Plug Power Inc. (NASDAQ:PLUG) is an American company, headquartered in Latham, NY. It provides alternative energy technology that focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems. These systems are mainly used for the material handling and stationary power markets.
$PLUG stock price analysis
In one week of time-frame, PLUG stock noted the decline of almost 10% in its share price. Also it is down by 14% from last month. Meanwhile, its year to date analysis is bullish with an increase of around 15% in its share price.
In its last day of trading $PLUG traded at $14.65 and marked the upsurge of 0.76%. It must be noted that Plug Power will release its Q4 2022 results on March 1st after market closing. So if the earnings are splendid then a good price movement can be expected from $PLUG share.
The current $PLUG market cap is $8.475 Billion. And its earnings for the last quarter are -$0.30 whereas the estimation was -$0.24 which accounts for -25.25% surprise. Plug Power revenue for the same period amounts to 188.63 Million despite the estimated figure of $243.14 Million. Estimated earnings for the next quarter are -$0.25, and revenue is expected to reach $279.91 Million. The net income of Q3 2022 is -$170.76 Million.
Plug Power has a dull earnings surprise history. The high commodity costs are because of inflationary pressure, and costs associated with supply-chain issues. The procurement, manufacturing costs and fuel costs are likely to have weighed on the fourth-quarter performance of Plug Power, according to Yahoo Finance.
Additionally, the acquisitions of Applied Cryo (November 2021), Frames Holding (December 2021), and Joule Processing (January 2022) are expected to leave a positive impact on the performance of Plug Power. Here, the advantages from these acquisitions may be reflected in revenues from sales of fuel cell systems, and similar infrastructure and equipment.
Moreover, the consensus mark for revenues from fuel delivered to customers and related equipment points over 100% upsurge from the third-quarter 2022 reported figure.
According to The Bank of America (NYSE:BAC), the hydrogen economy could potentially increase to be an $11 Trillion market by 2050. And this huge expectation in this industry is mainly driven by energy and transportation.
Besides $PLUG, Bloom Energy (NYSE:BE), Air Products (NYSE:APD), and Ballard Power Systems (NASDAQ:BLDP) are top hydrogen stocks to watch this year.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/02/24/will-the-upcoming-earnings-of-plug-stock-follow-bullish-trend/