14.91 0.00 (0.00%)
After hours: 4:00PM EDT
|Bid||14.81 x 900|
|Ask||14.91 x 1000|
|Day's Range||14.88 - 14.92|
|52 Week Range||3.80 - 16.50|
|Beta (3Y Monthly)||0.26|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||15.07|
Plug Power (NASDAQ:PLUG) stock has performed well year-to-date. The hydrogen fuel cell company has seen its shares soar from $1.24 in January to $2.30 today. Despite the company's many issues (no profitability, dilutive capital structure), investors have high expectations for the company's future prospects.Source: Shutterstock But is PLUG stock a buy?Plug Power talks a good game, but has yet to show tangible results. The company's hype could burn investors if actual results fail to meet expectations.InvestorPlace - Stock Market News, Stock Advice & Trading Tips High Expectations for Q2According to their June 26, 2019 press release, Plug Power is "on pace for the largest second quarter in company history." Plug Power states that fuel cell deployments are set to increase "70% from the second year prior quarter." Sales are "on target to meet full year guidance of $235 to $245 million in gross billings," with "positive adjusted EBITDA" for 2019. * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip This is in stark contrast to results from last quarter. In Q1 2019, gross billings were only $22.8 million. Operating cash flows were at $36.3 million. Inventory was up year over year (YoY) from $47.9 million to $65.5 million.The company claims Q1 results are the product of "end of quarter project timing around revenue recognition." Plug Power also notes the seasonality of their business, with two-thirds of sales occurring in the second half of the year.The company's hype of earnings more than a month prior to their release (early August) is a red flag. Speculation, not tangible results, is the current driver of the PLUG stock price. PLUG Stock Investors Have Bought the HypeThe key catalyst for the stock is new product development. Investors have bid up the PLUG stock price, expecting these new innovations to move the needle.Prior to the company's launch of ProGen, the company focused on the materials-handling business. Plug Power's GenDrive line of products provide fuel cells to power forklifts.But with the launch of the ProGen line, investors expect Plug Power to enter an even bigger market: delivery trucks. Plug Power has inked a deal with European electric vehicle maker StreetScooter to provide fuel cell engines for 100 of their vehicles.There's an even bigger potential catalyst that could move the PLUG stock price. There is some speculation that Plug Power could win big if Amazon (NASDAQ:AMZN) decides to purchase ProGen fuel cell engines in conjunction with bringing logistics in-house.As Plug Power's second-largest customer, Amazon already has an involvement with Plug Power. In 2017, Amazon received warrants to buy up to 55.28 million shares of Plug Power stock, in conjunction with Amazon's purchase of GenDrive products for their warehouse operations.But does this equal future Amazon involvement? With the warrants, Amazon has a clear financial incentive to buy fuel cells from Plug Power. But with announced deal, the Amazon rumors remain speculation. Valuation: PLUG Is in Line With PeersPlug Power's main publicly-traded competitors are Ballard Power Systems (NASDAQ:BLDP), and Hydrogenics Corporation (NASDAQ:HYGS). Neither Plug Power nor its competitors generate net earnings, so other sales metrics are needed to do a comparison.Looking at the enterprise value to sales metric (EV/sales), PLUG appears to be fairly valued. The TTM EV/sales ratio for PLUG is 4.82, lower than both BLDP (8.98) and HYGS (8.07).Unlike its competitors, PLUG has shown YoY sales growth (about 50%). BLDP and HYGS have seen sales declines of 22% and 28.8%, respectively. Plug's Capital Structure Could Lead to Shareholder DilutionAccording to Plug Power's last 10-Q filing, the company had 245.4 million outstanding shares. But add in 21.1 million outstanding stock options, 2.37 million restricted shares, 115.8 million warrants, preferred stock convertible into 17.9 million shares, and senior notes convertible into 43.63 million shares, and the number of "dilutive potential common shares" is 200.87 million. This increases share count by about 82%.If Plug Power reaches profitability, the dilutive capital structure minimizes potential upside. Investors should keep this in mind before buying PLUG stock. Bottom Line: Plug Stock More Hype Than OpportunityFuel cell technology will likely remain a niche product, but may gain heavy market share in delivery fleets. This trend could add fuel to the PLUG stock price.Plug Power is moving in the right direction by targeting the electric delivery vehicle market, but needs capital to turn this strategy into profits. The company's capital structure is already potentially dilutive. Future capital infusions could further reduce potential upside for PLUG common stock holders.Investors have bid up Plug Power stock on high growth expectations. But with lack of tangible performance results until August, Plug Power is not a buy today.On the other hand, investors should be cautious trading around Plug Power stock. Given the company's small size (market cap of $569 million), any crumb of "good news" could send PLUG stock price higher.It's tough to "predict the unpredictable." With Plug Power, there are too many questions, and not enough answers.As of this writing, Thomas Niel did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip * 7 Services Stocks to Buy for the Rest of 2019 * 6 Stocks to Buy and 1 to Sell Based on Insider Trading The post Don't Believe the Hype Powering PLUG Stock Price appeared first on InvestorPlace.
