![]() ![]() Nonetheless, given its lack of profitability, it is evident that PLUG had relied on long-term debts to sustain its operations and expansions. Nonetheless, we are not overly concerned since it has remained relatively stable at 67.19% to its growing revenues in the LTM and mostly attributed to its new Gigafactory, thereby revenue accretive eventually. These would easily last PLUG for the next two years, given its capable management thus far.Īs a result of its expanding operations and projects, PLUG also increased its operating expenses over time to a total of $383.3M in the LTM, representing an increase of 268.4% from FY2020 levels. Nonetheless, we are not overly concerned for now, given its massive war chest of $3.17B of cash and equivalents on the balance sheet. Therefore, PLUG has yet to report positive Free Cash Flow (FCF), with an FCF of -$715.3M and an FCF margin of -125.2% by the LTM. By the LTM, PLUG reported a deepening net loss of -$555.7M with net income margins of -97.3%. Nonetheless, it is also clear that the company has yet to report profitability, given its negative margins, especially so given the elevated gas prices and material prices. PLUG has had healthy revenue growth in the past few years, at an impressive CAGR of 54.57%, with a total of revenues of $570.3M in the LTM. PLUG Is Set To Perform Well Despite Temporary Headwinds Unfortunately, the stock may slide further to new lows in the intermediate term. As a result, the stock had continued to fall by -27.78% since our previous analysis, from $25.27 on 03 March 2022 to $18.25 on 13 July 2022.įor now, we are downgrading our buy rating to hold, since it was evident that PLUG is unlikely to recover before sometime in FY2023, when the energy market stabilizes. Nonetheless, the macro headwinds have also presented temporary headwinds to PLUG's stock performance, on top of the market fears of the potential recession due to the Fed's continuous hike in interest prices. The company has been cementing its future capabilities through its Gigafactories in NY in 2021, Australia by 2023, and South Korea by 2024. ( NASDAQ: PLUG) remains well poised to take advantage of the race for green energy generation, given the recent macro events in Ukraine and the record high oil/ gas prices. The Gross Law Firm Notifies Shareholders of Plug Power Inc.Plug Power Inc.Plug Lands Three Electrolyzer Deals for European Green Hydrogen Projects in Hard to Decarbonize Industries.Plug Power Makes Major Strategic Move into Finland’s Green Hydrogen Economy with its Proven PEM Electrolyzer and Liquefaction Technology.Amended Statement of Changes in Beneficial Ownership (4/a).Statement of Changes in Beneficial Ownership (4).of a Class Action Lawsuit and a Lead Plaintiff Deadline of J(NASDAQ: PLUG) The Gross Law Firm Notifies Shareholders of Plug Power Inc.Plug Supplies 8 MW of Hydrogen Fuel Cells to Energy Vault to Displace Diesel Generators in California Wine Country.Plug Power CEO Andy Marsh To Present at the 2nd Annual Evercore ISI Global Clean Energy & Transition Technologies Summit on J.Jakubowitz Law Reminds Plug Shareholders of a Lead Plaintiff Deadline of J.Energy Vault selects Plug Power to Supply 8 MW of Hydrogen Fuel Cells as part of hybrid microgrid back-up system for PG&E and the city of Calistoga.Plug Power Announces Webcast Details for JAnalyst Day. ![]() Plug to Provide STEF with Green Hydrogen and Fuel Cell Solutions for Cold Storage Distribution Centers.Plug Teams Up with Avina to Decarbonize Commercial Trucking.Plug Power Hosts Analyst Day to Showcase Revenue Growth Opportunities and Operational Scale at Gigafactory. ![]()
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