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

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Plug Power Inc. [NASDAQ: PLUG] gained 11.72% on the last trading session, reaching $19.06 price per share at the time. The company report on May 17, 2022 that Plug Lands 1 GW Electrolyzer Order with H2 Energy Europe.


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Plug Secures World’s Largest Electrolyzer Order to Date .

Plug Power Inc. represents 577.87 million in outstanding shares, while the company has a total market value of $9.86 billion with the latest information. PLUG stock price has been found in the range of $17.10 to $19.06.

If compared to the average trading volume of 22.47M shares, PLUG reached a trading volume of 28817784 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 $36.64 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 2.00. 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.

Truist have made an estimate for Plug Power Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 02, 2022. While these analysts kept the previous recommendation, Susquehanna raised their target price from $26 to $30. The new note on the price target was released on March 02, 2022, representing the official price target for Plug Power Inc. stock. Previously, the target price had yet another drop from $39 to $33, while RBC Capital Mkts kept a Outperform rating on PLUG stock. On March 02, 2022, analysts decreased their price target for PLUG shares from 42 to 38.

The Average True Range (ATR) for Plug Power Inc. is set at 1.78, with the Price to Sales ratio for PLUG stock in the period of the last 12 months amounting to 17.27. The Price to Book ratio for the last quarter was 2.46, with the Price to Cash per share for the same quarter was set at 6.37.

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 15.87. With this latest performance, PLUG shares dropped by -12.33% in over the last four-week period, additionally sinking by -52.65% over the last 6 months – not to mention a drop of -37.92% 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 51.43, with the RSI for the last a single of trading hit 59.14, and the three-weeks RSI is set at 48.10 for Plug Power Inc. [PLUG]. The present Moving Average for the last 50 days of trading for this stock 22.70, while it was recorded at 16.74 for the last single week of trading, and 27.13 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Plug Power Inc. [PLUG] shares currently have an operating margin of -79.41 and a Gross Margin at -30.72. Plug Power Inc.’s Net Margin is presently recorded at -91.56.

Return on Equity for this stock declined to -15.15, with Return on Assets sitting at -11.22.

Plug Power Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.50 and a Current Ratio set at 11.40.

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

There are presently around $5,714 million, or 55.00% of PLUG stock, in the hands of institutional investors. The top three institutional holders of PLUG stocks are: BLACKROCK INC. with ownership of 50,496,523, which is approximately 5.13% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 49,583,891 shares of the stock with an approximate value of $945.07 million in PLUG stocks shares; and ALLIANZ ASSET MANAGEMENT GMBH, currently with $425.75 million in PLUG stock with ownership of nearly -1.31% of the company’s market capitalization.

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 293 institutional holders increased their position in Plug Power Inc. [NASDAQ:PLUG] by around 27,471,215 shares. Additionally, 255 investors decreased positions by around 26,296,823 shares, while 122 investors held positions by with 246,003,305 shares. The mentioned changes placed institutional holdings at 299,771,343 shares, according to the latest SEC report filing. PLUG stock had 74 new institutional investments in for a total of 7,265,200 shares, while 67 institutional investors sold positions of 3,286,467 shares during the same period.

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