4.2900 +0.01 (0.23%)
After hours: 4:35PM EDT
|Bid||4.2800 x 28000|
|Ask||4.2900 x 42300|
|Day's Range||4.1100 - 4.3400|
|52 Week Range||1.8600 - 6.0500|
|Beta (5Y Monthly)||1.22|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 04, 2020 - Aug 10, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||6.06|
Hydrogen fuel cells are hot again. Shares of fuel cell generator manufacturer Bloom Energy (NYSE: BE) are up 7.5% for the year, while fuel cell vehicle specialist Plug Power's (NASDAQ: PLUG) shares are up 29.1%. Let's take a closer look at these alternative energy companies and see which one looks like the better buy right now.
Plug Power (NASDAQ: PLUG) has been on a volatile path in the market for more than a decade. Since 2014, the company has also been on a high-potential path as big customers like Amazon.com and Walmart expand their use of hydrogen power for forklifts in warehouses. The chart below tells you a lot about Plug Power's operations over the past decade.
Plug Power Inc. (“Plug Power”) (PLUG) today announced the pricing of $200.0 million aggregate principal amount of 3.75% Convertible Senior Notes due 2025 (the “notes”) in a private offering (the “offering”) to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Plug Power also granted the initial purchasers of the notes a 13-day option to purchase up to an additional $30.0 million aggregate principal amount of the notes. The sale of the notes to the initial purchasers is expected to close on May 18, 2020, subject to customary closing conditions, and is expected to result in approximately $193.4 million (or approximately $222.5 million if the initial purchasers exercise their option to purchase additional notes in full) in net proceeds to Plug Power after deducting the initial purchasers’ discount and estimated offering expenses payable by Plug Power.
Plug Power Inc. said Wednesday it is offering $200 million in convertible senior notes that mature in 2025 in a private offering. Proceeds of the deal will be used to fund capped call transactions that seek to minimize dilution once the bonds convert into stock, and for "eligible green projects," the maker of hydrogen and fuel-cell technology said in a statement. The notes will be convertible into cash, common stock or a combination, at Plug Power's discretion. Shares fell 1.8% premarket but have gained 38% in the year to date, outperforming the S&P 500 , which has fallen 11%.
Plug Power Inc. (PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, is pleased to launch the first ever convertible green bond offering in the US. This capital raise positions us well to execute on our hydrogen vertical integration strategy and we are very pleased to be able to target investors with ESG mandates. “Plug Power is committed to having over 50% of hydrogen to be green by 2024 and providing customers with a cost-effective supply of low and zero carbon hydrogen,” said Andy Marsh, CEO of Plug Power.
Plug Power Inc. (“Plug Power”) (PLUG) today announced its intention to offer, subject to market conditions and other factors, $200 million aggregate principal amount of Convertible Senior Notes due 2025 (the “notes”) in a private offering (the “offering”) to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Plug Power also expects to grant the initial purchasers of the notes a 13-day option to purchase up to an additional $30 million aggregate principal amount of the notes. The notes will be senior, unsecured obligations of Plug Power, and interest will be payable semi-annually in arrears.
