Plug Power Stock
Following the release of Q2 results, the Plug Power Stock price declined 0.38% to $25.90. However, with the next trading day, it gained back 7.8% to $27.91. The stock is still trading considerably below Plug Power Stock price’s 52-week high of $75.49.
The Plug Power Stock price fell on March 16 when the firm announced that it was restating its financial results. Accounting issues mostly relating to non-financial elements, such as how some costs were handled, were noted by management. Following the release of the restated financials, the stock price increased.
Is Plug Power a Good Stock?
Plug Power, headquartered in Latham, New York, primarily sells hydrogen fuel cells for forklifts in big factories. Its fuel cells are used to replace current batteries in electric powered devices and automobiles. Nike (NKE), Amazon (AMZN), Home Depot (HD), and Walmart (WMT) are among Plug Power’s customers. In 2002, Plug Power stock went publicly listed.
By 2024, the business expects to have produced more than half of its hydrogen energy from totally renewable sources. It also intends to expand beyond forklifts to large vehicles to service ports in the United States and Europe, along with stationary fuel cells to powered network infrastructure and distribution hubs.
The company expects to profit from a trillion-dollar economic bill planned for a House vote. The package contains $8 billion in funding for hydrogen-related initiatives.
Plug Power revised their 2020 earnings on May 14, adding $7.2 million to get it to a -$93.2 million. It lowered 2019 profit by around $300,000 and 2018 profit by approximately $400,000. 2020 losses increased by 10 cents per share to $1.68, while 2019 losses stayed constant, and 2018 losses increased by 3 cents per share.
Let’s take a glance at the Plug Power earnings and fundamental analysis to decide if it is a good stock.
- According to CEO Andy Marsh, the changes were non-financial and had no effect on company processes.
- Plug Power announced mixed Q2 statistics on August 6. On earnings of $124.6 million, it lost 18 cents per share.
- Gross billings increased to $126 million, up from $75 million in the previous period. Plug Power anticipates that gross billings will hit $750 in 2022.
- According to Plug Power, the statistics included legal and accounting expenditures associated with the restatement of previously announced financial accounts.
- Wall Street projected a 7-cent deficit on $113.8 million in revenue.
What Is the Forecast for Plug Power Stock?
On October 14, Plug Power stated during its yearly symposium that it anticipates earnings of $825 million to $850 million in 2022, a 65% increase over 2021 and beyond FactSet projections of $759.7 million.
Thinking forwards to 2025, Plug anticipates revenues of $3 billion, compared to the expectation of $2.2 billion. The business recently announced a 50-50 joint project with Fortescue Future Industries to develop a new factory in Australia.
Even after the industry’s announcement, Plug Power Stock price fell over 6%. Nevertheless, the price had risen nearly 13% the day before on reports of its collaboration with Airbus and speculations.
What Was Plug Power Highest Stock Price?
Historical daily share price chart and data of Plug Power Stock Price adjusted for splits (since 1999). The latest closing Plug Power Stock Price as of the last trading day, October 15, is $31.24.
- On March 10, 2000, Plug Power stock had the highest closing price, which was $1498.00.
- The 52-week high PLUG value is $75.49, which means 141.6% above the current value.
- The 52-week low PLUG value is $13.69, which means 56.2% below the current value.
- For the last 52 weeks, the average Plug Power Stock price is $32.84.
Is Plug Power a Good Stock to Buy Now?
As per the Plug Power Stock prediction of JPMorgan, the entire market potential may be worth more than $200 billion. Plug Power is gathering capital to fund an ambitious expansion strategy and forming strategic alliances with major industry players.
Nevertheless, it has yet to demonstrate that it is profitable. This is possibly attributable to the fact that it now offers fuel cells for only one specific vehicle, forklifts. Whereas it intends to produce hydrogen fuel cells for those other sectors, a wait-and-see statement is probably preferable.
Furthermore, Plug Power’s proposal to establish a factory in southern New York may encounter a hitch. The Seneca tribe filed a lawsuit against Genesee County Economic Development Center regarding plans to build an industrial park which they claimed borders on their property.
As a result, PLUG is not a buy for now since it is not in a buy range and no apparent signal is appearing.
What Is the Future of Plug Power Stock?
