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Plug Power Inc. (NASDAQ: PLUG): How To Buy And When To Buy And Its Performance & Trends

In the last trading session, 11.09 million Plug Power Inc. (NASDAQ:PLUG) shares changed hands as the company’s beta touched 1.89. With the company’s per share price at $8.15 changed hands at -$0.37 or -4.34% during last session, the market valuation stood at $5.03B. PLUG’s last price was a discount, traded about -254.11% off its 52-week high of $28.86. The share price had its 52-week low at $7.39, which suggests the last value was 9.33% up since then. When we look at Plug Power Inc.’s average trading volume, we note the 10-day average is 14.36 million shares, with the 3-month average coming to 21.70 million.

Analysts gave the Plug Power Inc. (PLUG) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.10. If we narrow down to specifics, the data shows that 0 out of 30 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 12 recommended PLUG as a Hold, 17 felt it is a Buy and 0 rated the stock as Underweight. Plug Power Inc.’s EPS for the current quarter is expected to be -$0.29.

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Plug Power Inc. (NASDAQ:PLUG) trade information

Instantly PLUG was in red as seen at the end of in last trading. With action 2.00%, the performance over the past five days has been green. The drop to weekly highs of 8.80 on Monday, 09/18/23 subtracted -4.34% to the stock’s daily price. The company’s shares are showing year-to-date downside of -34.11%, with the 5-day performance at 2.00% in the green. However, in the 30-day time frame, Plug Power Inc. (NASDAQ:PLUG) is -5.12% down. Looking at the short shares, we see there were 120.69 million shares sold at short interest cover period of 5.8 days.

The consensus price target for the stock as assigned by Wall Street analysts is $17.56, meaning bulls need an upside of 53.59% from its current market value. According to analyst projections, PLUG’s forecast low is $7.50 with $78.00 as the target high. To hit the forecast high, the stock’s price needs a -857.06% plunge from its current level, while the stock would need to tank 7.98% for it to hit the projected low.

Plug Power Inc. (PLUG) estimates and forecasts

Data shows that the Plug Power Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -27.04% over the past 6 months, a -0.80% in annual growth rate that is considerably lower than the industry average of 10.80%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Plug Power Inc. will rise 3.30%, while the growth in revenue is estimated to hit 47.40% for the next quarter. Year-over-year growth is forecast to reach 85.30% up from the last financial year.

Consensus estimates given by 19 financial analysts project the company’s revenue in the current quarter to hit an average of $343.98 million. 19 analysts are of the opinion that Plug Power Inc.’s revenue for the quarter ending Dec 2023 will be $482.62 million. The company’s revenue for the corresponding quarters a year ago was $247.98 million and $220.74 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 38.70%. The estimates for the next quarter sales put growth at 118.60%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -15.70%. The 2023 estimates are for Plug Power Inc. earnings to decrease by -51.60%.

PLUG Dividends

Plug Power Inc. is expected to release its next quarterly earnings report in October.

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

If we look at who the major shareholders are, we find that insiders hold 10.02% of Plug Power Inc. shares while 56.38% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 62.65%. There are 56.38% institutions holding the Plug Power Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 9.03% of the shares, roughly 54.36 million PLUG shares worth $564.83 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 8.12% or 48.88 million shares worth $507.86 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and iShares Global Clean Energy ETF. With 18.91 million shares estimated at $196.46 million under it, the former controlled 3.14% of total outstanding shares. On the other hand, iShares Global Clean Energy ETF held about 1.75% of the shares, roughly 10.51 million shares worth around $137.92 million.

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