In yesterday’s Wall Street session, Plug Power Inc. (NASDAQ:PLUG) shares traded at $8.04, up 6.49% from the previous session.
29 analysts cover Plug Power Inc. (NASDAQ:PLUG), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $78.00 and a low of $7.50, we find $15.00. Given the previous closing price of $7.55, this indicates a potential upside of 98.68 percent. PLUG stock price is now -19.74% away from the 50-day moving average and -51.75% away from the 200-day moving average. The market capitalization of the company currently stands at $4.94B.
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The stock has received a hold rating from 10 analysts and a buy rating from 16. Brokers who have rated the stock have averaged $18.89 as their price target over the next twelve months.
On April 03, 2023, Morgan Stanley Downgraded its previous ‘Overweight’ rating to ‘Equal-Weight’ on the stock reducing its target price from $35 to quote $15, while ‘UBS’ rates the stock as ‘Buy’.
Insiders disposed of 595,877 shares of company stock worth roughly $4.79 million over the past 1 year. A total of 0.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PLUG stock. A new stake in Plug Power Inc. shares was purchased by POINT72 ASSET MANAGEMENT, L.P. during the first quarter worth $18,308,000. SUSQUEHANNA INTERNATIONAL GROUP, LLP invested $10,470,000 in shares of PLUG during the first quarter. In the first quarter, BALYASNY ASSET MANAGEMENT L.P. acquired a new stake in Plug Power Inc. valued at approximately $6,524,000. DECADE RENEWABLE PARTNERS LP acquired a new stake in PLUG for approximately $3,618,000. SIMPLEX TRADING, LLC purchased a new stake in PLUG valued at around $2,402,000 in the second quarter. In total, there are 866 active investors with 59.70% ownership of the company’s stock.
During the past 12 months, Plug Power Inc. has had a low of $7.39 and a high of $31.56. As of last week, the company has a debt-to-equity ratio of 0.15, a current ratio of 4.40, and a quick ratio of 3.20. The fifty day moving average price for PLUG is $9.91 and a two-hundred day moving average price translates $16.60 for the stock.
The latest earnings results from Plug Power Inc. (NASDAQ: PLUG) was released for Mar, 2023. According to the Electrical Equipment & Parts Company, earnings per share came in at -$0.35, missing analysts’ expectations of -$0.26 by -0.09. This compares to -$0.27 EPS in the same period last year. The company reported revenue of $210.29 million for the quarter, compared to $140.8 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 49.35 percent. For the current quarter, analysts expect PLUG to generate $249.85M in revenue.
Plug Power Inc.(PLUG) Company Profile
Plug Power Inc. delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including liquid green hydrogen production, storage and handling, transportation, and dispensing infrastructure. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors. It also provides GenKey, an integrated turn-key solution for transitioning to fuel cell power; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; Liquefaction systems; and Electrolyzers that are hydrogen generators optimized for clean hydrogen production. The company sells its products through a direct product sales force, original equipment manufacturers, and dealer networks. Plug Power Inc. was founded in 1997 and is headquartered in Latham, New York.
