is scheduled to report Q2 earnings post-market on Friday, August 2nd. The company ended the quarter with approximately $1.37 billion of cash and short-term investments on its balance sheet against approximately $350 million of long-term debt.

There has been no insider activity in the shares (either buys or sells) since July 2021. Wainwright has a ludicrous $78 price target on the stock.Īpproximately 23% of the outstanding shares in the stock are currently held short. Their price targets range from $12 to $22 while H.C. Meanwhile, 11 analyst firms including BTIG, RBC Capital and Piper Sandler have reiterated/assigned Buy/Outperform ratings on PLUG, several with downward price targets revisions it should be noted. Price targets proffered range from $7.50 to $15.00 a share. Since first quarter numbers were posted, five analyst firms including Morgan Stanley and BMO Capital have posted Hold/Neutral ratings on PLUG. Management also plans to commission plants in Texas, New York and Louisiana later this year.

The company recently opened a plant in Georgia that will be the largest green hydrogen play in the world that utilizes electrolyzers. As, or more concerning, net cash used for operating activities rose to $277 million from $210 million in the same year a year ago.įive weeks later, the company's CEO did raise FY2023 revenue guidance to $1.3 billion, a tad over the consensus and reiterated the company could do $20 billion in annual sales by FY2030 in front of Plug Power's annual investment day. The stock dropped on the quarterly results as the company's net loss increased from $156.5 million in 1Q2022 to a $206.6 million net loss in the quarter.

Revenues rose nearly 50% on a year-over-year basis to $210.3 million, a few million above expectations. Plug Power had a GAAP loss of 35 cents a share, nearly a dime below the consensus. The company posted its first quarter numbers on May 9th. The stock currently trades just under $13.00 a share and sports a market capitalization of just north of $7 billion. The company bills itself as the ' leading provider of comprehensive hydrogen fuel cell (HFC) turnkey solutions.' Some of its key customers include Amazon ( AMZN), BMW, and Walmart ( WMT). It provides various hydrogen-based products such as mobile cryogenic solutions, hydrogen liquefiers, and electrolyzer hydrogen production products. Plug Power also supplies hydrogen fuel cell backup power solutions. Products include its ProGen engines supporting light, medium, and heavy-duty electric vehicles as well as fuel cell solutions that can power forklifts and other warehouse machinery. This includes supply chain and logistics applications, on-road electric vehicles as well as the stationary power market. The company delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions to a variety of end clients. Oversold or falling knife? An analysis of Plug Power follows below. The stock has lost some 80% of its value from its all-time highs early in 2021. Its shares are heavily shorted even as there is little insider activity in the shares. This alt-energy concern seems to have become a 'battleground stock' in the analyst firm community. ( NASDAQ: PLUG ) in the spotlight for the first time. Power is only given to those who are prepared to lower themselves to pick it up.' - Ragnar Lothbrok.

It corrupts the best and attracts the worst.

Plug power news 2021