Plug Power Inc (NASDAQ:PLUG) gapped up prior to trading on Monday . The stock had previously closed at $2.32, but opened at $2.37. Plug Power shares last traded at $2.51, with a volume of 8569000 shares trading hands.
PLUG has been the subject of several analyst reports. Cowen reiterated a “buy” rating and issued a $3.00 price objective on shares of Plug Power in a research note on Tuesday, October 17th. Craig Hallum raised their price target on shares of Plug Power from $3.00 to $4.00 and gave the stock a “buy” rating in a research note on Friday, October 6th. HC Wainwright set a $4.00 price target on shares of Plug Power and gave the stock a “buy” rating in a research note on Wednesday, August 9th. B. Riley restated a “buy” rating and set a $3.50 price target on shares of Plug Power in a research note on Thursday, November 9th. Finally, FBR & Co restated a “buy” rating on shares of Plug Power in a research note on Tuesday, October 31st. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. Plug Power has an average rating of “Hold” and a consensus price target of $3.23.
The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.86 and a current ratio of 1.29.
In other Plug Power news, Director George C. Mcnamee acquired 200,000 shares of Plug Power stock in a transaction that occurred on Friday, September 15th. The stock was acquired at an average cost of $2.20 per share, for a total transaction of $440,000.00. Following the purchase, the director now owns 486,131 shares of the company’s stock, valued at $1,069,488.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.90% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank grew its stake in Plug Power by 15.3% in the 2nd quarter. Swiss National Bank now owns 325,200 shares of the electronics maker’s stock valued at $663,000 after buying an additional 43,100 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Plug Power by 58.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,217,301 shares of the electronics maker’s stock valued at $2,484,000 after buying an additional 448,639 shares in the last quarter. Brighton Jones LLC purchased a new position in Plug Power in the 2nd quarter valued at approximately $102,000. Geode Capital Management LLC grew its stake in Plug Power by 30.4% in the 1st quarter. Geode Capital Management LLC now owns 1,750,660 shares of the electronics maker’s stock valued at $2,415,000 after buying an additional 407,653 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in Plug Power by 14.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 851,166 shares of the electronics maker’s stock valued at $1,736,000 after buying an additional 104,319 shares in the last quarter. Institutional investors and hedge funds own 24.43% of the company’s stock.
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Plug Power Company Profile
Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.
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