HC Wainwright set a $4.00 target price on Plug Power (NASDAQ:PLUG) in a research note issued to investors on Thursday morning. The brokerage currently has a buy rating on the electronics maker’s stock.
PLUG has been the topic of several other research reports. Zacks Investment Research lowered Plug Power from a buy rating to a hold rating in a research note on Friday, January 12th. B. Riley set a $4.00 target price on Plug Power and gave the company a buy rating in a research note on Friday, February 9th. ValuEngine lowered Plug Power from a sell rating to a strong sell rating in a research note on Thursday, March 1st. Finally, Canaccord Genuity began coverage on Plug Power in a research note on Friday, December 1st. They issued a buy rating and a $5.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $3.48.
Plug Power (NASDAQ PLUG) opened at $1.94 on Thursday. Plug Power has a one year low of $0.95 and a one year high of $3.21. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.29 and a quick ratio of 0.86.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EAM Investors LLC raised its position in shares of Plug Power by 83.0% during the third quarter. EAM Investors LLC now owns 543,608 shares of the electronics maker’s stock worth $1,419,000 after purchasing an additional 246,620 shares during the period. State Street Corp raised its position 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 worth $7,635,000 after purchasing an additional 477,438 shares during the period. ARK Investment Management LLC raised its position in shares of Plug Power by 22.2% during the fourth quarter. ARK Investment Management LLC now owns 412,391 shares of the electronics maker’s stock worth $973,000 after purchasing an additional 74,934 shares during the period. Ark Investment Management LLC acquired a new stake in shares of Plug Power during the second quarter worth about $397,000. Finally, Vanguard Group Inc. raised its position 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 worth $21,283,000 after purchasing an additional 2,444,005 shares during the period. 26.83% of the stock is currently owned by institutional investors.
Plug Power Company Profile
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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