Plug Power Inc. [NASDAQ: PLUG] loss -1.90% on the last trading session, reaching $26.81 price per share at the time. The company report on July 22, 2021 that Plug Power Hires Former Tesla Alum David Mindnich to Influence Plug Power’s Global Gigafactory Footprint.
Mindnich, a 15-year manufacturing and operations veteran, joins the company as executive vice president of global manufacturing.
Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, has announced that David Mindnich, a 15-year leader in manufacturing who spearheaded operations for Tesla’s Gigafactory, will join the company as executive vice president of global manufacturing.
Plug Power Inc. represents 513.46 million in outstanding shares, while the company has a total market value of $15.53 billion with the latest information. PLUG stock price has been found in the range of $26.40 to $27.79.
If compared to the average trading volume of 31.59M shares, PLUG reached a trading volume of 13526002 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 $45.18 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.
Citigroup have made an estimate for Plug Power Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 23, 2021. While these analysts kept the previous recommendation, Seaport Global Securities raised their target price to Buy. The new note on the price target was released on July 15, 2021, representing the official price target for Plug Power Inc. stock. Previously, the target price had yet another raise to $42, while RBC Capital Mkts analysts kept a Outperform rating on PLUG stock. On June 23, 2021, analysts decreased their price target for PLUG shares from 69 to 31.
The Average True Range (ATR) for Plug Power Inc. is set at 1.74 The Price to Book ratio for the last quarter was 2.80, with the Price to Cash per share for the same quarter was set at 8.21.
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 3.08. With this latest performance, PLUG shares dropped by -20.73% in over the last four-week period, additionally sinking by -59.91% over the last 6 months – not to mention a rise of 214.30% 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 39.63, with the RSI for the last a single of trading hit 36.93, and the three-weeks RSI is set at 42.20 for Plug Power Inc. [PLUG]. The present Moving Average for the last 50 days of trading for this stock 29.67, while it was recorded at 27.01 for the last single week of trading, and 34.10 for the last 200 days.
Plug Power Inc. [PLUG]: A deeper dive into fundamental analysis
Plug Power Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 25.60 and a Current Ratio set at 26.60.
An analysis of insider ownership at Plug Power Inc. [PLUG]
There are presently around $7,740 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 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 45,808,517 shares of the stock with an approximate value of $1.23 billion in PLUG stocks shares; and FMR LLC, currently with $569.21 million in PLUG stock with ownership of nearly 164.759% 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 345 institutional holders increased their position in Plug Power Inc. [NASDAQ:PLUG] by around 83,982,050 shares. Additionally, 235 investors decreased positions by around 47,271,235 shares, while 48 investors held positions by with 157,446,354 shares. The mentioned changes placed institutional holdings at 288,699,639 shares, according to the latest SEC report filing. PLUG stock had 165 new institutional investments in for a total of 18,767,173 shares, while 88 institutional investors sold positions of 11,745,240 shares during the same period.