Swiss National Bank Has $3.13 Million Stake in Plug Power Inc. (NASDAQ:PLUG)

Swiss National Bank reduced its position in shares of Plug Power Inc. (NASDAQ:PLUG) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,470,588 shares of the electronics maker’s stock after selling 52,500 shares during the period. Swiss National Bank’s holdings in Plug Power were worth $3,132,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Avantax Planning Partners Inc. lifted its holdings in shares of Plug Power by 54.0% during the fourth quarter. Avantax Planning Partners Inc. now owns 18,722 shares of the electronics maker’s stock worth $40,000 after buying an additional 6,561 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Plug Power by 75.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,407,949 shares of the electronics maker’s stock worth $2,999,000 after acquiring an additional 604,068 shares during the period. PNC Financial Services Group Inc. raised its stake in Plug Power by 53.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,410 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 5,348 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Plug Power in the 4th quarter valued at about $38,000. Finally, Callan Family Office LLC acquired a new position in shares of Plug Power during the 4th quarter worth approximately $27,000. 43.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Plug Power Trading Down 4.6 %

Shares of PLUG stock opened at $1.46 on Thursday. Plug Power Inc. has a twelve month low of $1.37 and a twelve month high of $4.90. The stock’s fifty day simple moving average is $1.79 and its 200 day simple moving average is $2.07. 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 capitalization of $1.35 billion, a P/E ratio of -0.68 and a beta of 1.98.

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.