Last Updated: 19 Sep 2024
Executive Summary
Plug Power Inc. (PLUG) is a leading provider of turnkey hydrogen fuel cell solutions for the stationary power and electric mobility markets. The company has a strong market position and is well-positioned to benefit from the growing demand for hydrogen fuel cells. However, the company is currently unprofitable and faces significant competition from other players in the industry. The latest stock price of $2.1 is below the analyst target price of $4.25, indicating that the stock is currently undervalued.
Company Overview
Plug Power Inc. was founded in 1997 and is headquartered in Latham, New York. The company provides turnkey hydrogen fuel cell solutions for the stationary power and electric mobility markets in North America and Europe. Plug Power's solutions include hydrogen fuel cells, electrolyzers, and hydrogen storage systems. The company's customers include major corporations such as Amazon, Walmart, and FedEx.
Fundamental Analysis
Plug Power Inc. is currently unprofitable and has a negative EBITDA of -$1.049 billion. The company's revenue grew by -0.449% year-over-year to $684.486 million in the latest quarter. Plug Power's gross profit margin is -2.168%, and its operating margin is -1.642%. The company's return on assets is -0.137%, and its return on equity is -0.441%.
Technical Analysis
Plug Power Inc.'s stock price has been in a downtrend since early 2023. The stock is currently trading below its 50-day and 200-day moving averages. The stock's relative strength index (RSI) is 30.88, indicating that the stock is oversold.
Short Term Outlook
Plug Power Inc.'s stock is expected to continue to trade in a downtrend in the short term. The stock is likely to face resistance at its 50-day and 200-day moving averages. The stock's RSI is oversold, indicating that the stock may be due for a rebound.
Long Term Outlook
Plug Power Inc. is well-positioned to benefit from the growing demand for hydrogen fuel cells. The company has a strong market position and a number of partnerships with major corporations. The company's long-term outlook is positive.
Analyst Recommendations
The majority of analysts have a hold rating on Plug Power Inc. The average analyst target price is $4.25.
