#PLUG POWER NEWS 2021 FULL#

The falling 200-day line is located at USD 18.63.

Plug Power's stock remains in the overarching downtrend formed since January 2021, currently at USD 21.85. Even though this was still a comfortable USD 1.75 billion as of the end of September 2022, compared to the beginning of the fiscal year, around USD 1.2 billion was again burned. A look at the cash position speaks volumes. A further dilution is likely to occur in 2023 due to the capital-intensive investments if a turnaround does not begin quickly. The market capitalization, on the other hand, grew only 12-fold from EUR 720.18 million to USD 9.08 billion.

Whereas the number of shares at the time of the initial listing at the end of the last millennium was 4.22 million, this has increased as of today to 582.90 million shares by a factor of 138. In contrast, both the stock market value and the number of shares have exploded. Since the all-time high in March 2000, at USD 1,565 adjusted for capital increases and the subsequent bursting of the dot.com bubble, an investment in the fuel cell pioneer has even amounted to a total loss of capital of around 99%. Anyone who takes a closer look at the Company should quickly realize that long-term investors have lost over 90% of their capital since the IPO of the share in November 1999. The reasons for this are likely found in the ingeniously sold marketing strategy and less in the business development. Plug Power is a polarizing force and has been one of the most discussed companies in various communities worldwide for years. Plug Power CEO Andy Marsh is sticking to the 2023 targets of USD 1.4 billion in revenue at a 10% gross margin despite the misses. This quantum leap is in view of the plans for 2024. Breakeven, as a reminder, no quarterly profit in 25 years, is expected to be achieved on quarterly revenue of USD 600 million and a gross margin of 20%. For 2030, the marketing specialist is also going out on a limb with huge revenues of USD 20 billion and a gross margin of 35%. Accordingly, CEO Andy Marsh still expects revenues of USD 1.4 billion at a gross margin of 10% for the current fiscal year 2023, and USD 5 billion at a gross margin of 30% is already forecast for 2026. However, the Company did not lose sales but instead shifted them. The Company's leader cited the delayed launch of new products and their impact on the supply chain as reasons for missing annual targets and a weaker fourth quarter. For earnings per share, most experts expect a minus of USD 1.05. According to Refinitiv, analysts now expect on average revenues of USD 766.82 million, while EBIT is expected to remain clearly in negative territory at minus USD 564.43 million. Only in October of last year were sales targets cut from USD 900 million to USD 925 million to USD 845 million. The Company is very familiar with lowering its ambitious targets. A sales and profit warning was already announced by the management around CEO Andy Marsh on January 25, 2023, on the occasion of a strategy update, but an official press release was sought in vain.

#PLUG POWER NEWS 2021 FULL#

It will be exciting when the hydrogen innovator presents its figures for the fourth quarter and the full year 2022 on February 27.

Plug power news 2021