PLUG has been the topic of several other research reports. BidaskClub cut Plug Power from a sell rating to a strong sell rating in a report on Wednesday, January 10th. Zacks Investment Research cut Plug Power from a hold rating to a sell rating in a report on Tuesday, November 14th. B. Riley restated a buy rating and set a $3.50 target price on shares of Plug Power in a report on Thursday, December 7th. Canaccord Genuity set a $5.00 target price on Plug Power and gave the stock a buy rating in a report on Wednesday, March 7th. Finally, ValuEngine cut Plug Power from a hold rating to a sell rating in a report on Monday, December 4th. Four research analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $3.48.
Shares of Plug Power (NASDAQ PLUG) opened at $1.94 on Thursday. Plug Power has a 1 year low of $0.95 and a 1 year high of $3.21. The company has a quick ratio of 0.86, a current ratio of 1.29 and a debt-to-equity ratio of 0.62.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Plug Power by 1.7% during the fourth quarter. BlackRock Inc. now owns 14,357,035 shares of the electronics maker’s stock valued at $33,883,000 after acquiring an additional 239,317 shares during the period. Vanguard Group Inc. lifted its stake 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 valued at $21,283,000 after acquiring an additional 2,444,005 shares during the period. State Street Corp lifted its stake in shares of Plug Power by 14.6% during the second quarter. State Street Corp now owns 3,742,566 shares of the electronics maker’s stock valued at $7,635,000 after acquiring an additional 477,438 shares during the period. Northern Trust Corp lifted its stake in shares of Plug Power by 39.5% during the second quarter. Northern Trust Corp now owns 2,828,390 shares of the electronics maker’s stock valued at $5,770,000 after acquiring an additional 800,320 shares during the period. Finally, Allianz Asset Management GmbH acquired a new position in shares of Plug Power during the fourth quarter valued at $4,198,000. 26.83% of the stock is currently owned by institutional investors and hedge funds.
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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.
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