Plug Power Inc. [NASDAQ: PLUG] loss -1.67% on the last trading session, reaching $12.34 price per share at the time. The company report on December 15, 2022 that NIKOLA AND PLUG ANNOUNCE STRATEGIC COLLABORATION TO PUSH HYDROGEN ECONOMY FORWARD.
Plug to purchase up to 75 Nikola Tre hydrogen fuel-cell electric vehicles for green hydrogen delivery.
Nikola to purchase 30 metric-tons per day liquefaction system from Plug for the Ariz. hydrogen hub project.
Plug Power Inc. represents 578.04 million in outstanding shares, while the company has a total market value of $7.32 billion with the latest information. PLUG stock price has been found in the range of $12.225 to $12.645.
If compared to the average trading volume of 17.26M shares, PLUG reached a trading volume of 8953066 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 $29.53 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.
UBS have made an estimate for Plug Power Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 14, 2022. While these analysts kept the previous recommendation, Canaccord Genuity dropped their target price from $21 to $16. The new note on the price target was released on October 21, 2022, representing the official price target for Plug Power Inc. stock. Previously, the target price had yet another raise to $28, while Jefferies analysts kept a Buy rating on PLUG stock.
The Average True Range (ATR) for Plug Power Inc. is set at 0.92, with the Price to Sales ratio for PLUG stock in the period of the last 12 months amounting to 11.38. The Price to Book ratio for the last quarter was 1.69, with the Price to Cash per share for the same quarter was set at 4.33.
Trading performance analysis for PLUG stock
Plug Power Inc. [PLUG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.98. With this latest performance, PLUG shares dropped by -20.28% in over the last four-week period, additionally sinking by -31.82% over the last 6 months – not to mention a drop of -58.03% 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 34.21, with the RSI for the last a single of trading hit 31.52, and the three-weeks RSI is set at 35.86 for Plug Power Inc. [PLUG]. The present Moving Average for the last 50 days of trading for this stock 15.38, while it was recorded at 12.72 for the last single week of trading, and 20.55 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 5.20 and a Current Ratio set at 6.10.
An analysis of insider ownership at Plug Power Inc. [PLUG]
There are presently around $3,855 million, or 59.70% of PLUG stock, in the hands of institutional investors. The top three institutional holders of PLUG stocks are: BLACKROCK INC. with ownership of 55,584,268, which is approximately -2.787% of the company’s market cap and around 0.80% of the total institutional ownership; VANGUARD GROUP INC, holding 51,003,648 shares of the stock with an approximate value of $629.38 million in PLUG stocks shares; and VOYA INVESTMENT MANAGEMENT LLC, currently with $222.33 million in PLUG stock with ownership of nearly 12389.419% of the company’s market capitalization.
Positions in Plug Power Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 263 institutional holders increased their position in Plug Power Inc. [NASDAQ:PLUG] by around 53,301,979 shares. Additionally, 225 investors decreased positions by around 42,831,267 shares, while 141 investors held positions by with 216,241,126 shares. The mentioned changes placed institutional holdings at 312,374,372 shares, according to the latest SEC report filing. PLUG stock had 78 new institutional investments in for a total of 8,556,255 shares, while 59 institutional investors sold positions of 3,402,299 shares during the same period.