Plug Power Inc (PLUG) Stock Could Soon Reward Patient Investors

Plug Power Inc (NASDAQ: PLUG) is -3.78% lower on its value in year-to-date trading and has touched a low of $2.26 and a high of $16.80 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The PLUG stock was last observed hovering at around $4.19 in the last trading session, with the day’s gains setting it 0.14%.

Currently trading at $4.33, the stock is 17.91% and 6.40% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 40.83 million and changing 3.34% at the moment leaves the stock -41.15% off its SMA200. PLUG registered -72.77% loss for a year compared to 6-month loss of -52.15%. The firm has a 50-day simple moving average (SMA 50) of $3.40 and a 200-day simple moving average (SMA200) of -$3.58.

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The stock witnessed a 7.18% gain in the last 1 month and extending the period to 3 months gives it a -28.07%, and is -7.08% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.54% over the week and 11.68% over the month.

Profit margin for the company is -106.74%. Distance from 52-week low is 91.38% and -74.23% from its 52-week high. The company has generated returns on investments over the last 12 months (-21.97%).

Plug Power Inc quarterly earnings per share for the current quarter are estimated at -$0.43 with sales reaching $240.53M over the same period.The EPS is expected to shrink by -25.96% this year, but quarterly earnings will post 28.80% year-over-year. Quarterly sales are estimated to grow 9.00% in year-over-year returns.

Plug Power Inc (PLUG) Top Institutional Holders

700 institutions hold shares in Plug Power Inc (PLUG), with institutional investors hold 61.35% of the company’s shares. The shares outstanding are 590.35M, and float is at 539.71M with Short Float at 34.07%. Institutions hold 55.25% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 54.36 million shares valued at $564.83 million. The investor’s holdings represent 9.03% of the PLUG Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 48.88 million shares valued at $507.86 million to account for 8.12% of the shares outstanding. The other top investors are BNP Paribas Asset Management Holding S.A. which holds 22.18 million shares representing 3.68% and valued at over $230.42 million, while Norges Bank Investment Management holds 2.84% of the shares totaling 17.07 million with a market value of $211.18 million.

Plug Power Inc (PLUG) Insider Activity

A total of 22 insider transactions have happened at Plug Power Inc (PLUG) in the last six months, with sales accounting for 9 and purchases happening 13 times. The most recent transaction is an insider sale by Crespo Jose Luis ,the company’sGM, MATL Handling, Key Accts. SEC filings show that Crespo Jose Luis sold 31,958 shares of the company’s common stock on Oct 02 at a price of $7.20 per share for a total of $0.23 million. Following the sale, the insider now owns 0.25 million shares.

Plug Power Inc (PLUG): Who are the competitors?

The company’s main competitors (and peers) include Air Products & Chemicals Inc. (APD) that is trading -23.32% down over the past 12 months. Procter & Gamble Co. (PG) that is 12.39% higher over the same period.