74,633 Shares in Plug Power Inc. (NASDAQ:PLUG) Purchased by Cibc World Markets Corp

Cibc World Markets Corp acquired a new stake in shares of Plug Power Inc. (NASDAQ:PLUG) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 74,633 shares of the electronics maker’s stock, valued at approximately $159,000.

A number of other institutional investors also recently bought and sold shares of the stock. Pacific Sage Partners LLC purchased a new position in shares of Plug Power during the fourth quarter valued at approximately $25,000. Oppenheimer & Co. Inc. purchased a new stake in Plug Power during the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp lifted its position in 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 in the last quarter. Callan Family Office LLC purchased a new position in shares of Plug Power during the 4th quarter valued at about $27,000. Finally, First Commonwealth Financial Corp PA bought a new position in shares of Plug Power in the third quarter worth approximately $29,000. 43.48% of the stock is owned by institutional investors.

Plug Power Price Performance

Shares of PLUG opened at $1.46 on Thursday. The company has a market capitalization of $1.35 billion, a P/E ratio of -0.68 and a beta of 1.98. Plug Power Inc. has a fifty-two week low of $1.37 and a fifty-two week high of $4.90. The business’s 50-day moving average is $1.79 and its two-hundred day moving average is $2.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PLUG. B. Riley dropped their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. StockNews.com upgraded shares of Plug Power to a “sell” rating in a research report on Tuesday, March 4th. Morgan Stanley lowered their price target on Plug Power from $1.75 to $1.60 and set an “underweight” rating for the company in a research report on Thursday, March 6th. Piper Sandler dropped their target price on Plug Power from $1.40 to $1.10 and set an “underweight” rating for the company in a research report on Wednesday, March 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $3.00 price objective on shares of Plug Power in a research report on Monday. Six analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Plug Power currently has a consensus rating of “Hold” and an average price target of $2.31.

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.