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

Plug Power Inc [NASDAQ: PLUG] loss -2.35% or -0.08 points to close at $3.33 with a heavy trading volume of 19683770 shares. The company report on March 1, 2024 at 7:00 AM that Plug Highlights Year of Strategic Growth and Advancements in Accelerating the Green Hydrogen Economy.

The daily chart for PLUG points out that the company has recorded -55.18% loss over the past six months.

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If we look at the average trading volume of 44.86M shares, PLUG reached to a volume of 19683770 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 $5.44 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 2.61. 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.

Redburn Atlantic have made an estimate for Plug Power Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 06, 2024. The new note on the price target was released on February 06, 2024, representing the official price target for Plug Power Inc stock. On January 31, 2024, analysts increased their price target for PLUG shares from 4.50 to 9.

The Average True Range (ATR) for Plug Power Inc is set at 0.32, with the Price to Sales ratio for PLUG stock in the period of the last 12 months amounting to 2.56. The Price to Book ratio for the last quarter was 0.70, with the Price to Cash per share for the same quarter was set at 0.51.

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 2.46. With this latest performance, PLUG shares gained by 10.63% in over the last four-week period, additionally sinking by -55.18% over the last 6 months – not to mention a drop of -71.02% 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 43.82, with the RSI for the last a single of trading hit 42.04, and the three-weeks RSI is set at 44.76 for Plug Power Inc [PLUG]. The present Moving Average for the last 50 days of trading for this stock 3.65, while it was recorded at 3.42 for the last single week of trading, and 6.61 for the last 200 days.

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

Plug Power Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.86 and a Current Ratio set at 1.85.

Plug Power Inc [PLUG]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Plug Power Inc posted -0.35/share EPS, while the average EPS was predicted by analysts to be reported at -0.26/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -34.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PLUG.

An analysis of Institutional ownership at Plug Power Inc [PLUG]

The top three institutional holders of PLUG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PLUG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PLUG stock with ownership which is approximately 5.8325%.