Plug Power Inc (PLUG) Stock Rises 15.77% Ahead of CEO AMA Focused on Shareholder Meeting
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5d ago
0mins
Source: Benzinga
- Stock Surge: Plug Power's stock rose 15.77% to $2.56 on Thursday, reflecting investor optimism ahead of the CEO AMA that could influence the company's future capital structure.
- Hydrogen Platform Evolution: Since its founding in the late 1990s, Plug Power has transformed into a vertically integrated green hydrogen platform, deploying over 72,000 fuel cell systems and 285 fueling stations, with a daily production capacity of 40 tons, serving notable clients like Walmart and Amazon.
- Importance of Shareholder Meeting: The upcoming special shareholder meeting will address modernizing voting standards and increasing authorized common shares, which, if approved, would provide Plug with flexibility to raise funds and restructure debt, while rejection could lead to a reverse stock split, increasing liquidity risks.
- Earnings Report Expectations: Investors are looking forward to the earnings report on March 2, with an estimated loss of 11 cents per share and revenue expected at $218.10 million, reflecting growth from last year, while analysts maintain an average price target of $2.38, indicating cautious optimism about future performance.
Analyst Views on PLUG
Wall Street analysts forecast PLUG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PLUG is 2.46 USD with a low forecast of 0.75 USD and a high forecast of 7.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
4 Buy
8 Hold
3 Sell
Hold
Current: 2.300
Low
0.75
Averages
2.46
High
7.00
Current: 2.300
Low
0.75
Averages
2.46
High
7.00
About PLUG
Plug Power Inc. is engaged in offering end-to-end green hydrogen ecosystem, from production, storage, and delivery to energy generation, to help its customers meet their business goals. The Company develops commercially viable hydrogen and fuel cell product solutions. It provides electrolyzers that allow customers, such as refineries, producers of chemicals, steel, fertilizer and commercial refueling stations, to generate hydrogen on-site. It focuses on industrial mobility applications, including electric forklifts and electric industrial vehicles, at multi-shift high volume manufacturing and high throughput distribution sites and environmental benefits; stationary power systems that supports critical operations, such as data centers, microgrids and generation facilities, in either a backup power or continuous power role and replace batteries, diesel generators or the grid for telecommunication logistics, transportation, and utility customers; and production of hydrogen.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
