ValuEngine cut shares of Plug Power (NASDAQ:PLUG) from a hold rating to a sell rating in a report issued on Monday morning.
Several other brokerages have also recently commented on PLUG. B. Riley reiterated a buy rating on shares of Plug Power in a report on Wednesday, November 1st. Craig Hallum upped their target price on Plug Power from $3.00 to $4.00 and gave the company a buy rating in a report on Friday, October 6th. Zacks Investment Research upgraded Plug Power from a sell rating to a hold rating in a report on Tuesday, October 17th. Cowen reiterated a buy rating and issued a $3.00 target price on shares of Plug Power in a report on Tuesday, October 17th. Finally, FBR & Co reiterated a buy rating on shares of Plug Power in a report on Tuesday, October 31st. Four analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. Plug Power currently has a consensus rating of Hold and an average target price of $3.23.
Plug Power (NASDAQ:PLUG) traded up $0.01 during trading hours on Monday, hitting $2.34. The stock had a trading volume of 2,717,800 shares, compared to its average volume of 7,198,553. The company has a current ratio of 1.29, a quick ratio of 0.86 and a debt-to-equity ratio of 0.62. Plug Power has a 52 week low of $0.83 and a 52 week high of $3.21.
In other Plug Power news, Director George C. Mcnamee purchased 200,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were purchased at an average cost of $2.20 per share, for a total transaction of $440,000.00. Following the acquisition, the director now owns 486,131 shares of the company’s stock, valued at $1,069,488.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.90% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Plug Power by 30.6% during the second quarter. Vanguard Group Inc. now owns 10,432,461 shares of the electronics maker’s stock worth $21,283,000 after purchasing an additional 2,444,005 shares during the period. State Street Corp grew its stake in shares of Plug Power by 14.6% during the 2nd quarter. State Street Corp now owns 3,742,566 shares of the electronics maker’s stock worth $7,635,000 after acquiring an additional 477,438 shares during the period. Northern Trust Corp grew its stake in shares of Plug Power by 39.5% during the 2nd quarter. Northern Trust Corp now owns 2,828,390 shares of the electronics maker’s stock worth $5,770,000 after acquiring an additional 800,320 shares during the period. Geode Capital Management LLC boosted 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 worth $2,415,000 after purchasing an additional 407,653 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted 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 worth $2,484,000 after purchasing an additional 448,639 shares during the period. 24.43% of the stock is currently owned by institutional investors.
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About Plug Power
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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