Pictet Asset Management SA Purchases 39,047 Shares of Plug Power Inc. (NASDAQ:PLUG)

Pictet Asset Management SA lifted its position in Plug Power Inc. (NASDAQ:PLUGGet Rating) by 17.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 265,353 shares of the electronics maker’s stock after acquiring an additional 39,047 shares during the quarter. Pictet Asset Management SA’s holdings in Plug Power were worth $4,397,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Clearstead Advisors LLC grew its stake in shares of Plug Power by 19.6% in the 1st quarter. Clearstead Advisors LLC now owns 3,045 shares of the electronics maker’s stock worth $87,000 after acquiring an additional 500 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Plug Power by 1.9% in the 1st quarter. CIBC Asset Management Inc now owns 28,496 shares of the electronics maker’s stock worth $815,000 after acquiring an additional 522 shares in the last quarter. D.A. Davidson & CO. grew its position in Plug Power by 1.8% during the second quarter. D.A. Davidson & CO. now owns 35,603 shares of the electronics maker’s stock valued at $590,000 after buying an additional 645 shares during the period. Kistler Tiffany Companies LLC grew its position in Plug Power by 9.1% during the second quarter. Kistler Tiffany Companies LLC now owns 7,935 shares of the electronics maker’s stock valued at $131,000 after buying an additional 660 shares during the period. Finally, Quadrant Capital Group LLC grew its position in Plug Power by 30.9% during the first quarter. Quadrant Capital Group LLC now owns 2,875 shares of the electronics maker’s stock valued at $82,000 after buying an additional 678 shares during the period. Institutional investors own 51.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Plug Power in a research report on Tuesday, October 18th. They set a “buy” rating and a $28.00 price target for the company. Truist Financial reduced their price target on shares of Plug Power from $32.00 to $18.00 in a research report on Thursday, November 10th. Cowen reduced their price target on shares of Plug Power from $33.00 to $30.00 in a research report on Wednesday, November 9th. Oppenheimer reduced their price target on shares of Plug Power from $63.00 to $31.00 in a research report on Wednesday, November 9th. Finally, KeyCorp upped their price objective on shares of Plug Power from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, August 10th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.09.

Plug Power Trading Down 2.8 %

Shares of Plug Power stock opened at $15.84 on Friday. Plug Power Inc. has a 12-month low of $12.70 and a 12-month high of $46.50. The company has a market cap of $9.23 billion, a price-to-earnings ratio of -13.20 and a beta of 1.56. The company has a current ratio of 6.09, a quick ratio of 5.23 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $19.82 and its 200-day moving average price is $20.21.

Plug Power Company Profile

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Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including green hydrogen production, storage and delivery, and energy generation through mobile or stationary applications.

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Institutional Ownership by Quarter for Plug Power (NASDAQ:PLUG)

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