Cibc World Markets Corp Makes New Investment in Plug Power Inc. (NASDAQ:PLUG)

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

Several other large investors also recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in Plug Power by 23.6% during the third quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock worth $43,388,000 after acquiring an additional 3,662,456 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Plug Power by 25.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock worth $15,000,000 after purchasing an additional 1,354,500 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Plug Power in the 3rd quarter valued at about $2,174,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Plug Power by 75.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,407,949 shares of the electronics maker’s stock worth $2,999,000 after buying an additional 604,068 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Plug Power by 24.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker’s stock worth $5,472,000 after acquiring an additional 476,060 shares in the last quarter. Institutional investors and hedge funds own 43.48% of the company’s stock.

Analyst Upgrades and Downgrades

PLUG has been the topic of a number of research reports. UBS Group lowered their target price on Plug Power from $2.50 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, March 21st. B. Riley dropped their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. BMO Capital Markets decreased their target price on shares of Plug Power from $1.60 to $1.40 and set an “underperform” rating for the company in a research report on Wednesday, March 5th. Susquehanna dropped their price target on shares of Plug Power from $2.50 to $1.80 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Finally, StockNews.com upgraded Plug Power to a “sell” rating in a report on Tuesday, March 4th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.31.

Plug Power Trading Down 4.6 %

Shares of PLUG stock opened at $1.46 on Thursday. 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 firm has a market cap of $1.35 billion, a P/E ratio of -0.68 and a beta of 1.98. The company has a 50 day moving average of $1.79 and a 200-day moving average of $2.07. Plug Power Inc. has a 12-month low of $1.37 and a 12-month 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.