Investor Insight: Plug Power Inc (PLUG) Goes Ballistic – Investor Confidence on the Rise

Plug Power Inc (NASDAQ:PLUG) shares traded -5.44% lower at $6.26 on Wall Street last session.

In accordance with the data, 31 analysts cover Plug Power Inc (NASDAQ:PLUG). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $37.00 and a low of $6.50, we find $12.50. Given the previous closing price of $6.62, this indicates a potential upside of 88.82 percent. PLUG stock price is now -14.88% away from the 50-day moving average and -38.99% away from the 200-day moving average. The market capitalization of the company currently stands at $3.77B.

It has been rated a hold by 11 analysts and a buy by 19. Brokers who have rated the stock have averaged $14.62 as their price target over the next twelve months.

With the price target of $11, HSBC Securities recently initiated with Buy rating for Plug Power Inc (NASDAQ: PLUG).

In other news, Crespo Jose Luis, GM, MATL Handling, Key Accts sold 31,958 shares of the company’s stock on Oct 02. The stock was sold for $230,098 at an average price of $7.20. Upon completion of the transaction, the GM, MATL Handling, Key Accts now directly owns 250,609 shares in the company, valued at $1.57 million. Insiders disposed of 338,240 shares of company stock worth roughly $2.12 million over the past 1 year. A total of 10.95% of the company’s stock is owned by insiders.

Plug Power Inc (NASDAQ: PLUG) opened at $6.70 on Monday. During the past 12 months, Plug Power Inc has had a low of $5.58 and a high of $18.88. As of last week, the company has a debt-to-equity ratio of 0.26, a current ratio of 3.16, and a quick ratio of 2.07. The fifty day moving average price for PLUG is $7.35 and a two-hundred day moving average price translates $10.26 for the stock.

The latest earnings results from Plug Power Inc (NASDAQ: PLUG) was released for Jun, 2023. According to the Electrical Equipment & Parts Company, earnings per share came in at -$0.4, missing analysts’ expectations of -$0.26 by -0.14. This compares to -$0.30 EPS in the same period last year. The net profit margin was -95.15% and return on equity was -20.73% for PLUG. The company reported revenue of $260.18 million for the quarter, compared to $151.27 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 72.0 percent. For the current quarter, analysts expect PLUG to generate $237.92M 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.

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