Stock Forecast: 78.00 USD or More for Plug Power Inc. (NASDAQ: PLUG)!
Analysts expect sales of $158.87 million for the quarter, with a low estimate of $150.38 million and a high estimate of $173 million. Sales growth in the current quarter might increase by 65.00 percent compared to the same quarter last year, according to the average projection. Wall Street analysts also expected that the company’s y-o-y revenues in 2022 would reach $498.17 million, up 47.80% from the previous year’s figures.
There have been no upward or downward revisions for the firm in the previous seven days, which might be a good sign for gaining insight into short-term price volatility. We can see that PLUG’s technical picture reveals that short-term indications indicate that the stock is on average a 100 percent sell. Medium-term indications, on the other hand, have the stock categorised as a 50% Buy, while long-term indicators, on average, have it categorised as a 50% Sell.
On a scale of 1.00 to 5.00, 25 analysts have provided their predicted assessment ratings for the stock, indicating a strong buy to a strong sell recommendation. Six analyst(s) have given the stock a Hold rating, 18 have given it a Buy rating, and one has given the PLUG stock an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight, while 0 rate it as a Sell. Since a result, investors who want to raise their holdings of the company’s stock will be able to do so, as the stock’s average rating is Overweight.
The PEG ratio for PLUG is roughly 0, according to technical analysis, with the stock now trading nearly -13.68 percent and -27.02 percent away from the simple moving averages for 20 and 50 days, respectively. The Relative Strength Index (RSI, 14) is now at 32.70, while the 7-day volatility ratio is at 6.40 percent, and the 30-day volatility ratio is at 6.49 percent. Plug Power Inc. (PLUG) also has a beta of 1.44 and an average true range (ATR) of 2.18. Over the next 52 weeks, the company’s stock is expected to trade at an average price of $49.39, with a low of $38.00 and a high of $78.00. The low is -44.65% off current pricing, and the price must move -196.92 percent to reach the yearly goal high, according to these price projections. Furthermore, investors are likely to embrace analysts’ consensus price of $49.00, which indicates a -86.52 percent reduction from current levels.
When comparing Plug Power Inc. (PLUG) to its rivals, it appears that the former has performed significantly worse in the market. PLUG had a -6.68 percent intraday move in the previous session, and it had declined by -24.94 percent during the previous year. In comparison, Air Products and Chemicals Inc. (APD) is up 1.61 percent on the day and is up 4.92 percent over the last year. The Procter & Gamble Company (PG) has, on the other hand, gained 0.45 percent on the day. The stock, on the other hand, is down 17.16 percent from a year ago. In addition, Ballard Power Systems Inc. (BLDP) has lost -4.46 percent in recent trade, and the stock has lost -50.59 percent in the last year. Aside from that, the S&P 500 dropped -1.94 percent in the most recent trading session. In the meanwhile, the Dow Jones Industrial Average fell by 1.07 percent.
Trading volumes for Plug Power Inc. (NASDAQ:PLUG) have averaged 23.28 million during the last three months, according to historical data. There are 574.52 million shares outstanding, according to the company’s most recent statistics on outstanding shares.
stocksregister.com is the source of this information
Let’s start with Plug Power Inc.’s stock forecast (NASDAQ: PLUG)
According to data, the Plug Power Inc. stock is not performing as well as most of its counterparts in the same industry. According to the data, the company’s share value increased 1.67 percent in the last six months, representing a -100.00 percent annual growth rate that is much lower than the industry average of 25.50 percent. Furthermore, analysts have raised revenue predictions for fiscal year 2021, indicating that stronger expectations are expected. Revenue for Plug Power Inc. is expected to increase 18.20 percent in the current quarter, and 93.80 percent in the next quarter, according to the rating companies. Year-over-year growth is expected to be 46.30 percent more than the previous fiscal year.
According to 9 financial experts’ consensus predictions, the company’s sales in the current quarter will average $140.94 million. Plug Power Inc.’s sales for the quarter ending December 2021 is expected to be $155.97 million, according to 9 analysts. In the same periods a year ago, the business made $125.6 million and $96.3 million in sales, respectively. Experts expect the company’s current quarter revenues to increase by 12.20 percent, according to analysts. Sales growth is expected to be 62.00 percent in the coming quarter, according to forecasts.
marketingsentinel.com is the source of this information
Plug Power Stock Has a Bright Future, According to Analysts
Plug Power (PLUG) may have failed top- and bottom-line projections in its most recent quarterly report, but Evercore analyst James West is even more optimistic now than before.
