Plug Power Inc (NASDAQ: PLUG): Stock That Needs Special Handling

Currently, there are 590.35M common shares owned by the public and among those 539.71M shares have been available to trade.

Insiders at the company have transacted a total of 47 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 36 of these insider trades were purchases, accounting for 398,650 shares. Insider sales of the common stock occurred on 11 occasions, with total insider shares sold totaling 334,560 shares.

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The company’s stock has a 5-day price change of -7.08% and -28.07% over the past three months. PLUG shares are trading -3.78% year to date (YTD), with the 12-month market performance down to -72.77% lower. It has a 12-month low price of $2.26 and touched a high of $16.80 over the same period. PLUG has an average intraday trading volume of 0.84 shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 17.91%, 6.40%, and -41.15% respectively.

Institutional ownership of Plug Power Inc (NASDAQ: PLUG) shares accounts for 52.47% of the company’s 590.35M shares outstanding.

It has a market capitalization of $2.62B and a beta (3y monthly) value of 1.62. The earnings-per-share (ttm) stands at -$1.60. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.54% over the week and 11.68% over the month.

Analysts forecast that Plug Power Inc (PLUG) will achieve an EPS of -$0.43 for the current quarter, -$0.29 for the next quarter and -$0.92 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.86 while analysts give the company a high EPS estimate of -$0.27. Comparatively, EPS for the current quarter was -$0.38 a year ago. Earnings per share for the fiscal year are expected to decrease by -25.96%, and 42.19% over the next financial year.

Looking at the support for the PLUG, a number of firms have released research notes about the stock. Redburn Atlantic stated their Neutral rating for the stock in a research note on February 06, 2024, with the firm’s price target at $4.50.

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