Plug Power Inc (PLUG) Receives Consensus Rating of “Buy” from Analysts
Plug Power Inc (NASDAQ:PLUG) has earned an average rating of “Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $3.57.
Several analysts have recently issued reports on PLUG shares. CIBC started coverage on shares of Plug Power in a research report on Thursday, August 23rd. They set an “outperform” rating and a $2.50 price target on the stock. ValuEngine cut shares of Plug Power from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. BidaskClub cut shares of Plug Power from a “buy” rating to a “hold” rating in a research report on Saturday, July 28th. B. Riley set a $4.00 target price on shares of Plug Power and gave the company a “buy” rating in a report on Wednesday, August 22nd. Finally, Zacks Investment Research cut shares of Plug Power from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th.
Shares of PLUG traded down $0.05 during mid-day trading on Wednesday, hitting $1.92. 2,179,000 shares of the company’s stock were exchanged, compared to its average volume of 3,348,650. The stock has a market capitalization of $403.82 million, a PE ratio of -3.18 and a beta of 1.22. Plug Power has a fifty-two week low of $1.53 and a fifty-two week high of $3.21. The company has a debt-to-equity ratio of 4.16, a quick ratio of 0.69 and a current ratio of 1.07.
In related news, Director Gregory B. Graves sold 31,343 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $1.73, for a total value of $54,223.39. Following the sale, the director now owns 43,296 shares of the company’s stock, valued at $74,902.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.10% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Metropolitan Life Insurance Co. NY raised its holdings in Plug Power by 183.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 73,495 shares of the electronics maker’s stock valued at $148,000 after acquiring an additional 47,559 shares in the last quarter. MetLife Investment Advisors LLC raised its holdings in Plug Power by 100.0% in the first quarter. MetLife Investment Advisors LLC now owns 107,957 shares of the electronics maker’s stock valued at $204,000 after acquiring an additional 53,968 shares in the last quarter. Global X Management Co LLC acquired a new stake in Plug Power in the second quarter valued at approximately $266,000. LPL Financial LLC purchased a new position in Plug Power in the first quarter valued at approximately $270,000. Finally, UBS Group AG increased its stake in Plug Power by 122.6% in the first quarter. UBS Group AG now owns 150,221 shares of the electronics maker’s stock valued at $284,000 after purchasing an additional 82,741 shares during the last quarter. 30.46% of the stock is currently owned by hedge funds and other 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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