Wells Fargo slashes price target on Plug Power Inc. [PLUG] – find out why.

Plug Power Inc. [NASDAQ: PLUG] jumped around 0.24 points on Friday, while shares priced at $28.51 at the close of the session, up 0.85%. The company report on May 2, 2021 that 5-Day Deadline Alert: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Plug Power Inc. and Encourages Investors with Losses in Excess of $500,000 to Contact the Firm.

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The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Plug Power Inc. (“Plug Power” or “the Company”) (NASDAQ:PLUG) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

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Investors who purchased the Company’s securities between November 9, 2020 and March 1, 2021, inclusive (the ”Class Period”), are encouraged to contact the firm before May 7, 2021.

Plug Power Inc. stock is now -15.92% down from its year-to-date (YTD) trading value. PLUG Stock saw the intraday high of $29.20 and lowest of $27.60 per share. The company’s 52-week high price is 75.49, which means current price is +19.24% above from all time high which was touched on 01/26/21.

Compared to the average trading volume of 33.36M shares, PLUG reached a trading volume of 27026436 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Plug Power Inc. [PLUG]?

Wells Fargo have made an estimate for Plug Power Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on April 20, 2021. While these analysts kept the previous recommendation, Evercore ISI raised their target price to Outperform. The new note on the price target was released on April 20, 2021, representing the official price target for Plug Power Inc. stock. Previously, the target price had yet another raise to $35, while Morgan Stanley analysts kept a Equal-Weight rating on PLUG stock.

The Average True Range (ATR) for Plug Power Inc. is set at 2.39 The Price to Book ratio for the last quarter was 17.17, with the Price to Cash per share for the same quarter was set at 0.90.

How has PLUG stock performed recently?

Plug Power Inc. [PLUG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.89. With this latest performance, PLUG shares dropped by -20.45% in over the last four-week period, additionally plugging by 92.64% over the last 6 months – not to mention a rise of 581.24% 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 41.98, with the RSI for the last a single of trading hit 45.65, and the three-weeks RSI is set at 41.41 for Plug Power Inc. [PLUG]. The present Moving Average for the last 50 days of trading for this stock 36.67, while it was recorded at 28.70 for the last single week of trading, and 29.12 for the last 200 days.

Plug Power Inc. [PLUG]: Deeper insight into the fundamentals

Return on Total Capital for PLUG is now -38.03, given the latest momentum, and Return on Invested Capital for the company is -41.27. Return on Equity for this stock declined to -68.42, with Return on Assets sitting at -35.25. When it comes to the capital structure of this company, Plug Power Inc. [PLUG] has a Total Debt to Total Equity ratio set at 47.48. Additionally, PLUG Total Debt to Total Capital is recorded at 32.20, with Total Debt to Total Assets ending up at 29.60. Long-Term Debt to Equity for the company is recorded at 41.09, with the Long-Term Debt to Total Capital now at 27.86.

Receivables Turnover for the company is -2.46 with a Total Asset Turnover recorded at a value of -0.06.Plug Power Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.90.

Earnings analysis for Plug Power Inc. [PLUG]

With the latest financial reports released by the company, Plug Power Inc. posted -0.12/share EPS, while the average EPS was predicted by analysts to be reported at -0.1/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -20.00%. 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%.

Insider trade positions for Plug Power Inc. [PLUG]

There are presently around $7,371 million, or 56.00% of PLUG stock, in the hands of institutional investors. The top three institutional holders of PLUG stocks are: BLACKROCK INC. with ownership of 47,161,335, which is approximately 14.596% of the company’s market cap and around 0.60% of the total institutional ownership; VANGUARD GROUP INC, holding 40,465,986 shares of the stock with an approximate value of $1.15 billion in PLUG stocks shares; and D. E. SHAW & CO., INC., currently with $439.0 million in PLUG stock with ownership of nearly -16.056% of the company’s market capitalization.

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Positions in Plug Power Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 310 institutional holders increased their position in Plug Power Inc. [NASDAQ:PLUG] by around 79,742,217 shares. Additionally, 172 investors decreased positions by around 35,425,926 shares, while 39 investors held positions by with 143,356,466 shares. The mentioned changes placed institutional holdings at 258,524,609 shares, according to the latest SEC report filing. PLUG stock had 169 new institutional investments in for a total of 18,775,714 shares, while 59 institutional investors sold positions of 5,960,709 shares during the same period.

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