Plug Power Inc (NASDAQ:PLUG) shares, rose in value, with the stock price up by 2.87% to the previous day’s close as strong demand from buyers drove the stock to $3.23.
Actively observing the price movement in the last trading, the stock closed the session at $3.14. The value of beta (5-year monthly) was 1.56. Referring to stock’s 52-week performance, its high was $13.44, and the low was $2.26. On the whole, PLUG has fluctuated by -16.32% over the past month.
With the market capitalization of Plug Power Inc currently standing at about $2.21 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.33, which is expected to increase to -$0.21 for fiscal year -$1.01 and then to about -$0.55 by fiscal year 2025. Data indicates that the EPS growth is expected to be 56.10% in 2025, while the next year’s EPS growth is forecast to be 45.50%.
Analysts have estimated the company’s revenue for the quarter at $179.2 million, with a low estimate of $129.59 million and a high estimate of $265.89 million. According to the average forecast, sales growth in current quarter could jump down -14.80%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $1.01 billion, representing an increase of 13.10% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that PLUG’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of PLUG currently trading nearly -7.48% and -12.74% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 43.20, while the 7-day volatility ratio is showing 7.00% which for the 30-day chart, stands at 7.84%. Furthermore, Plug Power Inc (PLUG)’s beta value is 1.56, and its average true range (ATR) is 0.29.
A comparison of Plug Power Inc (PLUG) with its peers suggests the former has fared considerably weaker in the market. PLUG showed an intraday change of 2.87% in last session, and over the past year, it shrunk by -72.44%%.
Data on historical trading for Plug Power Inc (NASDAQ:PLUG) indicates that the trading volumes over the past 10 days have averaged 26.05 million and over the past 3 months, they’ve averaged 44.56 million. According to company’s latest data on outstanding shares, there are 684.25 million shares outstanding.
Nearly 9.93% of Plug Power Inc’s shares belong to company insiders and institutional investors own 45.32% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 172.19 million shares as on Mar 15, 2024, resulting in a short ratio of 4.28. According to the data, the short interest in Plug Power Inc (PLUG) stood at 25.17% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 170.84 million. The stock has fallen by -28.22% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PLUG stock heading into the next quarter.
