Plug Power (PLUG) Cut to “Hold” at ValuEngine
ValuEngine downgraded shares of Plug Power (NASDAQ:PLUG) from a buy rating to a hold rating in a report issued on Tuesday morning.
PLUG has been the topic of a number of other reports. BidaskClub upgraded shares of Plug Power from a hold rating to a buy rating in a report on Saturday, July 14th. B. Riley set a $4.00 price target on shares of Plug Power and gave the company a buy rating in a report on Thursday, May 10th. Oppenheimer assumed coverage on shares of Plug Power in a report on Thursday, August 23rd. They issued an outperform rating and a $2.50 price target on the stock. HC Wainwright set a $4.00 price target on shares of Plug Power and gave the company a buy rating in a report on Thursday, May 10th. Finally, Zacks Investment Research cut shares of Plug Power from a buy rating to a hold rating in a report on Thursday, May 10th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $3.38.
NASDAQ:PLUG opened at $1.94 on Tuesday. 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 current ratio of 1.07 and a quick ratio of 0.69.
Hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC acquired a new stake in Plug Power in the 4th quarter worth approximately $127,000. Metropolitan Life Insurance Co. NY boosted its stake in Plug Power by 183.4% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 73,495 shares of the electronics maker’s stock worth $148,000 after purchasing an additional 47,559 shares in the last quarter. Global X Management Co LLC acquired a new stake in Plug Power in the 2nd quarter worth approximately $266,000. LPL Financial LLC acquired a new stake in Plug Power in the 1st quarter worth approximately $270,000. Finally, UBS Group AG boosted its stake in Plug Power by 122.6% in the 1st quarter. UBS Group AG now owns 150,221 shares of the electronics maker’s stock worth $284,000 after purchasing an additional 82,741 shares in the last quarter. Institutional investors own 30.41% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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