Wolfe Research slashes price target on Plug Power Inc. [PLUG] – find out why.

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Plug Power Inc. [NASDAQ: PLUG] closed the trading session at $24.21 on 09/13/21. The day’s price range saw the stock hit a low of $23.16, while the highest price level was $24.79. The company report on September 1, 2021 that Plug Power Hosts Sen. Schumer at Green Hydrogen Plant in New York.

Standing alongside Senate Majority Leader Chuck Schumer, CEO Andy Marsh said the company is proud to lead the green hydrogen economy.

Andy Marsh, CEO of Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, welcomed Senate Majority Leader Chuck Schumer on Wednesday to its green hydrogen production facility and electric substation under development in the New York Science, Technology and Advanced Manufacturing Park (STAMP), a 1,250-acre mega-site located at the center of upstate New York’s largest population, research, and workforce training hubs.

The stocks have a year to date performance of -28.61 percent and weekly performance of -8.30 percent. The stock has been moved at -47.89 percent over the last six months. The stock has performed -8.33 percent around the most recent 30 days and changed -20.80 percent over the most recent 3-months.

If compared to the average trading volume of 21.12M shares, PLUG reached to a volume of 19538425 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Plug Power Inc. [PLUG]:

Wolfe Research have made an estimate for Plug Power Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 01, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on July 23, 2021, representing the official price target for Plug Power Inc. stock. Previously, the target price had yet another raise to $36, while Seaport Global Securities analysts kept a Buy rating on PLUG stock.

The Average True Range (ATR) for Plug Power Inc. is set at 1.46 The Price to Book ratio for the last quarter was 2.84, with the Price to Cash per share for the same quarter was set at 7.33.

PLUG stock trade performance evaluation

Plug Power Inc. [PLUG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.30. With this latest performance, PLUG shares dropped by -8.33% in over the last four-week period, additionally sinking by -47.89% over the last 6 months – not to mention a rise of 106.75% 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 39.22, with the RSI for the last a single of trading hit 34.87, and the three-weeks RSI is set at 41.39 for Plug Power Inc. [PLUG]. The present Moving Average for the last 50 days of trading for this stock 26.83, while it was recorded at 25.14 for the last single week of trading, and 35.38 for the last 200 days.

Plug Power Inc. [PLUG]: An insightful look at the core fundamentals

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 18.90 and a Current Ratio set at 19.80.

Plug Power Inc. [PLUG]: Insider Ownership positions

There are presently around $6,862 million, or 50.50% of PLUG stock, in the hands of institutional investors. The top three institutional holders of PLUG stocks are: VANGUARD GROUP INC with ownership of 49,101,635, which is approximately 7.189% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 44,807,168 shares of the stock with an approximate value of $1.08 billion in PLUG stocks shares; and D. E. SHAW & CO., INC., currently with $359.03 million in PLUG stock with ownership of nearly 22.487% 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 August and at the time of the August reporting period, where 321 institutional holders increased their position in Plug Power Inc. [NASDAQ:PLUG] by around 62,977,600 shares. Additionally, 222 investors decreased positions by around 63,493,926 shares, while 94 investors held positions by with 156,969,326 shares. The mentioned changes placed institutional holdings at 283,440,852 shares, according to the latest SEC report filing. PLUG stock had 109 new institutional investments in for a total of 8,844,880 shares, while 81 institutional investors sold positions of 6,750,804 shares during the same period.

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