Opinions
Editor
Plug Power Inc
PLUG-Q
COMMENT
Jan 09, 2020
Stock price when the opinion was issued
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PLUG stock has been quite weak, but it is still in fundamental growth mode. Sales are expected to go from ~$700M in 2022 to more than $1.9B in 2024, based on estimates. It is, however, still losing money, with negative cash flow, and in a weaker market tape investors get more concerned about this. The balance sheet is decent, with about $400M net cash, but we note cash flow was negative $1B in the last 12 months. It will likely need more capital, and it may be more interesting when it decides to issue equity (we are assuming a discounted price if this happens). Its loss last quarter was higher than expected, and it had previously expected to be profitable this year, but this now looks to be pushed into 2025. So, we like the growth trend, but are a little concerned about its capital needs. We think buyers can wait here.
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PLUG is a risky investment. CNN Business thinks the following for the next 12 months: "The 8 analysts offering 12-month price forecasts for Plug Power Inc. have a median target of $4.00." Experts on Stockchase did not review this stock yet, you can find more information on Tradingview.