What Technical Indicators Show About Plug Power Inc. (PLUG)?


Plug Power Inc. (NASDAQ:PLUG) finished Thursday with a subtraction of -$1.58 to close at $23.94, a downside of -6.19 percent. An average of 15,830,780 shares of common stock have been traded in the last five days. There was a fall of -$5.36 in the past week, and it reached a new high 15 times over the past 12 months. The last 20 days have seen an average of 20,817,279 shares traded, while the 50-day average volume stands at 22,932,258.

PLUG stock has decreased by -8.35% in the last month. The company shares reached their 1-month lowest point of $23.72 on 09/22/22. With the stock rallying to its 52-week high on 04/04/22, shares of the company touched a low of $12.70 and a high of $46.50 in 52 weeks. It has reached a new high 4 times so far this year and lost -15.20% or -$4.29 in price. In spite of this, the price is down -48.52% from the 52-week high.

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Valuation Metrics

Plug Power Inc. (PLUG) stock’s beta is 1.65. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 24.03, the price-to-book (PB) ratio at 3.19.

Financial Health

The quick ratio of Plug Power Inc. for the three months ended June 29 was 8.10, and the current ratio was 9.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.12 and a total debt to equity ratio of 0.14 for the quarter ending June 29. Its gross profit as reported stood at -$171.31 million compared to revenue of $502.34 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Plug Power Inc.’s return on assets was -10.80%.

Earnings Surprise

For the three-month period that ended June 29, Plug Power Inc. had $715.91 million in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$173.3 million in the quarter, while revenues of -$156.49 million were grew 42.51%. The analyst consensus anticipated Plug Power Inc.’s latest quarter earnings to come in at -$0.21 per share, but it turned out to be -$0.3, a -42.90% surprise. For the quarter, EBITDA amounted to -$130.42 million. Shareholders own equity worth $578.7 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Plug Power Inc. (PLUG) price momentum. RSI 9-day as of the close on 22 September was 27.94%, suggesting the stock is oversold, with historical volatility in this time frame at 38.51%.

As of today, PLUG’s price is $26.28 -18.29% or -$5.36 from its 5-day moving average. PLUG is currently trading -13.01% lower than its 20-day SMA and +13.89% higher than its 100-day SMA. However, the stock’s current price level is +31.18% above the SMA50 and -29.69% below the SMA200.

The stochastic %K and %D were 11.06% and 26.30%, respectively, and the average true range (ATR) was 1.65. With the 14-day stochastic at 3.28% and the average true range at 1.70, the RSI (14) stands at 37.72%. The stock has reached -2.54 on the 9-day MACD Oscillator while the 14-day reading was at -2.52.

Analyst Ratings

Northland Capital launched coverage on Plug Power Inc. (NASDAQ: PLUG) in its analyst report released on August 02, 2022. The firm assigned the stock a Market perform rating. The consensus rating for Plug Power Inc. (PLUG) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell PLUG, while 9 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 17 others rate it as a “buy”.

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

Analysts predict a range of price targets between $25.00 and $78.00, with a median target of $35.00. Taking a look at these predictions, the average price target given by analysts for Plug Power Inc. (PLUG) stock is $37.92.


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