Cummins Inc. (NYSE: CMI) announced that its board of directors has approved a 15 percent increase to its normal quarterly cash dividend. "We have raised our quarterly dividend in each of the last 10 years, resulting in a 649 percent increase since 2009. The consistent increase in our dividend, through economic cycles, reflects confidence in our long-term performance and reinforces our commitment to delivering strong returns to shareholders," said Tom Linebarger, Chairman and Chief Executive Officer.
NEW YORK, July 01, 2019 -- The following statement is being issued by Levi & Korsinsky, LLP: Levi & Korsinsky, LLP announces that investigations have commenced on.
NEW YORK, June 28, 2019 -- Bragar Eagel & Squire, P.C. is investigating potential claims against the board of directors of Hydrogenics Corporation (NASDAQ: HYGS) on behalf.
PARIS , June 28, 2019 /CNW Telbec/ - The Hydrogen Company ("H2C"), a corporation formed and existing under the laws of France and an indirect wholly-owned subsidiary of L'Air Liquide S.A. ("Air Liquide"), is pleased to announce that it entered today into a Funding and Investment Agreement (the "Funding and Investment Agreement") with Cummins Inc. ("Cummins") to acquire Hydrogenics Corporation (NASDAQ: HYGS) (HYG.TO) ("Hydrogenics" or the "Corporation").
NEW YORK, June 28, 2019 -- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Hydrogenics Corporation.
NEW YORK, June 28, 2019 -- Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Hydrogenics Corporation (NASDAQ: HYGS) to Cummins Inc..
Cummins Inc. (CMI) today announced that it has entered into a definitive agreement to acquire, through a wholly-owned subsidiary, all the issued and outstanding shares of fuel cell systems provider Hydrogenics Corporation (NASDAQ: HYGS: TSX: HYG) for US$15.00 per share in cash, other than shares already owned by The Hydrogen Company, representing an enterprise value of approximately $290 million. Following the unanimous recommendation of the special committee of Hydrogenics Board of Directors, all non-interested directors of Hydrogenics have unanimously approved the transaction and recommends that Hydrogenics shareholders vote in favor of the transaction.
TSX: HYG) (the “Company” or “Hydrogenics”), a leading developer and manufacturer of hydrogen fuel cell modules and hydrogen generation equipment, announced today that it has entered into an arrangement agreement (the “Arrangement Agreement”) with Cummins Inc. (“Cummins”) and Atlantis AcquisitionCo Canada Corporation (the “Purchaser”), pursuant to which the Purchaser, a subsidiary of Cummins Inc., has agreed to acquire all of the outstanding common shares of the Company (the “Shares”), other than Shares owned by The Hydrogen Company, a wholly owned subsidiary of L’Air Liquide S.A. (“Air Liquide”), for US$15.00 in cash per Share (the “Transaction”). The Hydrogen Company has agreed to exchange its Shares for shares of the Purchaser pursuant to the Transaction.
Hydrogenics Corporation's (NASDAQ:HYGS): Hydrogenics Corporation, together with its subsidiaries, designs, develops...
MISSISSAUGA, Ontario, May 20, 2019 -- Hydrogenics Corporation (NASDAQ: HYGS; TSX: HYG) (“Hydrogenics” or “the Company”), a leading developer and manufacturer of hydrogen.
MISSISSAUGA, Ontario, May 16, 2019 -- Hydrogenics Corporation (NASDAQ: HYGS; TSX: HYG) ("Hydrogenics" or "the Company"), a leading developer and manufacturer of hydrogen.
Hydrogenics (HYGS) delivered earnings and revenue surprises of -15.38% and -15.35%, respectively, for the quarter ended March 2019. Do the numbers hold clues to what lies ahead for the stock?
On a per-share basis, the Mississauga, Ontario-based company said it had a loss of 15 cents. The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment ...
MISSISSAUGA, Ontario, May 14, 2019 -- Hydrogenics Corporation (NASDAQ: HYGS; TSX: HYG) ("Hydrogenics" or "the Company"), a leading developer and manufacturer of hydrogen.
Hydrogenics (NASDAQ: HYGS ) releases its next round of earnings this Tuesday, May 14. Here's Benzinga's essential guide to Hydrogenics first-quarter earnings report. Earnings and Revenue Analysts covering ...
Hydrogenics (HYGS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
MISSISSAUGA, Ontario, May 01, 2019 -- Mississauga, Ontario – May 1, 2019 – Hydrogenics Corporation (NASDAQ: HYGS; TSX: HYG) (“Hydrogenics” or “the Company”), a leading.
Anyone researching Hydrogenics Corporation (NASDAQ:HYGS) might want to consider the historical volatility of the share price. Modern finance theory considers volatility to be a measure of risk, and there are two main types of price...
TSX: HYG) (“Hydrogenics” or “the Company”), a leading developer and manufacturer of hydrogen generation, fueling equipment and hydrogen-based fuel cell power modules, today announced that it has entered into an agreement with Halcyon Power – a joint venture of New Zealand-based Tuaropaki Trust and Obayashi Corporation of Japan – to supply a carbon-free hydrogen production facility in New Zealand. The 1.5 megawatt hydrogen production project is scheduled to be in operation by 2020 and will be a valuable asset supporting joint research and development initiatives by Tuaropaki Trust and Obayashi Corporation, which are working towards implementing a hydrogen supply chain for New Zealand and Japan.
The Mississauga, Ontario-based company said it had a loss of 20 cents per share. The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research ...