Plug Power Inc. [NASDAQ: PLUG] stock went on a downward path that fall over -2.12% on Friday, amounting to a one-week price decrease of less than -3.98%. The company report on December 15, 2021 that Edison Motors and Plug Power Inc. Sign Agreement for Mass-Production of Hydrogen-Powered City Buses.
Agreement is to develop prototypes of Edison Motors’ fuel cell electric city bus, equipped with Plug Power’s 125kW ProGen fuel cell system in 2022.
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Edison Motors expects to mass-produce the fuel cell electric buses, tentatively named “SMART 110F”, and to be distributed in South Korea.
Over the last 12 months, PLUG stock dropped by -16.75%. The one-year Plug Power Inc. stock forecast points to a potential upside of 43.79. The average equity rating for PLUG stock is currently 2.10, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $15.98 billion, with 574.52 million shares outstanding and 517.83 million shares in the current float. Compared to the average trading volume of 23.41M shares, PLUG stock reached a trading volume of 10630021 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $50.22 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 2.10. 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.
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 November 10, 2021. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price from $40 to $48. The new note on the price target was released on November 10, 2021, representing the official price target for Plug Power Inc. stock. Previously, the target price had yet another raise from $41 to $44, while Cowen kept a Outperform rating on PLUG stock. On November 10, 2021, analysts increased their price target for PLUG shares from 31 to 38.
The Average True Range (ATR) for Plug Power Inc. is set at 2.30, with the Price to Sales ratio for PLUG stock in the period of the last 12 months amounting to 37.08. The Price to Book ratio for the last quarter was 3.45, with the Price to Cash per share for the same quarter was set at 7.29.
PLUG Stock Performance Analysis:
Plug Power Inc. [PLUG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.98. With this latest performance, PLUG shares dropped by -23.10% in over the last four-week period, additionally sinking by -13.08% over the last 6 months – not to mention a drop of -16.75% 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 36.61, with the RSI for the last a single of trading hit 34.96, and the three-weeks RSI is set at 39.46 for Plug Power Inc. [PLUG]. The present Moving Average for the last 50 days of trading for this stock 36.18, while it was recorded at 28.59 for the last single week of trading, and 30.36 for the last 200 days.
Insight into Plug Power Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Plug Power Inc. [PLUG] shares currently have an operating margin of -57.73 and a Gross Margin at -22.75. Plug Power Inc.’s Net Margin is presently recorded at -194.53.
Return on Total Capital for PLUG is now -13.10, 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 6.64 with a Total Asset Turnover recorded at a value of 0.20.Plug Power Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 16.90 and a Current Ratio set at 17.70.
Plug Power Inc. [PLUG] Insider Position Details
There are presently around $8,091 million, or 52.80% of PLUG stock, in the hands of institutional investors. The top three institutional holders of PLUG stocks are: VANGUARD GROUP INC with ownership of 49,409,667, which is approximately 0.627% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 45,548,919 shares of the stock with an approximate value of $1.29 billion in PLUG stocks shares; and ALLIANZ ASSET MANAGEMENT GMBH, currently with $494.15 million in PLUG stock with ownership of nearly 25.331% of the company’s market capitalization.
Positions in Plug Power Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 268 institutional holders increased their position in Plug Power Inc. [NASDAQ:PLUG] by around 38,234,357 shares. Additionally, 232 investors decreased positions by around 28,019,567 shares, while 116 investors held positions by with 220,360,699 shares. The mentioned changes placed institutional holdings at 286,614,623 shares, according to the latest SEC report filing. PLUG stock had 66 new institutional investments in for a total of 15,203,880 shares, while 87 institutional investors sold positions of 4,761,700 shares during the same period.