Plug Power Inc. (NASDAQ:PLUG) Given Average Recommendation of “Moderate Buy” by Brokerages

Plug Power Inc. (NASDAQ:PLUG – Get Rating) has been given a consensus recommendation of “Moderate Buy” by the twenty-four analysts that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $23.86.

PLUG has been the subject of a number of research analyst reports. Cowen cut their target price on shares of Plug Power from $30.00 to $23.00 in a research report on Thursday, January 26th. Susquehanna cut their target price on shares of Plug Power from $28.00 to $25.00 in a research report on Thursday, January 26th. UBS Group initiated coverage on shares of Plug Power in a research report on Tuesday, December 13th. They set a “buy” rating and a $26.00 target price for the company. Oppenheimer cut their target price on shares of Plug Power from $63.00 to $31.00 in a research report on Wednesday, November 9th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Plug Power from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, March 2nd.

Plug Power Stock Performance

Shares of PLUG opened at $13.78 on Thursday. The company has a market capitalization of $8.18 billion, a PE ratio of -11.02 and a beta of 1.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.20 and a quick ratio of 4.19. Plug Power has a one year low of $11.49 and a one year high of $32.05. The company’s fifty day moving average price is $15.19 and its 200 day moving average price is $17.90.

Institutional Trading of Plug Power

Several large investors have recently added to or reduced their stakes in PLUG. US Bancorp DE grew its stake in Plug Power by 7.9% during the first quarter. US Bancorp DE now owns 11,362 shares of the electronics maker’s stock worth $324,000 after buying an additional 833 shares during the last quarter. MetLife Investment Management LLC bought a new stake in Plug Power during the first quarter worth about $947,000. Dimensional Fund Advisors LP grew its stake in Plug Power by 34.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,250,478 shares of the electronics maker’s stock worth $35,771,000 after buying an additional 320,262 shares during the last quarter. Blair William & Co. IL grew its stake in Plug Power by 12.6% during the first quarter. Blair William & Co. IL now owns 8,328 shares of the electronics maker’s stock worth $238,000 after buying an additional 934 shares during the last quarter. Finally, Prudential PLC bought a new stake in Plug Power during the first quarter worth about $248,000. 52.07% of the stock is owned by institutional investors.

Plug Power Company Profile

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Plug Power, Inc provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses.