![]() ![]() And if Plug Power as a business performs well, the stock will surely follow. These will undoubtedly expand the group’s reach, which could translate into greater market share capture. Needless to say, if this milestone is hit, profitability might soon enter the picture.Īside from that, management announced multiple partnerships and strategic acquisitions in 2021. And analyst forecasts expect the group to generate $900m-$925m in revenue in 2022, reaching as high as $3bn by 2025. In the past year, Plug Power won several projects worldwide, including a 250MW order from Fortescue. In 2021 it generated $502m in revenue – $162m of which came from the fourth quarter alone.įurthermore, the group launched a Gigafactory in Rochester, New York, to help solidify its position in the alternative energy market. The company recently reported the largest quarterly and annual revenue in its history. This hydrogen stock has managed to increase its revenue over the years – a trend that I believe will continue moving forward. Plug Power Stock: What do the numbers say? That being said, do the financials suggest that Plug Power is a good stock to buy? These products are provided worldwide through direct product sales and leveraging relationships with original equipment manufacturers (OEM) and their dealer networks. ![]() GenSure, GenKey, ProGen, and GenFuel Electrolysers.GenFuel – a liquid hydrogen fueling delivery, generation, storage and dispensing system.GenDrive – a hydrogen-fueled PEM fuel cell system.Looking at its product portfolio, the group currently has: This is amidst an ongoing paradigm shift in the power, energy and transportation industries to address climate change and energy security, while meeting sustainability goals. The company’s innovative technology powers electric motors with hydrogen fuel cells. These are predominantly used for material handling and stationary power markets. It provides alternative energy technologies by focusing on designing, developing, manufacturing, and commercialising hydrogen and fuel cell systems. Plug Power was founded in June 1997 with Headquarters in Latham, New York. With that said, let’s dive in to see or remind ourselves of what this business actually does. So, does that mean I should buy or sell Plug Power stock today? One thing which I do is to invest only in companies I understand. But compared to where it was in November 2021, the business has taken quite a tumble. By comparison, the S&P 500 index is down 7.8% in the same period. The company reports the largest quarterly and annual revenue in its history.Īs I write, the Plug Power (NASDAQ:PLUG) stock is down about 8% year to date.Plug won multiple projects around the world.Plug Power launched a Gigafactory in Rochester, New York. ![]()
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