Plug Power Inc (NASDAQ:PLUG) Receives $2.80 Average Price Target from Brokerages
Plug Power Inc (NASDAQ:PLUG) has earned a consensus recommendation of “Buy” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $2.80.
A number of brokerages recently commented on PLUG. Zacks Investment Research raised Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Friday. BidaskClub cut Xperi from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 19th. Finally, ValuEngine raised Zumiez from a “sell” rating to a “hold” rating in a report on Saturday, March 30th.
Shares of NASDAQ PLUG remained flat at $$2.31 during midday trading on Tuesday. The stock had a trading volume of 2,037,567 shares, compared to its average volume of 3,209,283. The business’s 50 day simple moving average is $2.38. The company has a debt-to-equity ratio of 66.88, a current ratio of 1.88 and a quick ratio of 1.14. Plug Power has a 12-month low of $0.99 and a 12-month high of $2.87.
A number of institutional investors have recently made changes to their positions in PLUG. KAMES CAPITAL plc bought a new position in Plug Power in the 2nd quarter worth $10,731,000. BlackRock Inc. raised its holdings in Plug Power by 12.1% during the fourth quarter. BlackRock Inc. now owns 16,527,822 shares of the electronics maker’s stock valued at $20,494,000 after acquiring an additional 1,786,566 shares during the period. Odey Asset Management Group Ltd raised its holdings in Plug Power by 11.7% during the fourth quarter. Odey Asset Management Group Ltd now owns 5,486,413 shares of the electronics maker’s stock valued at $6,803,000 after acquiring an additional 576,413 shares during the period. Geode Capital Management LLC raised its holdings in Plug Power by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 2,481,356 shares of the electronics maker’s stock valued at $3,076,000 after acquiring an additional 152,681 shares during the period. Finally, Rhumbline Advisers raised its holdings in Plug Power by 46.1% during the fourth quarter. Rhumbline Advisers now owns 284,208 shares of the electronics maker’s stock valued at $352,000 after acquiring an additional 89,744 shares during the period. 33.28% of the stock is currently owned by institutional investors.
Plug Power Company Profile
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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