Plug Power stock: buy or sell
Updated on:
Jan 18th, 2021
1
Plug Power stock brief
- Plug Power closed last Friday at $60.14 after collapsing a -9.62% and broke a streak of 7 sessions in positive.
- The stock is configuring an uptrend pattern since March 2020, when it bottomed at $2.53. Up to date, shares made a 2,277.08% gain since the beginning of this rally
- JPMorgan Chase & Co. published a neutral rating for Plug Power last Thursday, with a forecast of $60.00
- Plug Power Inc. provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe.
Should I buy Plug Power stock?
Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $PLUG stock a buy?
Currently, Plug Power stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean we expect a selloff for $PLUG in the next few days, or that it may not rise higher. Simply, it doesn't match our recommended trading systems
Should I sell Plug Power stock?
When you own a stock with some profit, it's really difficult to decide the best moment to sell and get your profits. Trading strategies help us to avoid impulsive decisions based on our personal emotions or the buzz surrounding the market. Our trading system selects very simple setups to guide us on when is the best moment to sell our shares. Be aware that these setups should not be used for shorting Plug Power stock
As a golden rule, you must never mantain an investment that shows a greater losses than those expected by the time of the buy. The timing to sell shares always has to be dictated by the stop-loss (automatic or manual)
Is it time to sell Plug Power stock?
Currently, Plug Power stock doesn't match any of our preferred sell setups, so if you own Plug Power shares and your operation is in profit probably is not time to sell now
Plug Power ratings
In the last 30 days, 8 ratings were published for Plug Power. General sentiment is bullish, with 7 out of 8 publishing positive forecasts
| Brokerage firm | Rating |
|---|---|
| Dec 21st, 2020 | |
| Morgan Stanley | Buy |
| Jan 7th, 2021 | |
| B. Riley | |
| Canaccord Genuity | |
| Cowen | Buy |
| Jan 12th, 2021 | |
| Truist | |
| Jan 13th, 2021 | |
| B. Riley | |
| Craig Hallum | |
| Jan 14th, 2021 | |
| JPMorgan Chase & Co. | Neutral |
Plug Power stock analysis
Since in March 2020, Plug Power has been printing an uptrend that by now marked an amazing 2,277.08%. During this uptrend, the price offered some buy points on the breakouts. Latest low was last October, when price bounced at $13.69. Currently, it swings in a consolidation between its last top ($73.90) and its last bottom ($13.69)
SMAs overview
Supports and resistances
The current resistance levels are:
The current support levels are:
Bollinger bands
Since the price surpassed the upper band last Thursday, the price sliced by 12.27%
Relative strength index
Climbed over the 70 level last Friday, marking a reading of 71.43. Crossing up above the overvalued zone is not a bearish signal, as shares can climb during several weeks being above the level of 70
Plug Power stock price history
Plug Power started trading priced at an adjusted price1 of $157.50 on Oct 1999. Since then, PLUG stock declined by -61.82%. An investment of thousand dollars on the IPO would worth $381.84 nowadays.
1: Adjusted price after possible price splits or reverse-splits
Price target for Plug Power stock
How much a stock will be priced tomorrow or next week is quite unpredictable. However, many stock price forecasts are published every day by banks, financial institutions and independent analysts.
Along with buy or sell recommendations, brokerage institutions publish their price predictions based on the stock price action and the company fundamental data. Most of these estimates follow the publication of new fundamental information by the company, and many times. If you are a small investor you must not invest based on these price targets.
Averaging all price targets exposed below, the predicted price for Plug Power stock is $58.25. Plug Power closed at $60.14 last Friday, so the target price is predicting a decrease by 3.14%.
| Brokerage firm | Price target |
|---|---|
| Dec 21st, 2020 | |
| Morgan Stanley | $14.50 → $38.00 |
| Jan 7th, 2021 | |
| B. Riley | $24.00 → $52.00 |
| Canaccord Genuity | $25.00 → $48.00 |
| Cowen | $35.00 → $50.00 |
| Jan 12th, 2021 | |
| Truist | $60.00 |
| Jan 13th, 2021 | |
| B. Riley | $52.00 → $79.00 |
| Craig Hallum | $60.00 → $79.00 |
| Jan 14th, 2021 | |
| JPMorgan Chase & Co. | $60.00 |
Earnings and financials
Plug Power Inc. ($PLUG) published quarterly earnings of $-0.04 per share last November, strongly enhancing the Market consensus estimate of $-0.07 per share. This quarterly report represents an earnings surprise of 42.86%. On the contrary, reported sales were $107.0 million, consistent with the market forecasts.
Same quarter one year ago, reported EPS was $-0.09, so recently reported EPS is a gain of 55.56%. Looking at sales, figures skyrocketed a 89.78% compared to $563.8M same quarter a year ago.Plug Power ($PLUG) is hosting the Q4 earnings call next March. Estimated for this quarter is $-0.10, compared to $-0.04 that was reported for Q3.
Plug Power performance
| Company | 1m | 3m | 6m |
|---|---|---|---|
| Plug Power ($PLUG) | 110.60% | 244.10% | 574.20% |
Important:
The thoughts published in this article are personal and not recommendations for you to buy or sell shares. The author of this paper does not have an understanding of the specific situations of the reader, his or her own finances or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Opinions are provided for informational motives onlyPlug Power summary
| Friday, January 15th, 2021 | |
|---|---|
| Open | $63.15 |
| Close | $60.14 |
| Day range | $57.32 - $65 |
| Previous close | $66.54 |
| Session gain | -9.62% |
| Average true range | $8.04 |
| 50d mov avg | $31.09 |
| 100d mov avg | $22.57 |
| 200d mov avg | $14.59 |
| Earnings date | March 4th, 2021 |