![]() 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. Now, it’s time to ask yourself a tough question: Are you willing to overlook Plug Power’s current financial issues? If so, then I invite you to consider the piece of the puzzle that will drive Plug Power’s growth through 2030. Gigafactory Is the Key to Plug Power’s Future Growth 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. Portfolio PLUG Stock Chart & Stats Advanced Chart > Day’s Range 0 - 0 52-Week Range 7.39 - 31.56 Previous Close 8.77 Volume 14.45M Average Volume (3M) 21.86M Market Cap 5.27B Enterprise Value 4.02B Total Cash (Recent Filing) 1.82B Total Debt (Recent Filing) 575.30M Price to Earnings (P/E) -6.6 Beta 2. 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. PLUG Stock Investors Will Have to Forgive Poor Financials
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