Plug Power Inc. (PLUG) : What’s the Story?

Plug Power Inc. (NASDAQCM:PLUG) is an interesting player in the Technology space, with a focus on Diversified Electronics. The stock has been active on the tape, currently trading at $1.25, up from yesterday’s close by 1.63%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

Money managers are always interested in a company that can find the right recipe of fundamental data because it reflects something important going on underneath the surface. Plug Power Inc. (PLUG) currently trades with a market capitalization of $238.54M. That value represents a market adjusting for revenues that have been falling by -44.10% on a quarterly year/year basis as of the company’s last quarterly report.

The balance sheet health of any company plays a key role in its ability to meet its obligations and maintain the faith of its investment base. For PLUG, the company currently has $42.49M of cash on the books, which is offset by $69.27M current liabilities. You can get a sense of how sustainable that is by a levered free cash flow of $-66.05M over the past twelve months. Generally speaking, earnings are expected to hold steady in coming quarters. Analysts are forecasting earnings of -0.05 on a per share basis this quarter. Perhaps, that suggests something about why 19.00% of the outstanding share supply is held by institutional investors.

Technical Analysis

It’s important to check the technicals to get a sense of how has been acting. Looking at the stock’s movement on the chart, Plug Power Inc. recorded a 52-week high of 2.28. It is now trading 1.05 off that level. The stock is trading 1.34 its 50-day moving average by 0.11. The stock carved out a 52-week low down at 1.18.

In recent action, Plug Power Inc. (PLUG) has made a move of -8.76% over the past month, which has come on Strong relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 39.21, and it’s gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 178.75M with 17.46% sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of PLUG.

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