Plug Power Inc. [NASDAQ: PLUG] gained 6.49% or 1.8 points to close at $29.54 with a heavy trading volume of 27053399 shares. The company report on August 9, 2022 that Plug Power Announces 2022 Second Quarter Results.
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Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, has announced today its 2022 second quarter results. The quarterly shareholder letter has been posted at https://www.ir.plugpower.com/Q222Plug.
A conference call will be held today, August 9, 2022.
It opened the trading session at $28.22, the shares rose to $29.965 and dropped to $27.57, the range by which the price of stock traded the whole day. The daily chart for PLUG points out that the company has recorded 32.64% gains over the past six months. However, it is still -132.6% lower than its most recent low trading price.
If we look at the average trading volume of 22.96M shares, PLUG reached to a volume of 27053399 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 $35.84 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.
Northland Capital have made an estimate for Plug Power Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on August 02, 2022. While these analysts kept the previous recommendation, KeyBanc Capital Markets raised their target price to Overweight. The new note on the price target was released on June 30, 2022, representing the official price target for Plug Power Inc. stock. Previously, the target price had yet another raise to $18, while Piper Sandler analysts kept a Neutral rating on PLUG stock.
The Average True Range (ATR) for Plug Power Inc. is set at 1.86, with the Price to Sales ratio for PLUG stock in the period of the last 12 months amounting to 26.85. The Price to Book ratio for the last quarter was 3.93, with the Price to Cash per share for the same quarter was set at 5.47.
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 17.27. With this latest performance, PLUG shares gained by 66.42% in over the last four-week period, additionally plugging by 32.64% over the last 6 months – not to mention a rise of 11.85% 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 74.47, with the RSI for the last a single of trading hit 78.04, and the three-weeks RSI is set at 70.38 for Plug Power Inc. [PLUG]. The present Moving Average for the last 50 days of trading for this stock 19.02, while it was recorded at 27.27 for the last single week of trading, and 24.98 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 8.10 and a Current Ratio set at 9.10.
An analysis of insider ownership at Plug Power Inc. [PLUG]
There are presently around $9,046 million, or 55.90% of PLUG stock, in the hands of institutional investors. The top three institutional holders of PLUG stocks are: BLACKROCK INC. with ownership of 57,177,908, which is approximately 13.231% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 50,291,016 shares of the stock with an approximate value of $1.49 billion in PLUG stocks shares; and ALLIANZ ASSET MANAGEMENT GMBH, currently with $633.28 million in PLUG stock with ownership of nearly -4.025% 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 262 institutional holders increased their position in Plug Power Inc. [NASDAQ:PLUG] by around 38,124,120 shares. Additionally, 269 investors decreased positions by around 32,404,673 shares, while 129 investors held positions by with 235,687,342 shares. The mentioned changes placed institutional holdings at 306,216,135 shares, according to the latest SEC report filing. PLUG stock had 65 new institutional investments in for a total of 7,293,114 shares, while 93 institutional investors sold positions of 4,101,391 shares during the same period.