Zurcher Kantonalbank Zurich Cantonalbank Acquires 604,068 Shares of Plug Power Inc. (NASDAQ:PLUG)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Plug Power Inc. (NASDAQ:PLUG) by 75.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,407,949 shares of the electronics maker’s stock after buying an additional 604,068 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.15% of Plug Power worth $2,999,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PLUG. Pacific Sage Partners LLC bought a new stake in shares of Plug Power during the fourth quarter valued at approximately $25,000. Oppenheimer & Co. Inc. bought a new stake in shares of Plug Power during the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp increased its position in shares of Plug Power by 107.4% during the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 6,074 shares during the period. Callan Family Office LLC bought a new stake in shares of Plug Power during the fourth quarter valued at approximately $27,000. Finally, First Commonwealth Financial Corp PA bought a new stake in shares of Plug Power during the third quarter valued at approximately $29,000. 43.48% of the stock is owned by institutional investors.

Plug Power Trading Up 0.6 %

Shares of PLUG opened at $1.66 on Friday. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. Plug Power Inc. has a 12-month low of $1.37 and a 12-month high of $4.90. The firm has a market capitalization of $1.54 billion, a PE ratio of -0.78 and a beta of 1.98. The stock’s fifty day simple moving average is $1.99 and its 200-day simple moving average is $2.08.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. B. Riley lowered their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley lowered their price objective on Plug Power from $1.75 to $1.60 and set an “underweight” rating on the stock in a research report on Thursday, March 6th. StockNews.com upgraded Plug Power to a “sell” rating in a research report on Tuesday, March 4th. Piper Sandler lowered their price target on Plug Power from $1.40 to $1.10 and set an “underweight” rating on the stock in a research report on Wednesday, March 5th. Finally, BMO Capital Markets lowered their price target on Plug Power from $1.60 to $1.40 and set an “underperform” rating on the stock in a research report on Wednesday, March 5th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.34.

About Plug Power

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.