There are high hopes for the renewable energy sector, one on which Plug Power (PLUG) is attempting to leave its mark.Yet, the hydrogen fuel cells specialist delivered mixed Q120 earnings results last week. On the plus side, PLUG brought in a record number of gross billings which totaled $43 million and exhibited year-over year growth of 89%. At the other end of the scale, the company missed on the bottom line, posting Q1 GAAP EPS of -$0.12 - $0.02 below the estimates.The company has set an ambitious 2020 goal for gross billings to reach over $300 million, one which B Riley analyst Christopher Van Horn believes “could see some volatility due to recent events around COVID-19.”However, Plug Power’s long-term goal is one which Van Horn can get behind. The analyst said, “We remain confident that the company can achieve their 2024 target of $1B in gross billings and $200M in adjusted EBITDA. New award activity was robust in 2019 and into 2020 and we believe there is strengthening demand for its technology in core material handling markets, as well as lateral opportunities in on-road applications.”Van Horn believes there will be more awards from “various end markets,” throughout 2H20 and maintains PLUG has a strong pipeline. But the analyst is most excited by an announcement made during the earnings call. Plug Power has set its sight on two new acquisitions which should “drive both revenue and margin growth to help meet 2024 goals.”The first concerns the purchase of United Hydrogen, which will boost the company’s hydrogen generation and distribution potential. The second concerns an intention to acquire an electrolyzer company which could provide Plug Power with access to electrolyzer products ranging from 100kw to more than 1MW. Plug Power management expects to close both deals by the end of the second quarter.To this end, Van Horn reiterates a Buy rating on PLUG shares along with a $6 price target, which implies a solid upside of nearly 40%. (To watch Van Horn’s track record, click here)Most of the Street agrees with Van Horn. The analyst consensus rates PLUG a Strong Buy, based on 5 Buys and a single Hold. There’s upside of 42%, should the $6.13 average price target be met over the next 12 months. (See Plug Power stock analysis on TipRanks)Read more: * 3 Stocks Needham’s Top Analysts Are Raving About * Wells Fargo: 2 Big 16% Dividend Stocks to Buy (And 1 to Avoid) * 3 “Strong Buy” Penny Stocks with Massive Upside Ahead More recent articles from Smarter Analyst: * Microsoft Launches Cloud-Based Platform For Healthcare Organizations * Cisco’s Results Disappoint, Revealing a Challenging April * Aldeyra Explodes 30% After-Hours Ahead Of Covid-19 Update Today * Luckin Coffee Will Resume Trading Today
Shareholders of Plug Power Inc. (NASDAQ:PLUG) will be pleased this week, given that the stock price is up 11% to...
Image source: The Motley Fool. Plug Power Inc (NASDAQ: PLUG)Q1 2020 Earnings CallMay 7, 2020, 1:00 p.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorGreetings and welcome to the Plug Power First Quarter 2020 Earnings Conference call.
Plug Power (PLUG) delivered earnings and revenue surprises of -20.00% and 23.05%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Plug Power Inc. (PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, and Generate Capital have agreed to increase its term loan facility and reduce the interest rate. The term facility will be increased by $100M and the interest rate will be reduced to 9.5% from 12% for the entire facility. Plug Power has drawn an incremental $50M, and an additional $50M of borrowing capacity is available to be drawn based on mutual agreement.
Plug Power Inc. (PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, is pursuing transactions to acquire United Hydrogen Group Inc. and an electrolyzer technology platform company. Both acquisitions are in line with Plug Power’s overall green hydrogen business strategy to have over 50% of hydrogen be green by 2024 and, if successfully completed, are expected to enhance Plug Power’s capabilities in hydrogen generation, liquefaction and logistics business. Plug Power is in advanced negotiations to acquire United Hydrogen.
LATHAM, N.Y., May 07, 2020 -- Plug Power Inc. (NASDAQ:PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, has announced today its 2020.
LATHAM, N.Y., May 06, 2020 -- Plug Power Inc. (NASDAQ:PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, has announced its CEO, Andy.
Plug Power's (PLUG) Q1 results are expected to reflect gains from growing popularity of fuel-cell engines and partnership. Supply-chain disruptions, high costs and forex woes might have been dragging.
Plug Power (PLUG) 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.
Plug Power Inc. (PLUG), the leading company building the clean hydrogen economy, has helped international food business, ARYZTA, streamline its logistics with hydrogen fuel cells since 2016. The implementation of fuel cell technology has driven a tremendous increase in fleet productivity for the leader in the frozen B2B bakery industry. Plug Power’s fuel cells increased ARYZTA’s average picks-per-hour by 100% in 2018, trending to a 133% increase in 2020.
