Plug Power (PLUG) Raised to Buy at BidaskClub
BidaskClub upgraded shares of Plug Power (NASDAQ:PLUG) from a hold rating to a buy rating in a report issued on Friday.
A number of other research analysts also recently issued reports on PLUG. Zacks Investment Research raised Plug Power from a hold rating to a buy rating and set a $2.00 price target for the company in a report on Wednesday, November 28th. B. Riley set a $4.00 price target on Plug Power and gave the company a buy rating in a report on Friday, March 8th. Finally, ValuEngine raised Plug Power from a hold rating to a buy rating in a report on Monday, March 11th. One 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 a consensus rating of Buy and an average price target of $2.58.
Shares of NASDAQ:PLUG opened at $2.20 on Friday. Plug Power has a 12-month low of $0.99 and a 12-month high of $2.65. 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.
In other Plug Power news, CEO Andrew Marsh bought 12,286 shares of Plug Power stock in a transaction dated Thursday, March 14th. The stock was acquired 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 in the company, valued at approximately $1,134,953.80. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 5.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in PLUG. Amalgamated Bank raised 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 worth $41,000 after buying an additional 19,851 shares during the period. Legal & General Group Plc raised 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 worth $50,000 after buying an additional 8,556 shares during the period. Advisor Group Inc. raised 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 worth $66,000 after buying an additional 14,590 shares during the period. Metropolitan Life Insurance Co. NY raised 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 worth $91,000 after buying an additional 56,912 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Plug Power during the 3rd quarter worth approximately $121,000. 26.86% of the stock is owned by institutional investors and hedge funds.
Plug Power Company Profile
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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