Plug Power (NASDAQ:PLUG) Lifted to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Plug Power (NASDAQ:PLUG) from a buy rating to a strong-buy rating in a report published on Tuesday morning, BidAskClub reports.

Several other equities analysts have also commented on PLUG. ValuEngine lowered Plug Power from a buy rating to a hold rating in a research note on Tuesday, December 3rd. Roth Capital upgraded Plug Power from a neutral rating to a buy rating and raised their price target for the company from $3.00 to $6.00 in a research note on Monday, November 11th. B. Riley restated a buy rating and set a $6.00 price target (up previously from $3.50) on shares of Plug Power in a research note on Monday, November 25th. Finally, Zacks Investment Research lowered Plug Power from a hold rating to a sell rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average price target of $4.50.

Shares of Plug Power stock opened at $4.42 on Tuesday. The firm has a market cap of $1.16 billion, a P/E ratio of -11.05 and a beta of 1.49. Plug Power has a 12 month low of $1.50 and a 12 month high of $4.53. The stock’s fifty day moving average price is $3.91 and its 200-day moving average price is $3.03.

In other Plug Power news, VP Gerard L. Conway, Jr. sold 99,999 shares of Plug Power stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $4.26, for a total value of $425,995.74. Following the transaction, the vice president now owns 62,961 shares in the company, valued at $268,213.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gerard L. Conway, Jr. sold 100,000 shares of Plug Power stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $3.50, for a total value of $350,000.00. Following the completion of the transaction, the vice president now owns 146,295 shares in the company, valued at approximately $512,032.50. The disclosure for this sale can be found here. Insiders sold 234,999 shares of company stock worth $915,996 in the last quarter. 6.00% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC acquired a new stake in Plug Power in the fourth quarter worth about $25,000. Advisors Asset Management Inc. boosted its holdings in Plug Power by 443.5% in the fourth quarter. Advisors Asset Management Inc. now owns 9,755 shares of the electronics maker’s stock worth $31,000 after acquiring an additional 7,960 shares in the last quarter. Citizens Financial Group Inc RI acquired a new stake in Plug Power in the fourth quarter worth about $35,000. GSB Wealth Management LLC boosted its holdings in Plug Power by 38.8% in the fourth quarter. GSB Wealth Management LLC now owns 13,880 shares of the electronics maker’s stock worth $44,000 after acquiring an additional 3,880 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Plug Power by 35.6% in the third quarter. SG Americas Securities LLC now owns 17,101 shares of the electronics maker’s stock worth $45,000 after acquiring an additional 4,494 shares in the last quarter. Institutional investors own 32.14% of the company’s stock.

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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