Zurcher Kantonalbank Zurich Cantonalbank Has $3 Million Stock Holdings in Plug Power Inc. (NASDAQ:PLUG)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Plug Power Inc. (NASDAQ:PLUG) by 75.1% during the 4th quarter, HoldingsChannel reports. The fund owned 1,407,949 shares of the electronics maker’s stock after purchasing an additional 604,068 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Plug Power were worth $2,999,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Pacific Sage Partners LLC bought a new stake in Plug Power in the fourth quarter valued at about $25,000. Oppenheimer & Co. Inc. bought a new stake in Plug Power in the fourth quarter valued at about $25,000. Jones Financial Companies Lllp increased its holdings in Plug Power by 107.4% in 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 last quarter. Callan Family Office LLC bought a new stake in Plug Power in the fourth quarter valued at about $27,000. Finally, First Commonwealth Financial Corp PA bought a new stake in Plug Power in the third quarter valued at about $29,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Truist Financial dropped their price objective on Plug Power from $2.00 to $1.50 and set a “hold” rating for the company in a report on Wednesday, March 5th. Seaport Res Ptn downgraded Plug Power from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. HC Wainwright lowered their price target on Plug Power from $5.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. B. Riley lowered their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, Susquehanna lowered their price target on Plug Power from $2.50 to $1.80 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $2.34.

Plug Power Stock Performance

NASDAQ:PLUG opened at $1.66 on Friday. The stock has a market cap of $1.54 billion, a P/E ratio of -0.78 and a beta of 1.98. The stock has a 50 day simple moving average of $1.99 and a 200 day simple moving average of $2.08. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Plug Power Inc. has a 1-year low of $1.37 and a 1-year high of $4.90.

Plug Power Profile

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.