Holdings of Plug Power Inc. (PLUG) are aligned with the stars

Plug Power Inc. (NASDAQ: PLUG) stock jumped 9.69% on Monday to $17.44 against a previous-day closing price of $15.90. With 24.54 million shares changed hands, the volume of the stock remained heavier than its average volume of 17.01 million shares. During the session, the Electrical Equipment & Parts company that operates in wider Industrials sector, reached to the highest price of $17.64 whereas the lowest price it dropped to was $15.96. The 52-week range on PLUG shows that it touched its highest point at $32.05 and its lowest point at $11.49 during that stretch. It currently has a 1-year price target of $28.70. Beta for the stock currently stands at 1.73.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PLUG was up-trending over the past week, with a rise of 5.76%, but this was up by 37.11% over a month. Three-month performance surged to 6.80% while six-month performance fell -1.13%. The stock lost -19.26% in the past year, while it has gained 40.99% so far this year. A look at the trailing 12-month EPS for PLUG yields -1.20 with Next year EPS estimates of -0.62. For the next quarter, that number is -0.22. This implies an EPS growth rate of 51.00% for this year and 39.80% for next year.

Float and Shares Shorts:

At present, 578.04 million PLUG shares are outstanding with a float of 523.56 million shares on hand for trading. On Oct 13, 2022, short shares totaled 62.4 million, which was 10.77% higher than short shares on Sep 14, 2022. In addition to Mr. Andrew J. Marsh as the firm’s Pres, CEO & Director, Mr. Paul B. Middleton CPA serves as its Exec. VP & CFO.


Institutional Ownership:

Through their ownership of 55.12% of PLUG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 35.07% of PLUG, in contrast to 20.67% held by mutual funds. Shares owned by individuals account for 1.25%. As the largest shareholder in PLUG with 8.56% of the stake, The Vanguard Group, Inc. holds 49,900,745 shares worth 49,900,745. A second-largest stockholder of PLUG, BlackRock Fund Advisors, holds 32,753,405 shares, controlling over 5.62% of the firm’s shares. Voya Investment Management Co. LL is the third largest shareholder in PLUG, holding 18,016,986 shares or 3.09% stake. With a 3.05% stake in PLUG, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 17,771,382 shares are owned by the mutual fund manager. The BNP Paribas Funds – Energy Transi, which owns about 2.72% of PLUG stock, is the second-largest Mutual Fund holder. It holds 15,853,464 shares valued at 196.11 million. Vanguard Mid Cap Index Fund holds 2.33% of the stake in PLUG, owning 13,554,251 shares worth 167.67 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PLUG since 31 analysts follow the stock currently. There are 19 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 10 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PLUG analysts setting a high price target of $78.00 and a low target of $13.00, the average target price over the next 12 months is $28.23. Based on these targets, PLUG could surge 347.25% to reach the target high and fall by -25.46% to reach the target low. Reaching the average price target will result in a growth of 61.87% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PLUG will report FY 2022 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of -$0.93 being high and -$1.19 being low. For PLUG, this leads to a yearly average estimate of -$1.07. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Plug Power Inc. surprised analysts by -$0.06 when it reported -$0.30 EPS against a consensus estimate of -$0.24. The surprise factor in the prior quarter was -$0.09. Based on analyst estimates, the high estimate for the next quarter is -$0.15 and the low estimate is -$0.32. The average estimate for the next quarter is thus -$0.23.

Summary of Insider Activity:

Insiders traded PLUG stock several times over the past three months with 8 Buys and 0 Sells. In these transactions, 7,604 shares were bought while 0 shares were sold. The number of buy transactions has increased to 45 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 311,198 while 597,171 shares were sold.

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