Plug Power’s (PLUG) “Buy” Rating Reiterated at B. Riley
B. Riley reaffirmed their buy rating on shares of Plug Power (NASDAQ:PLUG) in a research report report published on Thursday. They currently have a $3.50 target price on the electronics maker’s stock.
Several other research firms have also recently commented on PLUG. BidaskClub raised shares of Plug Power from a hold rating to a buy rating in a research note on Friday. Zacks Investment Research cut shares of Plug Power from a hold rating to a sell rating in a research note on Thursday. Finally, ValuEngine raised shares of Plug Power from a hold rating to a buy rating in a research note on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Plug Power has an average rating of Buy and a consensus target price of $2.58.
PLUG stock opened at $2.20 on Thursday. The company has a market capitalization of $555.47 million, a price-to-earnings ratio of -6.11 and a beta of 1.72. The company has a debt-to-equity ratio of 10.93, a current ratio of 1.06 and a quick ratio of 0.60. Plug Power has a one year low of $0.99 and a one year high of $2.65.
In related news, CEO Andrew Marsh acquired 12,286 shares of the stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $2.44 per share, with a total value of $29,977.84. Following the purchase, the chief executive officer now directly owns 465,145 shares of the company’s stock, valued at $1,134,953.80. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.10% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank grew its stake in shares of Plug Power by 154.8% during the 4th quarter. Amalgamated Bank now owns 32,671 shares of the electronics maker’s stock valued at $41,000 after buying an additional 19,851 shares during the period. Legal & General Group Plc grew its stake in shares of Plug Power by 27.4% during the 4th quarter. Legal & General Group Plc now owns 39,763 shares of the electronics maker’s stock valued at $50,000 after buying an additional 8,556 shares during the period. Advisor Group Inc. grew its stake in shares of Plug Power by 38.0% during the 4th quarter. Advisor Group Inc. now owns 53,000 shares of the electronics maker’s stock valued at $66,000 after buying an additional 14,590 shares during the period. Metropolitan Life Insurance Co. NY grew its stake in shares of Plug Power by 343.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 73,495 shares of the electronics maker’s stock valued at $91,000 after buying an additional 56,912 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Plug Power during the 3rd quarter worth $121,000. 26.86% 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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