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Are we looking at the next big move in Plug Power Inc (PLUG)?

Plug Power Inc (NASDAQ: PLUG) is -50.22% lower on its value in year-to-date trading and has touched a low of $1.60 and a high of $6.95 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 $2.15 in the last trading session, with the day’s gains setting it 0.09%.

Currently trading at $2.24, the stock is 5.29% and 9.27% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 31.43 million and changing 4.19% at the moment leaves the stock -19.89% off its SMA200. PLUG registered -64.22% loss for a year compared to 6-month loss of -6.67%. The firm has a 50-day simple moving average (SMA 50) of $2.05 and a 200-day simple moving average (SMA200) of $2.7963.

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The stock witnessed a -1.75% gain in the last 1 month and extending the period to 3 months gives it a -6.67%, and is -5.49% 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 6.96% over the week and 6.65% over the month.

Plug Power Inc (PLUG) has around 3868 employees, a market worth around $1.97B and $684.49M in sales. Profit margin for the company is -216.80%. Distance from 52-week low is 40.00% and -67.79% from its 52-week high. The company has generated returns on investments over the last 12 months (-39.69%).

with sales reaching $212.13M over the same period.The EPS is expected to grow by 48.03% this year, but quarterly earnings will post -7.30% year-over-year.

Plug Power Inc (PLUG) Top Institutional Holders

614.0 institutions hold shares in Plug Power Inc (PLUG), with institutional investors hold 49.78% of the company’s shares. The shares outstanding are 879.64M, and float is at 819.07M with Short Float at 29.77%. Institutions hold 46.36% of the Float.

The top institutional shareholder in the company is VANGUARD GROUP INC with over 69.97 million shares valued at $163.02 million. The investor’s holdings represent 10.9108% of the PLUG Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 62.35 million shares valued at $145.28 million to account for 9.7236 of the shares outstanding. The other top investors are NORGES BANK which holds 28.7 million shares representing 4.4758% and valued at over $66.87 million, while MORGAN STANLEY holds 4.037 of the shares totaling 25.89 million with a market value of $60.32 million.

Plug Power Inc (PLUG) Insider Activity

The most recent transaction is an insider sale by MCNAMEE GEORGE C, the company’s Director. SEC filings show that MCNAMEE GEORGE C sold 10,000 shares of the company’s common stock on Aug 01 ’24 at a price of $2.37 per share for a total of $23719.0. Following the sale, the insider now owns 0.68 million shares.

Still, SEC filings show that on May 10 ’24, MCNAMEE GEORGE C (Director) disposed off 10,000 shares at an average price of $2.56 for $25576.0. The insider now directly holds 639,572 shares of Plug Power Inc (PLUG).

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