Most recently, PLUG received an order to supply a gigawatt (GW) electrolyzer to hydrogen fuel-cell outfit H2 Energy Europe. Just last month, Plug’s industry leading position was reinforced with a new agreement with longstanding customer Walmart (NYSE: WMT) to supply green hydrogen for as many as 9,500 of the retailers forklifts across its fulfillment and distribution centers. Nevertheless, Plug Power is the real deal and an undisputed leader in hydrogen’s role as a powerful decarbonization solution for business. I’m not bold enough to call PLUG The “Tesla of Hydrogen” as InvestorPlace’s Luke Lango has. The thing is Plug Power is building an increasingly sustainable business for an alternative “green hydrogen” fuel source and economy whose time has finally arrived. And surging natural gas prices, which drive much of today’s hydrogen production, are making those red-line items more of an eyesore.īut those are shorter-term headwinds for PLUG. Tickerįirst, let’s get the ugly stuff out of the way. Let’s look at the reasons why a more sustainable bull market in PLUG stock is likely to emerge and how to buy into that potential more smartly. But it’s time to see the opportunity and look past the fear. From supply chain snarls to inflation at multi-decade highs and hawkish, behind the eight ball central bankers trying to reign in prices while avoiding a recession, it has been a tough environment.Īnd those challenges have been particularly harder for smaller growth narratives, even market leaders like Plug Power whose shares remain down 41% year-to-date and nearly 80% from their multi-decade peak of $75.49 in late January 2021. It’s no secret Wall Street has been a wreck for most stocks in 2022. PLUG stock is up 9% compared the tech-heavy Nasdaq’s gain of 3%. Investors can keep reading for even more of the most recent stock market news worth knowing about today.The market is rallying for a second straight day and shares of hydrogen champion Plug Power (NASDAQ: PLUG) are enjoying an outsized lift. The company’s daily average trading volume is about 24.8 million shares. PLUG stock is up 5.4% Friday morning as some 9 million shares change hands. This marks the company’s largest oil and gas sector project currently announced in Europe. Investors will note that PLUG just announced a 100-megawatts electrolyzer deal yesterday. We see PLUG generating higher revenue from its electrolyzer business and achieving better margins.” “We now have confidence that the company should be able to achieve margin break even by the end of the year and generate cash flow next year. Here’s what Sinha said in a note to clients obtained by CNBC: Also, it’s worth noting the analysts’ consensus price prediction for PLUG is $20.17 per share. That has them expecting a potential 78% upside for the company’s shares. The Northland Securities analyst continues to hold a $22 price target for PLUG stock. For the record, the analysts’ consensus rating for PLUG shares is “moderate buy” based on 19 opinions. Plug Power (NASDAQ: PLUG) stock is getting a boost on Friday after Northland Securities analysts upgraded the hydrogen fuel cell company’s shares.Īnalyst Abhishek Sinha is behind this news as they upgraded shares of PLUG stock from a “market perform” rating to an “outperform” rating.
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