On Jan. 04, Schneider Lucas P divested U.S. $112,712 in shares of Plug Power Inc.. The Dir sold 3,500 shares at a price per share of $32.20. The transaction decreased this specific insider’s holdings to 127,395 shares worth around $4.46 million at present.
Another 108,333 shares were sold by Conway Gerard L Jr, for more than $3,512,309 in total proceeds. The GC, Corp Sec, SVP dumped the shares at a price of $32.42 and the insider now owns almost 185,519 shares.
B. Riley Securities maintained its Plug Power Inc. [PLUG] rating to the equivalent of a Buy but changed the price target to $24 from $18, in a research note dated November 10, 2020. That figure represents around a -45.83% premium from where the company’s shares closed on Wednesday. Other analysts also revised their coverage, with B. Riley Securities’s analysts reiterating the shares to “a Buy” rating in a research note to investors issued in early November. Meanwhile, Morgan Stanley had raised its rating on PLUG to “an Overweight” from the earlier “an Equal-weight”, in a research note produced for clients September 28, 2020. In addition, there was a new coverage from Odeon on August 18, 2020. The research firm rated PLUG “a Buy”.
Is Plug Power Inc. [NASDAQ:PLUG] a Good Buy Right Now?
It should be noted that PLUG technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Plug Power Inc.’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 34.01 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 35.43 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 31.23 million shares.
PLUG Price Performance
On Wall Street, Plug Power Inc. [NASDAQ:PLUG] finished Wednesday’s session up 7.53% at $35.00. The stock went up to $36.86 at the same session while its lowest single day price was $33.72. In the last five days, it saw a rise of about 7.83%, Plug Power Inc. shares gained by almost 3.21% since the beginning of the year. However, the share price has dropped to as low as -6.68% below its one year high. On 01/06/21, the company shares recorded $36.86, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/05/21, the same year at $30.40. The company’s shares have inclined by 818.64% in the past year. The 50-day SMA achieved is $25.43 while the 200-day SMA is $12.86. Volume gained to 45.99 million from 18.54 million in the previous session.
Plug Power Inc. [PLUG] Valuation Measures
Notably, Plug Power Inc. [PLUG] stock can be helpful for investors to consider historical price-sales ratio, more specifically, a 49.73 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 1.34.
PLUG Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 33.53 level, and in case of violation of this particular level, it will cause more drop to 32.05 level. On the upper level, 38.33 is still the key resistance. The stock may increase to the subsequent resistance at 36.67. The Relative Strength Index (RSI) pinned on the 14-day chart is 65.12, implying a neutral technical stance while the MACD stands at 0.08, meaning price will decrease in the next trading period. Percent R indicator moved to 24.79%, implying bullish price movement. Stochastic %K at 61.16% suggest holding the stock.
What is the short interest in Plug Power Inc.?
Short interest in the Plug Power Inc. stock has surged, increasing by 9.17 million shares to total 63.38 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 72.55 million, data from Yahoo Finance shows. The decrease of -14.47% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 15.37% of the overall float for the stock.
Plug Power Inc.’s Biggest Shareholders: Who Owns Plug Power Inc. [PLUG]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 28,307,828 shares or roughly 7.05% of the outstanding PLUG shares. This means their shares have increased by 3,713,745 from the 28,307,828 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $689,789,368. Details in the latest 13F filings reveal that D. E. Shaw & Co. LP acquired their 6.35% stake valued at $514,822,480 while BlackRock Advisors added theirs at $266,037,933. During the last quarter, D. E. Shaw & Co. LP raised 1,165,137 of its shares in Plug Power Inc. while BlackRock Advisors bought 3,693,789 shares. The SSgA Funds Management, Inc.’s holdings currently number 7,857,720 shares at $275020200.0. According to the firm’s last 13F report, Hood River Capital Management LLC shares in the company at filing stood at 6,125,961 shares, roughly $161,664,111.
PLUG Earnings Forecast For The Current Quarter
Plug Power Inc. [PLUG] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $85.76M and an earnings per share of -$0.07 for Dec 2020. Looking further ahead, the company is expected to report revenue of $61.87M at an EPS of -$0.08 for Mar 2021. The estimates represent downside of 35.60% and 22.60% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
PLUG Earnings Estimates For The Current Year
For the financial year, Plug Power Inc. [NASDAQ:PLUG] is expected to bring in revenue of $323.79M. The returns are nearly $86.99 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -0.31, higher than that of FY19 by $0.05. Estimates put this year’s earnings growth at 13.90%, 22.60% for the next, and at an annual 25.00% over the next 5-year period. As for sales, forecasts are for an increase of 36.70% in the current fiscal year and a further 35.60% over the following year.
What are analyst thoughts on Plug Power Inc.?
Looking forward to the Plug Power Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Plug Power Inc. stock at $28.00 within the next 12 months, which represents almost -25.0 per cent growth from its previous closing price of $35.00. The highest analysts’ target for Plug Power Inc. stock projections is $50.00 and the lowest one is $21.00. Still, 10 analysts sharing their consensus rating for PLUG stock in 2021 agree that it is a Buy.