![]() ![]() ![]() Hopefully, the company’s scaled-up production capacity will help Plug Power improve its financials.Īgain, it requires a great deal of forward-thinking vision to invest confidently in Plug Power. Plug Power’s gigafactory should keep any competitors in the green hydrogen production business at bay. ![]() So, Here’s My PLUG Stock Price Prediction for 2030 Plug Power’s gigafactory is located in Rochester, New York, and it reportedly produced 122 megawatts of “electrolyzer stacks for customers and Plug’s green hydrogen plants.” Moreover, prepare for a major scale-up as Plug Power is “on track” to ramp the gigafactory’s capacity up to 100 megawatts per month in the middle of the current quarter, “with plans to further increase output” during the third quarter of this year. This gigafactory features over 2 gigawatts of electrolyzers, 60,000 fuel cell stacks and 2.5 gigawatts of output capacity. I’m referring to Plug Power’s gigafactory, where on-site green hydrogen production takes place on a massive scale. In addition, Plug Power reported a widening net earnings loss during that time frame. It’s also problematic that Plug Power’s cash and cash equivalents dwindled from $2.48 billion at the end of 2021 to $690.63 million at the end of 2022. On the other hand, Plug Power has a track record of quarterly EPS misses. Plus, the average price target for PLUG stock is $25.50, which indicates strong upside potential. Out of 21 analysts, 16 gave Plug Power a “buy” rating and no “sell” ratings were observed. Indeed, Plug Power’s well-heeled investors include famous names like Vanguard and BlackRock (NYSE: BLK).įurthermore, Wall Street’s experts generally favor Plug Power. Still, the current Plug Power share price of around $10 seems too cheap, so there’s an opportunity here.Įven though many financial traders gave up on Plug Power, Samuel O’Brient reported that some big-money investors are staying in the trade. I’ll be the first to admit that $60 was too high, too soon. PLUG stock peaked at around $30 last year and, prior to that, traded above $60 per share. InvestorPlace - Stock Market News, Stock Advice & Trading Tips PLUG Stock Investors Will Have to Forgive Poor Financials Instead, consider how much shareholder value the company could provide through 2030. Therefore, don’t over-focus on Plug Power’s progress in 2023. Really, Plug Power’s loyal shareholders are willing to accept imperfections today, in anticipation of potential returns down the road. As we’ll discover, the company doesn’t check all of the boxes for folks who insist on picture-perfect financials. To be honest, it requires faith and vision to confidently invest in Plug Power. Are investors missing out on a great opportunity? I’d say so, as Plug Power’s gigantic green hydrogen production facility could prove to be a major revenue generator. Interestingly, Plug Power (NASDAQ: PLUG) is generally favored by Wall Street’s experts even while PLUG stock can’t seem to get off the ground. ![]()
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