In today’s recent session, 17,852,307 shares of the Plug Power Inc.(NASDAQ:PLUG) have been traded, and its beta is 1.48. Most recently the company’s share price was $52.12, and it changed around -$3.77 or -0.07% from the last close, which brings the market valuation of the company to $27.83 Billion. PLUG at last check was trading at a discount to its 52-week high of $75.49, offering almost -44.84% off that amount. The share price’s 52-week low was $2.53, which indicates that the recent value has risen by an impressive 95.15% since then. We note from Plug Power Inc.’s average daily trading volume that its 10-day average is 26.97 Million shares, with the 3-month average coming to 40.97 Million.
Plug Power Inc. stock received a consensus recommendation rating of Overweight, based on a mean score of 2.1. If we narrow it down even further, the data shows that none out of 15 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 4 recommended PLUG as a Hold, whereas 10 deemed it a Buy, and no one rated it as Underweight. Plug Power Inc. is expected to report earnings per share of -$0.1 for the current quarter.
Plug Power Inc. (NASDAQ:PLUG): Trading Information Today
Although PLUG has been showing red trend so far today with a performance of -6.75% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $65.01 on Tuesday, Feb 16 increased the stock’s daily price by 20.07%. The company’s shares are currently up 0.53% year-to-date, but still down -0.1777 over the last five days. On the other hand, Plug Power Inc. (NASDAQ:PLUG) is -0.22% down in the 30-day period. We can see from the shorts that 41.33 Million shares have been sold at a short interest cover period of 1.01 day(s).
The consensus price target as assigned by Wall Street analysts is $67.35, which translates to bears needing to increase their stock price by 29.22% from its current value. Analyst projections state that PLUG is forecast to be at a low of $21 and a high of $88. In order for the stock price to hit the forecast high, the stock would need to surge +68.84% from its current level, while the stock would need to crash -59.71% from its current level to reach the projected low.
Plug Power Inc. (PLUG) projections and forecasts
Plug Power Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +309.45 percent over the past six months and at a 0% annual growth rate that is well below the industry average of 14.3%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -42.9% in revenue this quarter, and will report an increase of 41.7% in the next quarter. The year-over-year growth rate is expected to be 38.4%, up from the previous year.
Consensus estimates provided by 8 financial analysts predict the company will bring in an average of $87.32 Million in revenue for the current quarter. 6 analysts expect Plug Power Inc. to make $71.21 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarter a year ago was $94.5 Million. Analysts predict that the company’s current quarter sales will drop, forecast at -7.6%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 8.3%. Plug Power Inc. earnings are expected to decrease by -1% in 2021, but the outlook is positive 25% per year for the next five years.
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Plug Power Inc. (NASDAQ:PLUG)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 1.01% of Plug Power Inc. shares, and 52.57% of them are in the hands of institutional investors. The stock currently has a share float of 53.1%. Plug Power Inc. stock is held by 458 institutions, with Blackrock Inc. being the largest institutional investor. By Dec 30, 2020, it held 10.05% of the shares, which is about 47.16 Million shares worth $1.6 Billion.
Vanguard Group, Inc. (The), with 5.79% or 27.18 Million shares worth $364.51 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.