After Plunging -1.15% During Past Week, Is Plug Power Inc. (NASDAQ: PLUG) Still A Buy? – Marketing Sentinel
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After Plunging -1.15% During Past Week, Is Plug Power Inc. (NASDAQ: PLUG) Still A Buy?

Plug Power Inc. (NASDAQ:PLUG)’s traded shares stood at 4.92 million during the latest session, with the company’s beta value hitting 1.39. At the last check today, the stock’s price was $25.28, to imply an increase of 1.24% or $0.31 in intraday trading. The PLUG share’s 52-week high remains $75.49, putting it -198.62% down since that peak but still an impressive 56.8% since price per share fell to its 52-week low of $10.92. The company has a valuation of $14.99B, with average of 20.71 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for Plug Power Inc. (PLUG), translating to a mean rating of 2.20. Of 24 analyst(s) looking at the stock, 1 analyst(s) give PLUG a Sell rating. 1 of those analysts rate the stock as Overweight while 7 advise Hold as 15 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.09.

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Plug Power Inc. (NASDAQ:PLUG) trade information

After registering a 1.24% upside in the latest session, Plug Power Inc. (PLUG) has traded red over the past five days. The stock hit a weekly high of 25.66 this Thursday, 09/16/21, jumping 1.24% in its intraday price action. The 5-day price performance for the stock is -1.15%, and -3.48% over 30 days. With these gigs, the year-to-date price performance is -26.36%.

Analysts on Wall Street suggest a consensus price target of $40.39, implying an increase of 37.41% to the stock’s recent value. The extremes give us $13.00 and $78.00 for target low and target high price respectively. As such, PLUG has been trading -208.54% off suggested target high and 48.58% from its likely low.

Plug Power Inc. (PLUG) estimates and forecasts

Looking at statistics comparing Plug Power Inc. share performance against respective industry, we note that the company has underperformed competitors. Plug Power Inc. (PLUG) shares are -31.33% down over the last 6 months, with its year-to-date growth rate lower than industry average at -41.38% against 20.20%. Revenue is forecast to grow 18.20% this quarter before jumping 93.80% for the next one. The rating firms project that company’s revenue will grow 46.30% compared to the previous financial year.

Revenue forecast for the current quarter as set by 9 analysts is $140.94 million. Meanwhile, for the quarter ending Dec 2021, a total of 9 analyst(s) estimate revenue growth to $155.97 million.Earnings reports from the last fiscal year show that sales brought in $125.6 million and $96.3 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 12.20% before jumping 62.00% in the following quarter.

PLUG Dividends

Plug Power Inc. has its next earnings report out between November 08 and November 12. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Plug Power Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Plug Power Inc. (NASDAQ:PLUG)’s Major holders

Plug Power Inc. insiders hold 10.10% of total outstanding shares, with institutional holders owning 53.26% of the shares at 59.24% float percentage. In total, 53.26% institutions holds shares in the company, led by Blackrock Inc. As of Mar 30, 2021, the company held over 59.77 million shares (or 10.41% of shares), all amounting to roughly $2.14 billion.

The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 45.81 million shares, or about 7.98% of shares outstanding. As of the market price on Mar 30, 2021, these shares were worth $1.64 billion.

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We also have Vanguard Total Stock Market Index Fund and iShares Global Clean Energy ETF as the top two Mutual Funds with the largest holdings of the Plug Power Inc. (PLUG) shares. Going by data provided on Mar 30, 2021, Vanguard Total Stock Market Index Fund holds roughly 14.16 million shares. This is just over 2.47% of the total shares, with a market valuation of $507.55 million. Data from the same date shows that the other fund manager holds a little less at 8.69 million, or 1.51% of the shares, all valued at about 297.24 million.

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