The median 12-month Plug Power Stock Forecast from several analysts providing 12-month Plug Power Stock Predictions is $41.50, with a highest of $78.00 and a lowest of $13.00. The average Plug Power Stock Prediction reflects a +32.89% gain over the previous stock price of $31.23.
As per the current statistics, PLUG shares and even its trading environment have been in a bullish trend for the last year. There appears to be a present trend in which equities in the Industrials Manufacturing sectors have been successful throughout this term. As per stock experts, there will also be a bullish trend in the long-term, and PLUG may be ideal for trading in order to make money.
Will Plug Power Stock Go Up Tomorrow?
Below, you can find the list of Plug Power Stock Forecast for the upcoming days.
|Date||Price||Min Price||Max Price|
|2021-10-19||Price: 31.692||Min: 29.053||Max: 34.285|
|2021-10-20||Price: 32.583||Min: 29.840||Max: 35.232|
|2021-10-21||Price: 32.859||Min: 30.297||Max: 35.572|
|2021-10-22||Price: 32.840||Min: 30.262||Max: 35.675|
|2021-10-25||Price: 32.728||Min: 29.937||Max: 35.279|
|2021-10-26||Price: 32.850||Min: 30.343||Max: 35.459|
|2021-10-27||Price: 33.742||Min: 31.217||Max: 36.471|
|2021-10-28||Price: 34.018||Min: 31.500||Max: 36.732|
|2021-10-29||Price: 33.999||Min: 31.451||Max: 36.497|
Why Is Plug Power Stock Down?
Several high-growth technology firms have failed but Plug Power has certain corporation challenges that have traders concerned. The corporation experienced negative sales of $316 million for the final quarter of 2020, February, causing the PLUG stock to decline 13.6% on the same day.
To conclude, as per Plug Power Stock predictions, the corporation’s economic situation is good, but its earnings are low. Its growth rate is higher than that of 68% of the corporations in the Industrial Products sector.
How Do I Invest in Plug Power Stock?
First and foremost, you must have a trading account. You can create a new account if you don’t already have one. After you’ve created your account, proceed with the instructions below.
- Analyze stock trading platforms.
- Open your trading account.
- Fill up the form with your contact details.
- Use your payment details to verify and fund your account.
- Before deciding, search the stock by name or the ticker, PLUG, to check whether it’s a great buy for you.
- Place a market order for the number of stocks you want to buy or use a limit order to postpone your transaction until the target stock price is reached.
- Tracking your stock can help you optimize your portfolio.
Plug Power Stock Price Prediction 2022, 2023, 2024, 2025, 2026
Plug Power may be a good investment choice if you are seeking for stocks with a great profit. Currently, the price of Plug Power Inc is $31.240. As per several Plug Power Stock forecasts, a long-term rise is predicted, with the Plug Power Stock predictions for 2026 hitting $85.079. Also, according to these Plug Power Stock forecasts, the income is projected to be about +172.34% after a 5-year investment. So that, in 2026, your present $100 investment may be worth up to $272.34.
- The current price of PLUG is $31.240.
- Plug Power Stock prediction in 14 days is $36.732 USD highest and $29.013 lowest.
- In one year, the price can rise from $31.240 to $39.512, as per the Plug Power Stock forecasts.
- In one year, the percentage of long-term profit potential is +26.48.
- As per the Plug Power Stock forecast 2026, the price will be 85.079.
Plug Power’s pricing began in 2021 at $24.66. Plug Power is currently trading at $31.24, a 27% gain from the beginning of 2021. The expected Plug Power price by the end of this year is $35.77, with a +45% year-on-year growth. The increase from now until the end of 2021 is 15%. During the first half of 2022, the price of PLUG will go up by $42.62; in the second half, the price will go up by $7.18 to end of 2022 at $49.80, a +59% increase over the current price.
- Plug Power Stock Forecast 2023-2027
Over the next 5 years, the PLUG price is projected to rise from $49.80 to $100.43, a 102% increase. Plug Power will begin 2023 at $49.80 and rise to $56.72 in just the first six months of 2023, and close at $57.57 by the end of 2023. That is an increase of +84% from now.
- Plug Power Stock Forecast 2028-2032
Throughout this time, the PLUG price would climb by 25%, from $100.43 to $125.87. PLUG will begin 2028 at $100.43, then rise to $102.50 in the first 6 months, and close at $104.66 by the end of 2028. It is around +235% higher than now.