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Plug Power Inc (NASDAQ: PLUG) – Analyst View Looks Different Today

In the last trading session, 40.83 million Plug Power Inc (NASDAQ:PLUG) shares changed hands as the company’s beta touched 1.62. With the company’s per share price at $4.33 changed hands at $0.14 or 3.34% during last session, the market valuation stood at $2.62B. PLUG’s last price was a discount, traded about -287.99% off its 52-week high of $16.80. The share price had its 52-week low at $2.26, which suggests the last value was 47.81% up since then. When we look at Plug Power Inc’s average trading volume, we note the 10-day average is 58.27 million shares, with the 3-month average coming to 0.84.

Plug Power Inc (NASDAQ:PLUG) trade information

Instantly PLUG was in green as seen at the end of in last trading. With action -7.08%, the performance over the past five days has been red. The jump to weekly highs of 4.59 added 3.34% to the stock’s daily price. The company’s shares are showing year-to-date downside of -3.78%, with the 5-day performance at -7.08% in the red. However, in the 30-day time frame, Plug Power Inc (NASDAQ:PLUG) is 7.18% up. Looking at the short shares, we see there were 183.89 million shares sold at short interest cover period of 3.3 days.

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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 -52.15% over the past 6 months, a -38.40% in annual growth rate that is considerably lower than the industry average of 13.50%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Plug Power Inc will fall -13.20%, while the growth in revenue is estimated to hit 17.10% for the next quarter. Year-over-year growth is forecast to reach 28.80% up from the last financial year.

Consensus estimates given by 23 financial analysts project the company’s revenue in the current quarter to hit an average of $240.53 million. 17 analysts are of the opinion that Plug Power Inc’s revenue for the quarter ending Mar 2024 will be $241.32 million. The company’s revenue for the corresponding quarters a year ago was $220.74 million and $210.29 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 9.00%. The estimates for the next quarter sales put growth at 14.80%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -15.73%. The 2024 estimates are for Plug Power Inc earnings to decrease by -25.96%.

PLUG Dividends

Plug Power Inc is expected to release its next quarterly earnings report between February 28 and March 04.

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

If we look at who the major shareholders are, we find that insiders hold 9.94% of Plug Power Inc shares while 55.25% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 61.35%. There are 55.25% 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 1.69% of the shares, roughly 10.2 million shares worth around $86.28 million.

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