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Plug Power Inc. (NASDAQ:PLUG) 46.95% Above Its 52-Week Low, How Long Will It Keep Rising?

In last trading session, Plug Power Inc. (NASDAQ:PLUG) saw 17.3 million shares changing hands with its beta currently measuring 1.65. Company’s recent per share price level of $23.94 trading at -$1.58 or -6.19% at ring of the bell on the day assigns it a market valuation of $14.37B. That closing price of PLUG’s stock is at a discount of -94.24% from its 52-week high price of $46.50 and is indicating a premium of 46.95% from its 52-week low price of $12.70. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 16.68 million shares which gives us an average trading volume of 21.59 million if we extend that period to 3-months.

For Plug Power Inc. (PLUG), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.10. Splitting up the data highlights that, out of 27 analysts covering the stock, 0 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 9 suggested the stock as a Hold whereas 17 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.22 in the current quarter.

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Plug Power Inc. (NASDAQ:PLUG) trade information

Upright in the red during last session for losing -6.19%, in the last five days PLUG remained trading in the red while hitting it’s week-highest on Friday, 09/16/22 when the stock touched $23.94 price level, adding 17.05% to its value on the day. Plug Power Inc.’s shares saw a change of -15.20% in year-to-date performance and have moved -18.29% in past 5-day. Plug Power Inc. (NASDAQ:PLUG) showed a performance of -8.35% in past 30-days. Number of shares sold short was 64.61 million shares which calculate 2.56 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $37.92 to the stock, which implies a rise of 36.87% to its current value. Analysts have been projecting $25.00 as a low price target for the stock while placing it at a high target of $78.00. It follows that stock’s current price would drop -225.81% in reaching the projected high whereas dropping to the targeted low would mean a loss of -4.43% for stock’s current value.

Plug Power Inc. (PLUG) estimates and forecasts

Statistics highlight that Plug Power Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -13.39% of value to its shares in past 6 months, showing an annual growth rate of -20.00% while that of industry is 12.40. Apart from that, the company came lowering its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -15.80% in the current quarter and calculating 42.40% increase in the next quarter. This year revenue growth is estimated to rise 81.80% from the last financial year’s standing.

18 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $275.89 million for the same. And 18 analysts are in estimates of company making revenue of $346.31 million in the next quarter that will end on Dec 2022.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -20.90% during past 5 years.

PLUG Dividends

Plug Power Inc. is more likely to be releasing its next quarterly report between November 07 and November 11 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 10.40% of company’s total shares while institution are holding 55.81 percent of that, with stock having share float percentage of 62.29%. Investors also watch the number of corporate investors in a company very closely, which is 55.81% institutions for Plug Power Inc. that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at PLUG for having 57.18 million shares of worth $1.37 billion. And as of Jun 29, 2022, it was holding 9.88% of the company’s outstanding shares.

The second largest institutional holder is Vanguard Group, Inc. (The), which was holding about 50.29 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 8.69% of outstanding shares, having a total worth of $1.2 billion.

On the other hand, Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 17.04 million shares of worth $407.98 million or 2.94% of the total outstanding shares. The later fund manager was in possession of 13.31 million shares on Jun 29, 2022, making its stake of worth around $318.56 million in the company or a holder of 2.30% of company’s stock.

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