Plug Power (PLUG) Shares Gap Up to $1.75

Plug Power Inc (NASDAQ:PLUG) gapped up prior to trading on Tuesday . The stock had previously closed at $1.71, but opened at $1.75. Plug Power shares last traded at $1.77, with a volume of 3032379 shares.

PLUG has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Plug Power from a “hold” rating to a “buy” rating and set a $1.50 target price for the company in a research report on Wednesday, December 19th. HC Wainwright reiterated a “buy” rating and issued a $4.00 target price on shares of Plug Power in a research report on Thursday, January 10th. BidaskClub downgraded shares of Plug Power from a “hold” rating to a “sell” rating in a research report on Wednesday, December 5th. Finally, ValuEngine upgraded shares of Plug Power from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $2.94.

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The company has a current ratio of 1.06, a quick ratio of 0.60 and a debt-to-equity ratio of 10.93. The stock has a market capitalization of $420.09 million, a PE ratio of -2.95 and a beta of 1.90.

Hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank raised its holdings in shares of Plug Power by 154.8% during the 4th quarter. Amalgamated Bank now owns 32,671 shares of the electronics maker’s stock valued at $41,000 after purchasing an additional 19,851 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Plug Power by 27.4% during the 4th quarter. Legal & General Group Plc now owns 39,763 shares of the electronics maker’s stock valued at $50,000 after purchasing an additional 8,556 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Plug Power by 38.0% during the 4th quarter. Advisor Group Inc. now owns 53,000 shares of the electronics maker’s stock valued at $66,000 after purchasing an additional 14,590 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Plug Power during the 3rd quarter valued at $121,000. Finally, Metropolitan Life Insurance Co. NY raised its holdings in shares of Plug Power by 343.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 73,495 shares of the electronics maker’s stock valued at $91,000 after purchasing an additional 56,912 shares in the last quarter. Institutional investors own 27.65% of the company’s stock.

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About Plug Power (NASDAQ:PLUG)

Plug Power Inc, an alternative energy technology provider, engages in the design, development, commercialization, and manufacture 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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