Plug Power Stock Analysis: Experts Warn of Challenges Ahead for Hydrogen Specialist

Kulmbach (www.aktiencheck.de) – Plug Power stock analysis from “Der Aktionär”:

In a current stock analysis, Michel Doepke from the investor magazine “Der Aktionär” takes a close look at the shares of the hydrogen specialist Plug Power Inc. (ISIN: US72919P2020, WKN: A1JA81, ticker symbol: PLUN, NASDAQ symbol: PLUG).

The start of hydrogen production in the US state of Georgia and the prospect of a billion-dollar loan from the US Department of Energy gave Plug Power shares a massive boost this trading week. However, the analysts at BMO Capital Markets would dampen expectations and downgrade the hydrogen stock to “underperform” with a price target of USD 2.50.

In his current study, analyst Ameet Thakkar referred to Plug Power’s business development conference call on Tuesday and wrote of “positive aspects”, but also of an “increasingly difficult path” between “now and when and if” the company spends the money the Department of Energy’s credit facility. Thakkar said Plug Power’s timeline for receiving the Energy Ministry’s loan appears “quite optimistic.” The hydrogen company itself expects the important loan to be finalized in the third quarter of 2024.

It remains to be seen whether the borrowed capital will actually flow from the US Department of Energy. Plug Power wants to collect short-term liquidity directly from the capital market via a so-called “ATM program” with a volume of USD 1 billion. Dilution inevitable.

The billion-dollar loan is essential for Plug Power, because given the financial development of the past few years and the full-bodied promises, it will be very difficult to obtain financially viable external financing from banks. Therefore, only the capital market remains, which the US company is now tapping into via the ATM program. Investors should continue to exercise caution and stay away from the stock for the time being, said Michel Doepke from the investor magazine “Der Aktionär” in a current stock analysis. (Analysis from January 25, 2024)

Please also note information on the obligation to disclose conflicts of interest in accordance with Directive 2014/57/EU and corresponding EU regulations under the following link.

Stock exchanges for Plug Power shares:

Tradegate share price Plug Power share:
3,124 EUR -2,16% (25.01.2024, 16:24)

NASDAQ share price Plug Power share:
3,504 USD +0,83% (25.01.2024, 16:09)

ISIN Plug Power-Aktie:
US72919P2020

WKN Plug Power-Aktie:
A1JA81

Ticker symbol Plug Power share:
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NASDAQ symbol Plug Power stock:
PLUG

Kurzprofil Plug Power Inc.:

Plug Power Inc. (ISIN: US72919P2020, WKN: A1JA81, Ticker Symbol: PLUN, NASDAQ Symbol: PLUG) is a provider of turnkey hydrogen fuel cell solutions. The Company focuses on proton exchange membrane (PEM), fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies and related infrastructure for the production, storage and delivery of hydrogen and green hydrogen. The company provides end-to-end clean hydrogen and zero-emission fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, the stationary energy market, and more. The company also produces and sells fuel cell products to replace batteries and diesel generators in stationary emergency power applications.

The Company’s products include GenDrive, GenFuel, GenCare, GenSure, GenKey, ProGen and GenFuel Electrolyzers. The Company’s products and services are intended for the North American and European material handling markets and primarily support large to medium-sized fleets and multi-shift operations in high-volume manufacturing and distribution centers. (01/25/2024/ac/a/n)

Disclosure of possible conflicts of interest:

The board of directors and/or employees of aktiencheck.de AG hold a net long position in the shares of the analyzed company. There is therefore a conflict of interest that we would like to expressly point out here.

2024-01-25 15:36:12
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