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

Cibc World Markets Corp has newly invested in Plug Power Inc. (NASDAQ:PLUG) by purchasing 74,633 shares of the company in the fourth quarter, as disclosed in their latest Form 13F filing with the SEC. This acquisition is valued at approximately $159,000.

Additionally, several other institutional investors have also recently made transactions with Plug Power stock. For instance, Pacific Sage Partners LLC acquired a new position during the fourth quarter, worth about $25,000. Oppenheimer & Co. Inc. similarly bought a stake valued at approximately $25,000 in the same timeframe. Furthermore, Jones Financial Companies Lllp increased their position by 107.4% during the fourth quarter, owning a total of 11,730 shares worth $25,000 after purchasing an additional 6,074 shares. Callan Family Office LLC also initiated a new investment during the fourth quarter, valued at around $27,000. Lastly, First Commonwealth Financial Corp PA made a purchase in the third quarter valued at about $29,000. Overall, institutional investors hold approximately 43.48% of Plug Power’s stock.

Plug Power Stock Performance

On Thursday, Plug Power shares opened at $1.46. The company has a market capitalization of $1.35 billion, a P/E ratio of -0.68, and a beta of 1.98. Over the past year, the stock has fluctuated, recording a low of $1.37 and a high of $4.90. Its 50-day moving average stands at $1.79, while the two-hundred day average is $2.07. The company maintains a debt-to-equity ratio of 0.15, a quick ratio of 0.95, and a current ratio of 2.08.

Analyst Opinions on Plug Power

Various research firms have recently shared their perspectives on Plug Power. B. Riley has reduced their price target from $4.00 to $3.00 while issuing a “buy” rating for the company as of March 5th. Meanwhile, StockNews.com has upgraded Plug Power to a “sell” rating on March 4th. Morgan Stanley has also adjusted their price target down from $1.75 to $1.60, maintaining an “underweight” rating. Piper Sandler has further decreased their target from $1.40 to $1.10 and keeps an “underweight” rating. HC Wainwright has reissued a “buy” rating and set a price objective of $3.00 for the shares. Currently, six analysts have assigned a sell rating, eight have given it a hold rating, and five have labeled the stock as a buy. According to MarketBeat.com, the consensus rating for Plug Power is “Hold,” with an average price target set at $2.31.

About Plug Power Inc.

Plug Power Inc. specializes in the development of hydrogen and fuel cell product solutions across North America, Europe, Asia, and other regions. Their offerings include GenDrive, a hydrogen-powered proton exchange membrane (PEM) fuel cell system designed for material handling electric vehicles; GenSure, a customizable stationary fuel cell solution for telecommunications, transportation, and utility sectors; ProGen, fuel cell stack and engine technology used in mobility and stationary applications, including electric delivery vehicles; GenFuel, a liquid hydrogen fueling delivery system; GenCare, an advanced maintenance program utilizing IoT for their fuel cell systems; and GenKey, a comprehensive solution for transitioning to fuel cell technology.

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