Market Analysts see Plug Power Inc. [PLUG] gaining to $30. Time to buy?

Plug Power Inc. [NASDAQ: PLUG] loss -2.47% or -0.69 points to close at $27.20 with a heavy trading volume of 26569096 shares. The company report on May 20, 2021 that Plug Power Hires Benjamin Haycraft as VP Strategy & Business Development Europe.

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The appointment of Benjamin Haycraft to this strategic position confirms Plug Power’s ambition to accelerate its development in Europe.

Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, announces Benjamin Haycraft as the Company’s newest Vice President of Strategy and Business Development, Europe. This appointment confirms Plug Power’s desire to accelerate its development opportunities in Europe.

It opened the trading session at $27.95, the shares rose to $27.97 and dropped to $26.705, the range by which the price of stock traded the whole day. The daily chart for PLUG points out that the company has recorded 14.33% gains over the past six months. However, it is still -574.94% lower than its most recent low trading price.

If we look at the average trading volume of 38.50M shares, PLUG reached to a volume of 26569096 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 $47.31 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 2.30. 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.

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 2.24 The Price to Book ratio for the last quarter was 7.91, with the Price to Cash per share for the same quarter was set at 2.34.

Trading performance analysis for PLUG stock

Plug Power Inc. [PLUG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.06. With this latest performance, PLUG shares dropped by -2.79% in over the last four-week period, additionally plugging by 14.33% over the last 6 months – not to mention a rise of 561.80% 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 50.41, with the RSI for the last a single of trading hit 56.42, and the three-weeks RSI is set at 46.84 for Plug Power Inc. [PLUG]. The present Moving Average for the last 50 days of trading for this stock 29.86, while it was recorded at 27.41 for the last single week of trading, and 30.40 for the last 200 days.

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

Return on Total Capital for PLUG is now -42.68, given the latest momentum, and Return on Invested Capital for the company is -46.71. Return on Equity for this stock declined to -74.39, with Return on Assets sitting at -39.45. When it comes to the capital structure of this company, Plug Power Inc. [PLUG] has a Total Debt to Total Equity ratio set at 38.31. Additionally, PLUG Total Debt to Total Capital is recorded at 27.70, with Total Debt to Total Assets ending up at 24.96. Long-Term Debt to Equity for the company is recorded at 33.31, with the Long-Term Debt to Total Capital now at 24.08.

Reflecting on the efficiency of the workforce at the company, Plug Power Inc. [PLUG] managed to generate an average of -$463,934 per employee. Receivables Turnover for the company is -1.87 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 6.60 and a Current Ratio set at 7.20.

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

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.

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

There are presently around $7,822 million, or 52.40% of PLUG stock, in the hands of institutional investors. The top three institutional holders of PLUG stocks are: BLACKROCK INC. with ownership of 59,768,929, which is approximately 26.733% of the company’s market cap and around 0.50% of the total institutional ownership; VANGUARD GROUP INC, holding 45,808,517 shares of the stock with an approximate value of $1.25 billion in PLUG stocks shares; and FMR LLC, currently with $577.49 million in PLUG stock with ownership of nearly 164.759% 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 340 institutional holders increased their position in Plug Power Inc. [NASDAQ:PLUG] by around 83,283,510 shares. Additionally, 244 investors decreased positions by around 49,369,655 shares, while 32 investors held positions by with 154,926,653 shares. The mentioned changes placed institutional holdings at 287,579,818 shares, according to the latest SEC report filing. PLUG stock had 170 new institutional investments in for a total of 18,505,704 shares, while 88 institutional investors sold positions of 13,608,155 shares during the same period.

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