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Plug Power Inc. (NASDAQ: PLUG) Fell -830.79%, Predicting What To Expect In The Near Future

During the last session, Plug Power Inc. (NASDAQ:PLUG)’s traded shares were 16.6 million, with the beta value of the company hitting 1.77. At the end of the trading day, the stock’s price was $8.38, reflecting an intraday loss of -0.95% or -$0.08. The 52-week high for the PLUG share is $31.56, that puts it down -276.61 from that peak though still a striking 11.81% gain since the share price plummeted to a 52-week low of $7.39. The company’s market capitalization is $5.12B, and the average intraday trading volume over the past 10 days was 23.01 million shares, and the average trade volume was 21.07 million shares over the past three months.

Plug Power Inc. (PLUG) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.20. PLUG has a Sell rating from 0 analyst(s) out of 29 analysts who have looked at this stock. 10 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 16 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.25.

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Plug Power Inc. (NASDAQ:PLUG) trade information

Plug Power Inc. (PLUG) registered a -0.95% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -0.95% in intraday trading to $8.38 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is 6.48%, and it has moved by -1.06% in 30 days. Based on these gigs, the overall price performance for the year is -44.80%. The short interest in Plug Power Inc. (NASDAQ:PLUG) is 105.98 million shares and it means that shorts have 4.77 day(s) to cover.

The consensus price target of analysts on Wall Street is $18.63, which implies an increase of 55.02% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $7.50 and $78.00 respectively. As a result, PLUG is trading at a discount of -830.79% off the target high and 10.5% off the low.

Plug Power Inc. (PLUG) estimates and forecasts

Statistics show that Plug Power Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Plug Power Inc. (PLUG) shares have gone down -44.80% during the last six months, with a year-to-date growth rate more than the industry average at 28.80% against 11.20. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 16.70% this quarter and then jump 40.00% in the quarter after that. In the rating firms’ projections, revenue will increase 84.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $253.96 million as predicted by 19 analyst(s). Meanwhile, a consensus of 19 analyst(s) estimates revenue growth to $375.13 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $151.27 million and $247.98 million respectively. In this case, analysts expect current quarter sales to grow by 67.90% and then jump by 51.30% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -15.70%. While earnings are projected to return -51.60% in 2023.

PLUG Dividends

Plug Power Inc. is due to release its next quarterly earnings between May 08 and May 12. 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 10.04% of total outstanding shares while institutional holders control 57.31%, with the float percentage being 63.71%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 866 institutions own stock in it. As of Mar 30, 2023, the company held over 52.59 million shares (or 8.76% of all shares), a total value of $616.32 million in shares.

The next largest institutional holding, with 52.38 million shares, is of Blackrock Inc.’s that is approximately 8.72% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $613.92 million.

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 Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 17.77 million shares. This amounts to just over 2.99 percent of the company’s overall shares, with a $219.84 million market value. The same data shows that the other fund manager holds slightly less at 13.55 million, or about 2.28% of the stock, which is worth about $167.67 million.

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