J.P. Morgan analyst Bill Peterson recently highlighted Plug Power‘s 2024 outlook and advancements in hydrogen production.
Plug Power is on track to deliver approximately 15% of its annual revenue in the first quarter, with a projected year-over-year growth of 10%-15%. The company plans to deploy 300MW-400MW of electrolyzers in 2024, with a focus on Europe.
Once PTC guidance is finalized, Plug Power expects to see an increase in customer interest. The company aims to produce hydrogen at an average cost of $4-$5/kg, with the potential to reach as low as $3/kg at its upcoming Texas plant.
By the end of the year, Plug Power plans to have a total capacity of 40 TPD across three plants. With anticipated price increases, the company hopes to see improved fuel margins starting in the second quarter.
PLUG Stock Shows Resilience with Positive Momentum Near 52-Week Low on March 15, 2024
On March 15, 2024, PLUG stock showed some positive momentum as it traded near the bottom of its 52-week range and below its 200-day simple moving average. Throughout the day, the price of PLUG shares increased by $0.02, representing a 0.60% rise.
Despite trading near the bottom of its 52-week range, PLUG stock showed some resilience on March 15th with a slight uptick in price. This could indicate that investors are starting to show some interest in the stock, potentially leading to further gains in the future.
Investors should continue to monitor PLUG stock closely to see if the positive momentum continues in the coming days. It is important to consider the overall market conditions and any company-specific news that could impact the stock’s performance.
PLUG Stock Performance Analysis: Revenue Increases, Net Income Declines – March 15, 2024
On March 15, 2024, PLUG stock experienced mixed performances based on the financial data provided. The total revenue for the company was reported at $891.34 million for the past year, showing a 27.07% increase compared to the previous year. However, the total revenue remained flat at $222.16 million for the last quarter.
In terms of net income, PLUG reported a net loss of $1.37 billion for the past year, which represents an 89.06% decrease compared to the previous year. On the other hand, the net loss for the last quarter was reported at $642.39 million, showing no change from the previous quarter.
Earnings per share (EPS) for PLUG stock were reported at -$2.30 for the past year, indicating an 84.07% decrease compared to the previous year. The EPS for the last quarter was reported at -$1.06, showing no change from the previous quarter.
Overall, the financial performance of PLUG stock on March 15, 2024, reflects a mixed outcome. While the total revenue showed a significant increase compared to the previous year, the net income and EPS experienced declines. Investors may need to closely monitor the company’s financial performance and future outlook to make informed decisions regarding their investment in PLUG stock.
