Shares of Plug Power Inc (NASDAQ:PLUG) were down 11.1% on Tuesday . The company traded as low as $3.17 and last traded at $3.38, approximately 18,881,330 shares were traded during trading. An increase of 294% from the average daily volume of 4,791,924 shares. The stock had previously closed at $3.80.
A number of brokerages recently issued reports on PLUG. BidaskClub upgraded Plug Power from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 28th. Roth Capital upgraded shares of Plug Power from a “neutral” rating to a “buy” rating and raised their target price for the stock from $3.00 to $6.00 in a research note on Monday, November 11th. HC Wainwright set a $4.00 price target on shares of Plug Power and gave the company a “buy” rating in a report on Wednesday, September 18th. ValuEngine lowered shares of Plug Power from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Zacks Investment Research cut shares of Plug Power from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Plug Power presently has an average rating of “Buy” and an average target price of $4.50.
The stock has a fifty day simple moving average of $3.16 and a 200 day simple moving average of $2.57. The firm has a market capitalization of $882.42 million, a P/E ratio of -9.39 and a beta of 1.66.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Alps Advisors Inc. boosted its stake in Plug Power by 110.3% in the 2nd quarter. Alps Advisors Inc. now owns 396,087 shares of the electronics maker’s stock worth $891,000 after purchasing an additional 207,701 shares during the period. Aperio Group LLC raised its position in shares of Plug Power by 22.9% during the second quarter. Aperio Group LLC now owns 277,537 shares of the electronics maker’s stock valued at $624,000 after buying an additional 51,784 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Plug Power by 26.7% in the second quarter. Advisor Group Inc. now owns 97,340 shares of the electronics maker’s stock worth $219,000 after buying an additional 20,500 shares in the last quarter. Fosun International Ltd purchased a new position in shares of Plug Power in the second quarter worth $53,000. Finally, California Public Employees Retirement System boosted its position in shares of Plug Power by 14.2% during the third quarter. California Public Employees Retirement System now owns 488,031 shares of the electronics maker’s stock worth $1,284,000 after acquiring an additional 60,651 shares during the last quarter. 32.17% of the stock is currently owned by institutional investors.
Plug Power Company Profile (NASDAQ:PLUG)
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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