Plug Power Inc. [PLUG] stock Upgrade by Morgan Stanley analyst, price target now $14

Plug Power Inc. [NASDAQ: PLUG] gained 2.28% on the last trading session, reaching $14.78 price per share at the time. The company report on October 22, 2020 that Plug Power Develops New GenDrive Products for The European Market.

New CE-certified products increase Plug Power’s European product portfolio to 15 GenDrive products.

Plug Power Inc. (NASDAQ: PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, has expanded its CE-certified GenDrive product line with the addition of three new fuel cell solutions designed for European industrial and material handling vehicles. The new products include the GenDrive 1600-80H CE for class-1 trucks up to 5 tons, GenDrive 3342-24 CE for class-3 trucks, as well as GenDrive 6100-48 CE for AGVs (automated guided vehicles) and tow-tractors. All three products were developed, engineered, tested, and released into production over the past twelve months to support our growing customer set and applications within the European market. Most notably, the 1600-80H includes Plug Power’s ProGen metal stack technology.

Plug Power Inc. represents 401.74 million in outstanding shares, while the company has a total market value of $5.56 billion with the latest information. PLUG stock price has been found in the range of $14.3314 to $15.24.

If compared to the average trading volume of 27.34M shares, PLUG reached a trading volume of 20787785 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $14.27 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 1.80. 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.

Morgan Stanley have made an estimate for Plug Power Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 28, 2020. The new note on the price target was released on August 18, 2020, representing the official price target for Plug Power Inc. stock. Previously, the target price had yet another raise to $10, while Barclays analysts kept a Equal Weight rating on PLUG stock. On June 24, 2020, analysts increased their price target for PLUG shares from 6 to 14.

The Average True Range (ATR) for Plug Power Inc. is set at 1.10, with the Price to Sales ratio for PLUG stock in the period of the last 12 months amounting to 21.11. The Price to Book ratio for the last quarter was 19.45, with the Price to Cash per share for the same quarter was set at 0.41.

Trading performance analysis for PLUG stock

Plug Power Inc. [PLUG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.21. With this latest performance, PLUG shares gained by 12.01% in over the last four-week period, additionally plugging by 234.50% over the last 6 months – not to mention a rise of 406.34% 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 46.93, with the RSI for the last a single of trading hit 41.52, and the three-weeks RSI is set at 51.61 for Plug Power Inc. [PLUG]. The present Moving Average for the last 50 days of trading for this stock 14.01, while it was recorded at 14.82 for the last single week of trading, and 7.65 for the last 200 days.

Plug Power Inc. [PLUG]: A deeper dive into fundamental analysis

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 1.30 and a Current Ratio set at 1.90.

Plug Power Inc. [PLUG]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Plug Power Inc. [PLUG]

There are presently around $2,683 million, or 54.60% of PLUG stock, in the hands of institutional investors. The top three institutional holders of PLUG stocks are: BLACKROCK INC. with ownership of 33,525,137, which is approximately 22.249% of the company’s market cap and around 1.00% of the total institutional ownership; VANGUARD GROUP INC, holding 16,280,446 shares of the stock with an approximate value of $240.71 million in PLUG stocks shares; and D. E. SHAW & CO., INC., currently with $194.35 million in PLUG stock with ownership of nearly 110.636% of the company’s market capitalization.

Positions in Plug Power Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 158 institutional holders increased their position in Plug Power Inc. [NASDAQ:PLUG] by around 46,502,667 shares. Additionally, 79 investors decreased positions by around 12,742,164 shares, while 50 investors held positions by with 122,189,458 shares. The mentioned changes placed institutional holdings at 181,434,289 shares, according to the latest SEC report filing. PLUG stock had 69 new institutional investments in for a total of 7,878,061 shares, while 29 institutional investors sold positions of 3,981,690 shares during the same period.

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