Several other research analysts have also recently commented on the company. Zacks Investment Research raised Plug Power from a sell rating to a hold rating in a research report on Thursday, August 8th. HC Wainwright reissued a buy rating and set a $4.00 price target on shares of Plug Power in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $2.96.
Shares of NASDAQ PLUG opened at $2.80 on Wednesday. The stock has a 50 day moving average price of $2.25 and a 200 day moving average price of $2.36. Plug Power has a 52 week low of $0.99 and a 52 week high of $2.94. The company has a debt-to-equity ratio of 66.88, a current ratio of 1.49 and a quick ratio of 0.78.
A number of hedge funds and other institutional investors have recently modified their holdings of PLUG. KAMES CAPITAL plc acquired a new position in Plug Power during the second quarter valued at approximately $10,731,000. Nuveen Asset Management LLC acquired a new stake in shares of Plug Power in the second quarter valued at approximately $2,800,000. Vanguard Group Inc. lifted its position in shares of Plug Power by 8.1% in the second quarter. Vanguard Group Inc. now owns 12,247,704 shares of the electronics maker’s stock valued at $27,557,000 after buying an additional 922,937 shares during the last quarter. Invesco Ltd. lifted its position in shares of Plug Power by 56.6% in the second quarter. Invesco Ltd. now owns 2,316,548 shares of the electronics maker’s stock valued at $5,212,000 after buying an additional 836,970 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Plug Power in the second quarter valued at approximately $666,000. 32.15% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading: What does the Producer Price Index (PPI) tell investors?
Receive News & Ratings for Plug Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plug Power and related companies with MarketBeat.com's FREE daily email newsletter.