LATHAM, N.Y., April 29, 2020 -- Plug Power Inc. (NASDAQ:PLUG), a leading provider of zero emission hydrogen engines and fueling solutions enabling e-mobility, will announce.
Are you ready to find some deals in the stock markets? The S&P 500 skyrocketed 7% yesterday, marking a strong trading session in what appears to be a true rally. Judging by the market charts, it looks like stocks bottomed out on March 23.Bob Doll, chief equity strategist at Nuveen, noted, "The stock market will bottom before the economy does, The stock market may have bottomed at 2,192 on the S&P."It’s a situation that gives investors an incentive to buy. We’re not in a true bull market – not by a long shot – but the recent bear has pushed prices down and the current rally is opening up the prospects of gains. All that remains is finding the right stocks to buy.And this brings us to penny stocks. After seeing heavy losses in March, investors are short of cash. Penny stocks are the natural fit; priced below $5, they offer an easy point of entry.Sure, there could be a very good reason these tickers are so affordable, but should there be even minor share price appreciation, massive percentage gains could materialize, along with hefty profits for investors.We’ve dipped into the TipRanks database, and found three penny stocks with Strong Buy consensus ratings and better than 50% upside potential over the next 12 months. Let's take a closer look.Zix Corporation (ZIXI)We start in the tech sector, where Zix, a small-cap cybersecurity company specializes in providing safety for emails. Zix’s products allow data encryption and loss prevention for mobile applications. The company boasts over 20,000 customers, and a cloud app that is used by 30% of US banks.ZIXI shares ended 2019 on a mixed note, but a solid product and strong yoy growth were the main story. Company earnings and revenue both missed the forecasts, although did better year-over-year. EPS, at 9 cents, matched the year-ago quarter, while the top line revenue of $50.4 million was significantly higher than 4Q18’s $18.5 million.Zix’s product is popular, and that underlies the review by Northland Securities analyst Nehal Chokshi. He writes, “ZIXI already has ~22% market share. We view this as an ideal market share as it demonstrates the company has an established selling motion, but has significant opportunity to drive share gains within what should be a fast-growing market…”Chokshi reiterates his Buy rating on the stock, and his $8 price target implies an impressive 100% upside potential. (To watch Chokshi’s track record, click here)Craig-Hallum’s Chad Bennett agrees that Zix is a buying proposition. He specifically points out the company’s ability to withstand the current recessionary forces unleashed by the COVID-19 pandemic. Bennett says of the stock, “Ultimately, we believe the company can be resilient in a recessionary environment. Email and security are mission-critical to a business’s operations… ZIXI’s contracts are on one- to three-year terms, so assuming a two-year average contract length, only 1/8 of ZIXI’s customers are up for renewal each quarter. We believe that the ZIXI-side of the business will be resilient in the current environment…”Bennett gives ZIXI shares a $9 price target, indicating a 125% upside, fully supporting his Buy rating. (To watch Bennett’s track record, click here)All in all, Zix supports its Strong Buy analyst consensus rating with a unanimous 4 Buy reviews. Shares are priced low, at just $4.01, and the $10.25 average price target suggests room for a hefty 155% upside potential in the coming 12 months. (See Zix stock analysis on TipRanks)Plug Power, Inc. (PLUG)With our next stock, we move into the arena of reusable energy. Plug Power is a designer and manufacturer of hydrogen fuel cells, a technology with the potential to replace conventional batteries – giving it a certain allure in the alt-fuel automotive sector. The biggest advantage of hydrogen fuel cells over batteries is the ability to run at a constant power output, avoiding the power drop that batteries experience when their charge runs low.Plug Power boasts an agreement with the USPS, and provides power cells for a fleet of electric mail delivery vehicles in Maryland. Earlier this year, Plug introduced a 125-kilowatt engine for trucks and off-road heavy-duty equipment.Plug Power is on track to achieve its goal of $1 billion in revenue by 2024, and has provided guidance toward $300 million in billings for the current year. Plug