Plug Power (NASDAQ:PLUG) had its target price boosted by Barclays from $12.00 to $13.00 in a research report released on Friday morning, The Fly reports. They currently have an equal weight rating on the electronics maker’s stock.
A number of other research firms also recently commented on PLUG. ValuEngine raised Plug Power from a hold rating to a buy rating in a research note on Monday, August 3rd. B. Riley boosted their price target on Plug Power from $7.00 to $8.00 and gave the company a buy rating in a research note on Wednesday, June 24th. Canaccord Genuity boosted their price target on Plug Power from $7.00 to $8.50 and gave the company a buy rating in a research note on Wednesday, June 24th. HC Wainwright reaffirmed a buy rating and issued a $14.00 price target on shares of Plug Power in a research note on Thursday, July 16th. Finally, BidaskClub downgraded Plug Power from a strong-buy rating to a buy rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $9.41.
Shares of Plug Power stock opened at $11.65 on Friday. The firm has a 50-day moving average of $12.23 and a 200-day moving average of $7.10. The stock has a market cap of $4.68 billion, a PE ratio of -37.58 and a beta of 1.31. Plug Power has a 52-week low of $2.32 and a 52-week high of $14.35. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.34 and a current ratio of 1.89.
In other Plug Power news, CAO Martin Daniel Hull sold 66,667 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $10.00, for a total transaction of $666,670.00. Following the completion of the transaction, the chief accounting officer now owns 75,503 shares of the company’s stock, valued at $755,030. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sanjay K. Shrestha sold 64,825 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $8.82, for a total value of $571,756.50. Following the completion of the transaction, the insider now directly owns 64,825 shares of the company’s stock, valued at approximately $571,756.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,397,755 shares of company stock valued at $26,419,208. Insiders own 4.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Two Sigma Advisers LP acquired a new position in shares of Plug Power in the second quarter valued at approximately $466,000. Two Sigma Securities LLC acquired a new position in shares of Plug Power in the second quarter valued at approximately $122,000. Principal Financial Group Inc. increased its stake in shares of Plug Power by 86.1% in the second quarter. Principal Financial Group Inc. now owns 53,537 shares of the electronics maker’s stock valued at $440,000 after buying an additional 24,763 shares during the period. Quadrature Capital Ltd increased its stake in shares of Plug Power by 67.1% in the second quarter. Quadrature Capital Ltd now owns 481,938 shares of the electronics maker’s stock valued at $3,957,000 after buying an additional 193,522 shares during the period. Finally, Handelsbanken Fonder AB acquired a new position in shares of Plug Power in the second quarter valued at approximately $9,854,000. 44.56% of the stock is 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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