Plug Power Inc. (NASDAQ:PLUG – Get Rating) reached a new 52-week low during trading on Tuesday . The company traded as low as $8.06 and last traded at $8.06, with a volume of 14449817 shares traded. The stock had previously closed at $9.29.
Analysts Set New Price Targets
A number of equities research analysts recently commented on PLUG shares. UBS Group decreased their price target on Plug Power from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, April 21st. Cowen decreased their price objective on Plug Power from $30.00 to $23.00 in a research report on Thursday, January 26th. Piper Sandler decreased their price objective on Plug Power from $12.00 to $10.00 in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on Plug Power from $23.00 to $20.00 in a research report on Monday, May 1st. Finally, BMO Capital Markets reduced their price target on Plug Power from $10.00 to $7.50 in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Plug Power currently has a consensus rating of “Moderate Buy” and an average target price of $21.39.
Plug Power Price Performance
The company has a 50 day simple moving average of $10.41 and a 200-day simple moving average of $13.47. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of -6.26 and a beta of 1.75. The company has a current ratio of 5.20, a quick ratio of 4.19 and a debt-to-equity ratio of 0.12.
Hedge Funds Weigh In On Plug Power
Several hedge funds have recently modified their holdings of PLUG. US Bancorp DE grew its holdings in shares of Plug Power by 7.9% in the 1st quarter. US Bancorp DE now owns 11,362 shares of the electronics maker’s stock valued at $324,000 after acquiring an additional 833 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of Plug Power in the 1st quarter valued at about $947,000. Dimensional Fund Advisors LP grew its holdings in shares of Plug Power by 34.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,250,478 shares of the electronics maker’s stock valued at $35,771,000 after acquiring an additional 320,262 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Plug Power by 12.6% in the 1st quarter. Blair William & Co. IL now owns 8,328 shares of the electronics maker’s stock valued at $238,000 after acquiring an additional 934 shares in the last quarter. Finally, Prudential PLC bought a new position in shares of Plug Power in the 1st quarter valued at about $248,000. Institutional investors own 52.07% of the company’s stock.
Plug Power Company Profile
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.
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