“We find few other shares offering comparable leverage to the green H2 thematic,” the analyst said. “With +$3 billion in net cash on hand, a vertically-integrated product suite, and a rapidly rising revenue base, we find few other companies delivering similar leverage to the green H2 thematic.”
Revenue for the third quarter came in at $143.9 million, up 34% from the same quarter last year, but $0.92 million short of Wall Street expectations. The bottom line was likewise a failure, with EPS of -$0.19 falling $0.10 short of estimates.
PLUG recently announced another acquisition, bringing Frames Group, a turnkey hydrogen solutions supplier, into the fold. As a result of the additional acquisition, West increased its revenue forecast for 2022 to $935 million, slightly more than the high end of expectations.
“We believe the higher likelihood of production tax credits in the United States for green hydrogen producers within the Build Back Better bill could pull forward years of demand, with PLUG uniquely placed as an integrated renewable hydrogen provider,” the analyst said, raising the forecast for 2030 from $9 billion to $11 billion.
As a result, a new price target has been set, rising from $42 to $50, implying that shares have a 14 percent upside potential in the coming year. West’s rating remains an Outperform, which is unsurprising (i.e., Buy). (To see West’s track record, go here.)
.nasdaq.com is the source of this information
Plug Power Stock Predictions: Where Do Experts Think PLUG Will Go?
The stock of Plug Power (NASDAQ:PLUG) is on the move Monday, with shares rising in heavy activity as investors pounce on a bullish outlook.
- BTIG analyst Gregory Lewis recently upgraded the stock to a buy with a $40 price target. This translates to a 2.56 percent loss.
- Next up is Barclays analyst Moses Sutton, who rates PLUG stock as a hold with a $27 price target. That’s a 34.2 percent drop in value.
- The stock gets a buy rating and a $35 price target from Citigroup analyst PJ Juvekar. That’s a 14.7 percent drop in value.
- Paul Coster of J.P. Morgan Securities has a buy rating on PLUG stock but no price target.
- Colin Rusch, an analyst at Oppenheimer, has a buy rating on the company with a $62 price objective. This equates to a 51% increase in value.
investorplace.com is the source of this information
According to Oppenheimer, investors are underestimating the potential for growth.
Seasoned investors were probably expecting it. Last Thursday (Oct 14), in the run-up to Plug Power’s (PLUG) annual symposium, the stock was on a roll, bolstered by a double whammy of consecutive analysts outlining the bullish case for the hydrogen specialist and the release of new positive developments. While the company’s event emphasised the company’s potential in the emerging hydrogen economy, investors took advantage of the chance to sell shares in what seemed to be a classic example of “buy the rumour, sell the news.”
In fact, Colin Rusch of Oppenheimer says that such a move utterly misses the point following the symposium’s conclusion.
“The scale of the hydrogen fuel opportunity looks to be much above what investors are anticipating,” the 5-star analyst said, “with the possibility for 100x growth in the coming decade vs PLUG’s 2025 target of 500 MT/day.”
This is based on the company’s ecosystem approach to rapidly expand hydrogen production, which includes using its PEM electrolyzer technology and “engaging with partners across the hydrogen supply chain.” As a result, instead of one plant generating 70 tonnes per day this year, there will be 13 facilities producing 500 tonnes by 2025.
But that’s only one of the bright spots. The business also announced a 50-50 joint venture with Fortescue Future Industries to establish an electrolyzer facility in Australia, as well as the prototype for its fuel cell-powered vehicle, HyVia, from its relationship with the Renault Group. Hyvia deliveries are expected to commence in the first part of next year.
The company expects its material handling business to treble by 2025, from around 60,000 units now “deployed over” 200 locations. And while PLUG made no mention of its FY21 estimate, it boosted its FY22 sales guidance from $750 million to $825–850 million — considerably beyond consensus estimats of$760 million.
There are additional reasons why this “holistic plan for enabling the hydrogen economy” is bound for success, aside from the vast hydrogen fuel possibilities.
“First, PLUG is taking use of its core fuel cell and electrolyzer technology, as well as its fast scaling, to allow cost-effective applications in practically every aspect of the global power and transportation industries,” Rusch stated. “Second, we believe in a zero-emissions economy driven by renewables; hydrogen will play a critical role in power infrastructure, allowing heavy-duty transportation and high-horsepower cars, as well as perhaps other categories.”
nasdaq.com is the source for this information.
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