Shares of Plug Power Inc (NASDAQ:PLUG) have been given a consensus recommendation of “Buy” by the nine research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $5.67.
Several equities analysts recently commented on the stock. Oppenheimer upped their target price on shares of Plug Power from $3.00 to $6.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Zacks Investment Research downgraded Plug Power from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. ValuEngine upgraded Plug Power from a “hold” rating to a “buy” rating in a research note on Wednesday, March 18th. Canaccord Genuity upped their price objective on Plug Power from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Finally, HC Wainwright restated a “buy” rating and issued a $6.00 price objective (up previously from $4.00) on shares of Plug Power in a research note on Tuesday, March 10th.
Shares of PLUG traded up $0.11 during midday trading on Friday, hitting $3.84. 17,441,716 shares of the company’s stock traded hands, compared to its average volume of 18,565,789. Plug Power has a 1 year low of $1.86 and a 1 year high of $6.05. The firm’s fifty day moving average is $4.21 and its 200-day moving average is $3.44. The company has a current ratio of 2.08, a quick ratio of 1.60 and a debt-to-equity ratio of 3.42. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -9.85 and a beta of 1.16.
In related news, CAO Martin Daniel Hull sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $4.00, for a total transaction of $140,000.00. Following the transaction, the chief accounting officer now directly owns 33,836 shares in the company, valued at approximately $135,344. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Keith Schmid sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $6.00, for a total value of $300,000.00. Following the transaction, the chief operating officer now owns 119,020 shares in the company, valued at $714,120. The disclosure for this sale can be found here. Insiders have sold a total of 1,606,569 shares of company stock valued at $7,979,003 in the last quarter. 6.00% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Circle Wealth Management LLC bought a new stake in shares of Plug Power in the 4th quarter worth approximately $62,000. Fosun International Ltd raised its position in shares of Plug Power by 108.3% during the 4th quarter. Fosun International Ltd now owns 50,000 shares of the electronics maker’s stock valued at $154,000 after buying an additional 26,000 shares during the period. Alliancebernstein L.P. raised its position in shares of Plug Power by 270.0% during the 4th quarter. Alliancebernstein L.P. now owns 652,228 shares of the electronics maker’s stock valued at $2,061,000 after buying an additional 475,938 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Plug Power by 56.8% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 44,271 shares of the electronics maker’s stock valued at $148,000 after buying an additional 16,045 shares during the period. Finally, Advisors Asset Management Inc. raised its position in shares of Plug Power by 443.5% during the 4th quarter. Advisors Asset Management Inc. now owns 9,755 shares of the electronics maker’s stock valued at $31,000 after buying an additional 7,960 shares during the period. Institutional investors and hedge funds own 35.58% of the company’s stock.
About Plug Power
Plug Power Inc, an alternative energy technology provider, engages in the design, development, manufacture, and commercialization 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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