Plug Power (PLUG) Lifted to Buy at ValuEngine
ValuEngine upgraded shares of Plug Power (NASDAQ:PLUG) from a hold rating to a buy rating in a research note published on Friday morning.
Several other research analysts have also issued reports on PLUG. Zacks Investment Research raised shares of Plug Power from a sell rating to a hold rating in a research note on Thursday, September 13th. Oppenheimer initiated 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. BidaskClub downgraded shares of Plug Power from a hold rating to a sell rating in a report on Thursday, August 23rd. B. Riley set a $4.00 price objective on shares of Plug Power and gave the stock a buy rating in a report on Friday, August 10th. Finally, HC Wainwright set a $4.00 target price on shares of Plug Power and gave the stock a buy rating in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Plug Power has an average rating of Buy and an average price target of $3.29.
Shares of Plug Power stock opened at $1.78 on Friday. The company has a market cap of $429.40 million, a PE ratio of -2.97 and a beta of 1.29. The company has a quick ratio of 0.60, a current ratio of 1.06 and a debt-to-equity ratio of 10.93. Plug Power has a 1-year low of $1.53 and a 1-year high of $2.59.
In other Plug Power news, Director Gregory B. Graves sold 31,343 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $1.73, for a total transaction of $54,223.39. Following the transaction, the director now owns 43,296 shares in the company, valued at approximately $74,902.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gerard L. Conway, Jr. sold 100,000 shares of the company’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $1.86, for a total transaction of $186,000.00. Following the transaction, the insider now owns 110,519 shares in the company, valued at approximately $205,565.34. The disclosure for this sale can be found here. Insiders own 5.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY grew its holdings in Plug Power by 183.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 73,495 shares of the electronics maker’s stock valued at $148,000 after buying an additional 47,559 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Plug Power in the third quarter worth $121,000. Alps Advisors Inc. lifted its position in shares of Plug Power by 387.8% during the third quarter. Alps Advisors Inc. now owns 90,509 shares of the electronics maker’s stock worth $174,000 after purchasing an additional 71,955 shares during the last quarter. UBS Group AG lifted its position in shares of Plug Power by 122.6% during the first 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 during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of Plug Power by 2.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 4,600,000 shares of the electronics maker’s stock worth $8,832,000 after purchasing an additional 100,000 shares during the last quarter. 27.78% 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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