boasts a heavy order load, and needs to meet a 90% order backlog, based on new orders from established customers.In line with the company’s busy year ahead, H.C. Wainwright, analyst Amit Dayal put a Buy rating on the stock and raised his price target to $6.00 (from $4.00). His new target implies an upside of 63%. (To watch Dayal’s track record, click here)Dayal commented: “We are updating our outlook for the company and have revised our estimates upwards. With respect to 2024 outlook, we remain relatively conservative in projecting net revenues of $759.0M vs. management’s goal of $1.0B in gross billings. In line with this, we have revised our operating expense estimates for 2020 to $84.2M, compared to $76.7M previously. With this level of topline execution, and higher insourcing of MEAs contributing to margin improvements, we believe the company should start demonstrating consistent EBITDA improvements over the next few years."Also bullish is 5-star Oppenheimer analyst Colin Rusch. Rusch sees Plug as an advancing technology, with a handle on the technical issues it needs to resolve, and says of the company, “We believe PLUG continues to progress on its technology roadmap, which targets 25% cost reduction, 50% increase in MEA durability, and 25% improved power density by 2023/2024. We believe these efforts will help expand its addressable market opportunity…” Rusch’s Buy rating, like Dayal’s, is backed by a $6 price target. (To watch Rusch’s track record, click here)Overall, the hydrogen fuel-cell maker is without question a Wall Street favorite, considering TipRanks analytics indicate Plug Power as a Strong Buy. Out of 7 analysts tracked in the last 3 months, 6 are bullish on Plug stock while only 1 remains sidelined. With a return potential of 51%, the stock's consensus target price stands at $5.57 (See Plug Power stock analysis on TipRanks)Orbcomm, Inc. (ORBC)Our final stock today, Orbcomm, is a wireless messaging company with a network of 31 satellites along with ground-based infrastructure. Customers can communicate, control, monitor, and track linked fixed and mobile assets worldwide. The company’s network is deeply connected to the Internet of Things and machine-to-machine niches, and Orbcomm boasts over 2 million billable subscribers. The service is available in 130 countries.ORBC reported a loss of 3 cents per share in Q4, which actually beat the estimated 5-cent loss by 40%. Revenues, at $69.7 million, came in just under the forecast, but grew 5% year-over-year. Orbcomm had the bad timing to release this quarterly report just a week after the bottom fell out of the market in February; the stock has lost 50% so far this year, badly underperforming the overall markets.That said, Orbcomm still presents investors with growing revenues – and now, a very low point of entry to the stock. In addition, many of ORBC’s customers are in the grocery sector, where accurate tracking of delivery vehicles is essential, giving the company a valuable niche in an essential sector – a clear advantage when much of the economy is shut down in an attempt to mitigate the spread of the coronavirus epidemic.Michael Latimore, 4-star analyst with Northland Securities, notes another important factor in Orbcomm’s position -- the company’s solid foundation of parts and supplies. Latimore writes, “ORBC has enough inventory to last four months. Most of its manufacturing is done in Mexico and Germany. These plants could shut down for 1-3 months, but so far so good. China seems to be getting back to work, which helps with standard components like wired cables.”Latimore sets a $6 price target on this stock, implying a fantastic upside of 185%, and gives ORBC a Buy rating. (To watch Latimore’s track record, click here)Overall, a unanimous 3 Buy ratings give Orbcomm a Strong Buy from the analyst consensus. The stock has an average price target of $7.17, which suggests a massive 241% potential upside from the current share price of just $2.10. (See Orbcomm stock analysis on TipRanks)
