Plug Power (NASDAQ:PLUG) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Tuesday, ValuEngine reports.
Other analysts also recently issued research reports about the stock. Roth Capital raised shares of Plug Power from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $3.00 to $6.00 in a report on Monday, November 11th. BidaskClub raised shares of Plug Power from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 28th. Cowen set a $3.00 price target on shares of Plug Power and gave the stock a “buy” rating in a report on Tuesday, September 17th. Zacks Investment Research downgraded shares of Plug Power from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, HC Wainwright set a $4.00 price target on shares of Plug Power and gave the stock a “buy” rating in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $4.50.
NASDAQ PLUG opened at $3.80 on Tuesday. The company has a market capitalization of $1.02 billion, a P/E ratio of -10.56 and a beta of 1.66. Plug Power has a 12-month low of $0.99 and a 12-month high of $4.04. The firm has a 50-day moving average price of $3.15 and a two-hundred day moving average price of $2.57.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Plug Power by 8.1% during the 2nd quarter. Vanguard Group Inc. now owns 12,247,704 shares of the electronics maker’s stock worth $27,557,000 after acquiring an additional 922,937 shares during the period. KAMES CAPITAL plc lifted its holdings 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 acquiring an additional 1,082,688 shares during the period. State Street Corp lifted its holdings 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 acquiring an additional 478,614 shares during the period. Northern Trust Corp lifted its holdings 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 acquiring an additional 31,685 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Plug Power by 56.6% during the 2nd quarter. Invesco Ltd. now owns 2,316,548 shares of the electronics maker’s stock worth $5,212,000 after acquiring an additional 836,970 shares during the period. 32.17% of the stock is owned by 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.
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