In the last trading session, 18.83 million Plug Power Inc (NASDAQ:PLUG) shares changed hands as the company’s beta touched 1.55. With the company’s per share price at $3.41 changed hands at -$0.18 or -5.01% during last session, the market valuation stood at $2.33B. PLUG’s last price was a discount, traded about -294.13% off its 52-week high of $13.44. The share price had its 52-week low at $2.26, which suggests the last value was 33.72% up since then. When we look at Plug Power Inc’s average trading volume, we note the 10-day average is 29.58 million shares, with the 3-month average coming to 45.12 million.
Plug Power Inc (NASDAQ:PLUG) trade information
Instantly PLUG was in red as seen at the end of in last trading. With action 2.40%, the performance over the past five days has been green. The drop to weekly highs of 3.71 subtracted -5.01% to the stock’s daily price. The company’s shares are showing year-to-date downside of -24.22%, with the 5-day performance at 2.40% in the green. However, in the 30-day time frame, Plug Power Inc (NASDAQ:PLUG) is 8.95% up. Looking at the short shares, we see there were 159.83 million shares sold at short interest cover period of 3.28 days.
Plug Power Inc (PLUG) estimates and forecasts
Data shows that the Plug Power Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -55.13% over the past 6 months, a 57.83% in annual growth rate that is considerably higher than the industry average of 21.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Plug Power Inc will rise 5.70%, while the growth in revenue is estimated to hit 32.50% for the next quarter. Year-over-year growth is forecast to reach 13.10% up from the last financial year.
Consensus estimates given by 20 financial analysts project the company’s revenue in the current quarter to hit an average of $179.2 million. 19 analysts are of the opinion that Plug Power Inc’s revenue for the quarter ending Jun 2024 will be $207.49 million. The company’s revenue for the corresponding quarters a year ago was $210.29 million and $242.24 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -14.80%. The estimates for the next quarter sales put growth at -14.30%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -45.13%. The 2024 estimates are for Plug Power Inc earnings to increase by 56.07%.
PLUG Dividends
Plug Power Inc is expected to release its next quarterly earnings report between May 07 and May 13.
Plug Power Inc (NASDAQ:PLUG)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 8.79% of Plug Power Inc shares while 46.68% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 51.18%. There are 46.68% institutions holding the Plug Power Inc stock share, with Vanguard Group Inc the top institutional holder. As of Dec 30, 2023, the company held 7.89% of the shares, roughly 53.99 million PLUG shares worth $184.1 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.50% or 51.3 million shares worth $174.94 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Dec 30, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 18.86 million shares estimated at $64.32 million under it, the former controlled 2.76% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.25% of the shares, roughly 15.42 million shares worth around $52.57 million.
