- The price of the Plug Power Inc. share has declined by -69.52% in the last one year.
- The PLUG stock is currently trading close to its all-time low price.
Plug Power Inc. is an American Company that develops green hydrogen fuel cells. The company aims to replace lead-acid batteries with hydrogen fuel cells. The company was a joint venture between DTE Energy and Mechanical Energy Inc. founded in the year 1997 and went public in October 1999.
Plug Power Inc. has a market cap of $5.225B and has 601.972M shares trading in the market. The company has a basic EPS of -1.42 USD, which means that the trader is willing to pay less amount of money for the stock than its current price. The stock’s current beta is 2.44 which indicates that the stock is highly volatile and moves more than the overall market as a whole.
The net cash for the company has declined by -74.3% resulting in $579.42M but the accounts receivable for the company have advanced by 252.3% for Q2 2023 following year-on-year change. The current ratio of the company is 3.16 which indicates that the company is capable enough to pay its debt and the days of sales outstanding for the company is 130.74 which is slightly a higher number for the company.
Plug Power Inc. Performance Analysis
The company has a debt of $898.73M as of the year 2022 which is slightly higher as compared to the previous year. The free cash flow for the company has also declined but there has been an advance of $199.1M in the revenue of the company as of 2022.
PLUG Share Technical Analysis
a by writer11_gsm on TradingView.com
The share price of the plug has been consistently declining from the higher levels and has recently made a double bottom at the lower levels and if the current swing low sustains then the price breaking above $13.50 can lead to much higher prices in the future.
As the price has been consistently declining from the higher levels, the 50-day and the 200-day EMA are trading in a death cross indicating the bearish trend of the market.
The RSI on the charts is consistently advancing after hitting the oversold zone and has broken out above the 14-day SMA line but it cannot be considered bullish unless it hits the overbought zones on the chart.
Technical Overview of PLUG Stock
The technicals for the PLUG share are neutral as the EMA’s and the oscillators are giving mixed signals for the stock but the analysts are bullish on the stock considering the fundamentals of the company.
Conclusion
The price of the share is trading in a downtrend but is sustaining at the lower levels forming a double bottom pattern but the RSI and the EMA are still negative for the stock.
Therefore, the price of the stock can advance to higher levels once it breaks above the level of $14.00. Till then the price of the share be uncertain and volatile to bearish on the charts.
Technical Levels
- Support Levels – $5.50 and $7.40
- Resistance Levels – $ 13.50 and $19.00
Disclaimer
The information provided in this article, including the views. And opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.