Plug Power Inc. (NASDAQ:PLUG) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Plug Power Inc. (NASDAQ:PLUG - Free Report) by 75.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,407,949 shares of the electronics maker's stock after acquiring an additional 604,068 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.15% of Plug Power worth $2,999,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PLUG. Oppenheimer & Co. Inc. bought a new stake in Plug Power during the 4th quarter valued at about $25,000. Pacific Sage Partners LLC purchased a new position in Plug Power in the fourth quarter worth $25,000. Jones Financial Companies Lllp boosted 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 worth $25,000 after acquiring an additional 6,074 shares in the last quarter. Callan Family Office LLC purchased a new position in shares of Plug Power in the fourth quarter worth $27,000. Finally, Millburn Ridgefield Corp grew its stake in Plug Power by 79.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker's stock valued at $29,000 after purchasing an additional 5,631 shares during the last quarter. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PLUG. Truist Financial cut their price objective on shares of Plug Power from $2.00 to $1.50 and set a "hold" rating for the company in a report on Wednesday, March 5th. Piper Sandler lowered their target price on Plug Power from $1.40 to $1.10 and set an "underweight" rating for the company in a report on Wednesday, March 5th. B. Riley lowered their price target on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Susquehanna dropped their price target on Plug Power from $2.50 to $1.80 and set a "neutral" rating on the stock in a research note on Wednesday, March 5th. Finally, HC Wainwright lowered their price objective on Plug Power from $5.00 to $3.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Plug Power presently has a consensus rating of "Hold" and an average price target of $2.34.

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Plug Power Stock Performance

Shares of NASDAQ:PLUG traded down $0.05 during trading on Wednesday, hitting $1.58. 92,953,217 shares of the company traded hands, compared to its average volume of 47,386,560. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The business's fifty day moving average is $1.93 and its 200-day moving average is $2.08. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -0.74 and a beta of 1.98. Plug Power Inc. has a one year low of $1.37 and a one year high of $4.90.

Plug Power Company 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.