Plug Power Inc. [NASDAQ: PLUG] loss -0.85% or -0.15 points to close at $17.49 with a heavy trading volume of 9780695 shares. The company report on July 12, 2022 that Plug Secures 5 MW Electrolyzer Sale to Leading Canadian Energy Company Irving Oil.
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Plug selected to support Irving Oil’s decarbonization targets – a Canadian first.
Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, has been awarded a contract to deliver a 5 megawatt (MW) containerized proton exchange membrane (PEM) electrolyzer system to international energy company Irving Oil for the production and distribution of hydrogen at its Saint John, New Brunswick refinery, the largest in Canada.
It opened the trading session at $17.62, the shares rose to $17.748 and dropped to $17.03, the range by which the price of stock traded the whole day. The daily chart for PLUG points out that the company has recorded -16.95% loss over the past six months. However, it is still -37.72% lower than its most recent low trading price.
If we look at the average trading volume of 21.64M shares, PLUG reached to a volume of 9780695 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 $34.14 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.
KeyBanc Capital Markets have made an estimate for Plug Power Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 30, 2022. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Neutral. The new note on the price target was released on June 08, 2022, representing the official price target for Plug Power Inc. stock. Previously, the target price had yet another raise to $40, while KeyBanc Capital Markets analysts kept a Overweight rating on PLUG stock.
The Average True Range (ATR) for Plug Power Inc. is set at 1.33, with the Price to Sales ratio for PLUG stock in the period of the last 12 months amounting to 18.38. The Price to Book ratio for the last quarter was 2.26, with the Price to Cash per share for the same quarter was set at 5.49.
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 6.52. With this latest performance, PLUG shares dropped by -2.13% in over the last four-week period, additionally sinking by -16.95% over the last 6 months – not to mention a drop of -34.76% 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 49.70, with the RSI for the last a single of trading hit 49.45, and the three-weeks RSI is set at 49.04 for Plug Power Inc. [PLUG]. The present Moving Average for the last 50 days of trading for this stock 16.99, while it was recorded at 17.77 for the last single week of trading, and 25.54 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 $5,237 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 $867.22 million in PLUG stocks shares; and ALLIANZ ASSET MANAGEMENT GMBH, currently with $390.68 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 August and at the time of the August reporting period, where 260 institutional holders increased their position in Plug Power Inc. [NASDAQ:PLUG] by around 27,358,525 shares. Additionally, 275 investors decreased positions by around 27,418,123 shares, while 129 investors held positions by with 244,638,547 shares. The mentioned changes placed institutional holdings at 299,415,195 shares, according to the latest SEC report filing. PLUG stock had 70 new institutional investments in for a total of 7,023,808 shares, while 79 institutional investors sold positions of 4,147,028 shares during the same period.