A secret that hides Plug Power Inc’s strength (NASDAQ:PLUG)

Stocks of Plug Power Inc (NASDAQ:PLUG) traded higher last session on Wall Street, down -3.25% to $3.87.

According to the data, Plug Power Inc (NASDAQ:PLUG) has 32 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $25.00 and a low of $3.50, we find $7.50. Given the previous closing price of $4.00, this indicates a potential upside of 87.5 percent. PLUG stock price is now -41.68% away from the 50-day moving average and -59.98% away from the 200-day moving average. The market capitalization of the company currently stands at $2.34B.

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A total of 18 analysts have issued a hold rating and 12 have given it a buy rating. Brokers who have rated the stock have averaged $9.27 as their price target over the next twelve months.

With the price target reduced from $12.50 to $5, Citigroup Downgraded its rating from Buy to Neutral 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 $0.97 million. Insiders disposed of 334,560 shares of company stock worth roughly $1.29 million over the past 1 year. A total of 10.97% of the company’s stock is owned by insiders.

Monday’s opening bell rang with an opening price of $3.9800 for Plug Power Inc (NASDAQ: PLUG). During the past 12 months, Plug Power Inc has had a low of $3.22 and a high of $18.88. As of last week, the company has a debt-to-equity ratio of 0.28, a current ratio of 2.41, and a quick ratio of 1.31. The fifty day moving average price for PLUG is $6.6364 and a two-hundred day moving average price translates $9.6712 for the stock.

The latest earnings results from Plug Power Inc (NASDAQ: PLUG) was released for Sep, 2023. According to the Electrical Equipment & Parts Company, earnings per share came in at -$0.47, missing analysts’ expectations of -$0.3 by -0.17. This compares to -$0.30 EPS in the same period last year. The net profit margin was -106.74% and return on equity was -24.57% for PLUG. The company reported revenue of $198.71 million for the quarter, compared to $188.63 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.35 percent. For the current quarter, analysts expect PLUG to generate $411.96M 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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