In the recent past, Plug Power (NASDAQ:PLUG) has seen significant volatility. After touching a 52-week high of $6.05 in the third week of February, PLUG stock declined by 54% to $2.76.Source: Shutterstock This decline was triggered by the company's 40 million share offering at $2.75. Subsequently, the stock has moved higher by 46% and currently trades at $4.03. The sharp rally after the equity dilution has been due to the company's optimistic growth target. While the management sounds bullish, I remain skeptical.Before I discuss my views, I want to talk about a December 2019 report on PLUG stock by Spruce Point Capital Management. The report has an ultra-bearish view on the stock with management credibility, capital structure deteriorating and lack of institutional investors' interest being key negatives.InvestorPlace - Stock Market News, Stock Advice & Trading TipsI do agree with the concerns and I see PLUG stock as a good trading stock than a portfolio stock. Management Target Seems UnrealisticFor the fiscal year ended 2019, Plug Power reported total revenue of $230.2 million. Further, for the current year, the management believes that revenue is likely to be higher by 25% at $300 million. * 10 Stocks to Buy That Will Benefit From Coronavirus Mayhem The key concern is the company's guidance of $1.0 billion in revenue by FY2024. From $300 million in the current year, revenue growth has to be at a CAGR of 35.1% to achieve the target.Achieving this target seems difficult considering the following factors -The company's total backlog as of FY2019 looks robust at $797.4 million, but the backlog will be executed over a period of 90 days to 10 years. Clearly, the backlog needs to be ramped-up significantly if the revenue target has to be met.In the last financial year, PlugPower witnessed backlog growth of $257.4 million (net of order executions). This is not enough to convince the markets on potential revenue of $1 billion in the next five years.It's worth noting that for FY2018, Plug Power reported restricted cash of $71.6 million. Over the next 12 months, the restricted cash swelled to $230.0 million. The reason is vendor financing.For the last year, Plug Power reported revenue of $230.2 million and restricted cash increased by $158.5 million. Therefore, there is a significant dependence on vendor financing driven revenue growth. This is not sustainable in the long-term. It remains to be seen how the company can drive growth without the dependence on vendor financing.The scalability of the company's business model is still doubtful. The key reason is that hydrogen fuel cells are expensive. An adoption, similarly to electric cars, is only possible if the cost declines and the fuel cell infrastructure is ramped-up. Leverage and Equity DilutionTowards the end of FY2019, Plug Power offered 40 million shares at a price of $2.75. This translated into total secondary offering proceeds of $110 million.Besides the equity dilution, in the last financial year, the company's total debt and finance obligations was $377.4 million. On a year-on-year basis, the total debt financial liabilities increased by $242.4 million.The point I am making here is that there is an increase in sources of funding, but that has not translated into strong growth. Further, factors like vendor financing to trigger revenue growth is concerning.I want to add that the company also has $110 million in convertible senior notes in the balance sheet as of FY2019. This implies further dilution of equity in the coming years.To add to the worries, Plug Power reported cash used in operations of $51.5 million for the last year. The company's cash flow from operations has consistently been negative with no guidance on the time-line for positive cash flows. As cash burn continues PLUG stock is unattractive. My Concluding Views on PLUG StockConsidering the volatility in PLUG stock in the last few months, traders can consider exposure for short-term gains. However, there are too many uncertainties to consider the stock for the portfolio.In particular, the company's growth target seems unrealistic and there are significant credit metrics worsening. Moreover, the prospect of further equity dilution due to sustained cash burn is also likely to keep investors away from PLUG stock.With uncertain economic conditions due to the COVID-19 pandemic, it makes sense to be invested in stocks with strong fundamentals. From this perspective as well, PLUG stock can be avoided.Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock-specific articles with a focus on the technology, energy and commodities sector. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * America's Richest ZIP Code Holds Wealth Gap Secret * 10 Stocks to Buy That Will Benefit From Coronavirus Mayhem * 5 Bank Stocks to Buy Now Because This Isn't 2008 Again * 12 Stocks to Buy That Are Already Positive The post With Mediocre Fundamentals and a Financing Problem, Avoid PLUG Stock appeared first on InvestorPlace.