, May 10th. Two research analysts have rated the stock with a sell rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $3.38.
Shares of Plug Power stock opened at $2.00 on Thursday. The company has a debt-to-equity ratio of 4.16, a current ratio of 1.07 and a quick ratio of 0.69. Plug Power has a 12-month low of $1.53 and a 12-month high of $3.21.
Several institutional investors and hedge funds have recently bought and sold shares of PLUG. Odey Asset Management Group Ltd boosted its position in shares of Plug Power by 90.3% in 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 acquiring an additional 2,330,000 shares during the period. Deutsche Bank AG boosted its position in shares of Plug Power by 134.8% in the fourth quarter. Deutsche Bank AG now owns 593,619 shares of the electronics maker’s stock valued at $1,399,000 after acquiring an additional 340,811 shares during the period. KBC Group NV boosted its position in shares of Plug Power by 119.1% in the first quarter. KBC Group NV now owns 300,116 shares of the electronics maker’s stock valued at $567,000 after acquiring an additional 163,119 shares during the period. Nomura Holdings Inc. boosted its position in shares of Plug Power by 67.2% in the second quarter. Nomura Holdings Inc. now owns 369,608 shares of the electronics maker’s stock valued at $747,000 after acquiring an additional 148,511 shares during the period. Finally, LPL Financial LLC bought a new stake in shares of Plug Power in the first quarter valued at approximately $270,000. 29.46% of the stock is owned by institutional investors.
About Plug Power
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.
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