Plug Power Inc. [NASDAQ: PLUG] stock went on a downward path that fall over -5.97% on Wednesday, amounting to a one-week price increase of more than 13.93%. The company report on August 12, 2020 that Plug Power Inc. Announces Pricing of Public Offering of Common Stock.
Plug Power Inc. (“Plug Power”) (Nasdaq: PLUG), a leader in providing clean, reliable energy solutions, today announced the pricing of the previously announced offering of 30,675,000 shares of its common stock at a price to the public of $10.25 per share. Plug Power has granted the underwriters a 30-day option to purchase up to an additional 4,601,250 shares at the public offering price, less the underwriting discount. The offering is expected to close on or about August 14, 2020, subject to satisfaction of customary closing conditions. Morgan Stanley is acting as sole book-running manager and Barclays, Roth Capital Partners, Craig-Hallum Capital Group and H.C. Wainwright are acting as co-managers.
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The securities described are being offered by Plug Power pursuant to an automatic shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission (the “SEC”) and declared effective by the SEC. A preliminary prospectus supplement related to the offering has been filed with the SEC. Before you invest, you should read the preliminary prospectus supplement and the accompanying prospectus in that registration statement and other documents filed with the SEC for more information about Plug Power and this offering. You may obtain these documents free of charge by visiting the SEC’s website at www.sec.gov. Copies of the preliminary prospectus and the accompanying prospectus relating to the securities being offered may also be obtained from Morgan Stanley at Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.
Over the last 12 months, PLUG stock rose by 403.79%. The one-year Plug Power Inc. stock forecast points to a potential upside of 0.37. The average equity rating for PLUG stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.28 billion, with 332.17 million shares outstanding and 313.79 million shares in the current float. Compared to the average trading volume of 23.46M shares, PLUG stock reached a trading volume of 63941080 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Plug Power Inc. [PLUG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PLUG shares is $10.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PLUG stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for Plug Power Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on July 09, 2020. While these analysts kept the previous recommendation, H.C. Wainwright dropped their target price from $6 to $14. The new note on the price target was released on June 24, 2020, representing the official price target for Plug Power Inc. stock.
The Average True Range (ATR) for Plug Power Inc. is set at 0.87, with the Price to Sales ratio for PLUG stock in the period of the last 12 months amounting to 12.99. The Price to Book ratio for the last quarter was 29.53, with the Price to Cash per share for the same quarter was set at 0.24.
PLUG Stock Performance Analysis:
Plug Power Inc. [PLUG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.93. With this latest performance, PLUG shares gained by 22.89% in over the last four-week period, additionally plugging by 137.28% over the last 6 months – not to mention a rise of 403.79% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PLUG stock in for the last two-week period is set at 62.16, with the RSI for the last a single of trading hit 60.16, and the three-weeks RSI is set at 61.86 for Plug Power Inc. [PLUG]. The present Moving Average for the last 50 days of trading for this stock 7.87, while it was recorded at 11.20 for the last single week of trading, and 4.83 for the last 200 days.
Insight into Plug Power Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Plug Power Inc. [PLUG] shares currently have an operating margin of -21.73 and a Gross Margin at +12.15. Plug Power Inc.’s Net Margin is presently recorded at -37.12.
Return on Total Capital for PLUG is now -10.21, given the latest momentum, and Return on Invested Capital for the company is -21.03. Return on Equity for this stock declined to -100.44, with Return on Assets sitting at -14.72. When it comes to the capital structure of this company, Plug Power Inc. [PLUG] has a Total Debt to Total Equity ratio set at 395.46. Additionally, PLUG Total Debt to Total Capital is recorded at 79.82, with Total Debt to Total Assets ending up at 69.65. Long-Term Debt to Equity for the company is recorded at 342.43, with the Long-Term Debt to Total Capital now at 68.53.
Reflecting on the efficiency of the workforce at the company, Plug Power Inc. [PLUG] managed to generate an average of -$102,353 per employee. Receivables Turnover for the company is 6.06 with a Total Asset Turnover recorded at a value of 0.40.Plug Power Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.80.
PLUG Stock EPS
With the latest financial reports released by the company, Plug Power Inc. posted -0.09/share EPS, while the average EPS was predicted by analysts to be reported at -0.08/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -12.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PLUG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Plug Power Inc. go to 25.00%.
Plug Power Inc. [PLUG] Insider Position Details
There are presently around $1,623 million, or 50.20% of PLUG stock, in the hands of institutional investors. The top three institutional holders of PLUG stocks are: BLACKROCK INC. with ownership of 27,423,760, which is approximately 27.313% of the company’s market cap and around 0.80% of the total institutional ownership; VANGUARD GROUP INC, holding 15,132,144 shares of the stock with an approximate value of $160.85 million in PLUG stocks shares; and HOOD RIVER CAPITAL MANAGEMENT LLC, currently with $143.65 million in PLUG stock with ownership of nearly 94.71% of the company’s market capitalization.
140 institutional holders increased their position in Plug Power Inc. [NASDAQ:PLUG] by around 49,607,351 shares. Additionally, 69 investors decreased positions by around 13,588,355 shares, while 51 investors held positions by with 89,440,740 shares. The mentioned changes placed institutional holdings at 152,636,446 shares, according to the latest SEC report filing. PLUG stock had 56 new institutional investments in for a total of 14,014,868 shares, while 34 institutional investors sold positions of 3,719,605 shares during the same period.