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Plug Power Inc. (NASDAQ: PLUG): Another Stock Investors Should Watch

During the last session, Plug Power Inc. (NASDAQ:PLUG)’s traded shares were 19.36 million, with the beta value of the company hitting 1.79. At the end of the trading day, the stock’s price was $24.11, reflecting an intraday gain of 2.33% or $0.55. The 52-week high for the PLUG share is $46.50, that puts it down -92.87 from that peak though still a striking 47.32% gain since the share price plummeted to a 52-week low of $12.70. The company’s market capitalization is $11.22B, and the average intraday trading volume over the past 10 days was 24.74 million shares, and the average trade volume was 22.63 million shares over the past three months.

Plug Power Inc. (NASDAQ:PLUG) trade information

Plug Power Inc. (PLUG) registered a 2.33% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.33% in intraday trading to $24.11 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 11.47%, and it has moved by 37.14% in 30 days. Based on these gigs, the overall price performance for the year is -6.88%. The short interest in Plug Power Inc. (NASDAQ:PLUG) is 65.94 million shares and it means that shorts have 3.38 day(s) to cover.

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Plug Power Inc. (PLUG) estimates and forecasts

Statistics show that Plug Power Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Plug Power Inc. (PLUG) shares have gone up 10.39% during the last six months, with a year-to-date growth rate less than the industry average at 0.00% against 11.60. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -11.10% this quarter and then jump 10.50% in the quarter after that. In the rating firms’ projections, revenue will increase 81.00% compared to the previous financial year.

Revenue for the current quarter is expected to be $164.76 million as predicted by 18 analyst(s). Meanwhile, a consensus of 18 analyst(s) estimates revenue growth to $276.5 million by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -20.90%. While earnings are projected to return 51.00% in 2022.

PLUG Dividends

Plug Power Inc. is due to release its next quarterly earnings between February 23 and February 28. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Plug Power Inc. insiders own 10.39% of total outstanding shares while institutional holders control 55.13%, with the float percentage being 61.52%. Blackrock Inc. is the largest shareholder of the company, while 900 institutions own stock in it. As of Mar 30, 2022, the company held over 50.5 million shares (or 8.73% of all shares), a total value of $1.44 billion in shares.

The next largest institutional holding, with 49.58 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 8.58% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $1.42 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Plug Power Inc. (PLUG) shares are Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund. Data provided on Mar 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 16.66 million shares. This amounts to just over 2.88 percent of the company’s overall shares, with a $476.62 million market value. The same data shows that the other fund manager holds slightly less at 13.09 million, or about 2.26% of the stock, which is worth about $374.39 million.

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