Keep An Eye On Plug Power Inc.’s Insider Activity (PLUG)

The stock of Plug Power Inc. (NASDAQ:PLUG) decreased by decreased by -$0.97 on Friday to finish at $32.70, down -2.88 percent. The last five days have seen an average of 23,948,801 shares of common stock traded. 7 times new highs were reached in the current year, with a fall of -$1.21. The average number of shares traded over the last 20 days was 26,055,500, while the average volume over the last 50 days totaled 20,190,648.

PLUG stock appreciated 17.75% since last month. On 10/06/21, the company’s shares reached a one-month low of $23.81. The stock touched a high of $75.49 on 01/26/21, after rallying from a low of $13.69 in 52 weeks. The price of PLUG stock has declined by -3.57% or -$1.21 this year, reaching a new high 7 times. Still, the stock price is down -56.68% from the 52-week high.


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Insider Transactions

There have been 104 days since Plug Power Inc. (PLUG) last reported insider trading activity on Jul 13. On Jul 13, Chief Strategy Officer Shrestha Sanjay K sold 5,700 shares at $28.43 each. This transaction resulted in the insider making $162,065. On Jan 19, Marsh Andrew sold 573,268 shares at a price of US$65.82. After the transaction, the insider now owns 748,680 shares. Director MCNAMEE GEORGE C had earlier sold 10,000 shares on Jan 13 for $70.45 a share. The transaction was completed for $704,500.

For the three months ended June 29, Plug Power Inc.’s quick ratio was 18.90, while its current ratio was 19.80, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.10, and the total debt to equity ratio is 0.12. Based on annual data, it had gross profit of -$469.42 million and revenue of -$93.24 million.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. PLUG’s return on assets (ROA) during the last 12 months has been -18.50%. In the meantime, the return on equity (ROE) for the last 12 months was -24.00%. ROE has averaged 7.02 in the past year for the broader industry.

Earnings Surprise

According to Plug Power Inc.’s quarterly financial report for the quarter that ended June 29, it had $1.24 billion in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $124.56 million, while revenues rose by 45.35% to $71.96 million. It was predicted that Plug Power Inc.’s quarterly earnings would be -$0.18, but it ended up being -$0.07, beating the consensus by -157.10%. EBITDA was -$84.43 million for the quarter. At the end of Plug Power Inc.’s most recent quarter ended June 29, its liabilities totaled 957.96 million, while its total debt was $705.53 million. Equity owned by shareholders amounts to $574.36 million.

Technical Picture

Here’s a quick look at Plug Power Inc.’s (PLUG) price momentum from a technical perspective. As of 22 October, the RSI 9-day stood at 63.86%, suggesting the stock is Neutral, with a 80.94% historical volatility rate.

The stochastic %K and %D were 85.86% and 88.89% respectively, while the average true range (ATR) was 1.79. Based on the 14-day stochastic reading of 79.74%, the RSI (14) reading is 63.20%. On the 9-day MACD Oscillator, the stock is at 0.68, and the 14-day reading is at 2.98.

Analyst Ratings

In its most recent analyst report, Morgan Stanley raised its rating on Plug Power Inc. (NASDAQ: PLUG) to an Overweight. Prior to this, analysts firm rated the stock as an Equal-weight. Analysts have assigned Plug Power Inc. (PLUG) an Overweight rating. PLUG is a stock that is recommended for selling by 0 brokerage firms, while 7 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 17 others recommend it as a buy.

What is PLUG’s price target for the next 12 months?

The current consensus forecast for the stock is between $27.00 and $78.00, with a median target price of $42.00. In analyzing these forecasts, the average price target given by analysts for Plug Power Inc. (PLUG) is $42.91.

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