Several other brokerages have also recently issued reports on PLUG. Roth Capital raised Plug Power from a neutral rating to a buy rating and lifted their price objective for the stock from $3.00 to $6.00 in a report on Monday, November 11th. HC Wainwright set a $4.00 target price on Plug Power and gave the company a buy rating in a report on Wednesday, September 18th. BidaskClub upgraded Plug Power from a buy rating to a strong-buy rating in a research report on Thursday, November 28th. Zacks Investment Research cut Plug Power from a buy rating to a hold rating in a research report on Tuesday, November 12th. Finally, B. Riley reaffirmed a buy rating and set a $6.00 price target (up previously from $3.50) on shares of Plug Power in a research note on Monday, November 25th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $4.50.
Shares of Plug Power stock opened at $3.38 on Tuesday. The company has a 50-day moving average of $3.16 and a two-hundred day moving average of $2.57. Plug Power has a 12-month low of $0.99 and a 12-month high of $4.04. The stock has a market cap of $1.02 billion, a PE ratio of -9.39 and a beta of 1.66.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew 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 purchasing an additional 922,937 shares during the last quarter. KAMES CAPITAL plc raised its position in shares of Plug Power by 22.5% during the 3rd quarter. KAMES CAPITAL plc now owns 5,894,797 shares of the electronics maker’s stock worth $15,444,000 after purchasing an additional 1,082,688 shares during the last quarter. State Street Corp raised its position in shares of Plug Power by 11.0% during the 3rd quarter. State Street Corp now owns 4,845,012 shares of the electronics maker’s stock worth $12,742,000 after purchasing an additional 478,614 shares during the last quarter. Northern Trust Corp raised its position in shares of Plug Power by 1.2% during the 2nd quarter. Northern Trust Corp now owns 2,630,832 shares of the electronics maker’s stock worth $5,919,000 after purchasing an additional 31,685 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Plug Power by 56.6% in the 2nd 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 in the last quarter. 32.17% of the stock is currently owned by institutional investors.
Plug Power Company Profile
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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