Aside from a blip when its share price was over $1,000 in the year 2,000, its stock has mostly traded for $100 or less. So it has a lot more history in the stock market than most of the startups developing renewable energy solutions. The first thing to note is that Plug Power has been public since 1999. Department of Energy has been funding Plug Power, the state of New York and Silicon Valley Bank. This includes a $62 million investment by Universal Hydrogen. It has also shored up its cash reserves substantially, raising a total of $5.4 billion in 36 rounds of funding. However, it has a posting of 165% in profits in Q4 2020. And as mentioned, it hasn’t turned a profit consistently. Plug Power stock is generally considered overvalued at this juncture. It has also missed its earnings per share (EPS) projection by a wide margin, with EPS 129.5% lower than projected. It has missed its revenue projection slightly, by 0.62%. To go with that, it had revenue of $144 million and a net income of -$106.67 million. Its most recent quarter, Q3 2021, shows a net profit margin of -74%. Quarterly EarningsĪs with most companies in emerging industries, Plug Power stock struggles to maintain a consistent profit. However, we must look at the numbers to determine whether Plug Power stock is a smart investment. But Plug Power’s ProGen engines integrate fuel cells to eliminate the need to burn fossil fuels. Long-haul trucks typically rely on diesel fuel. This has implications both in manufacturing and commercial trucking. In other words, it not only reduces emissions but can help eliminate harmful chemicals that are traditionally used in batteries. It replaces all of the elements normally powering a customer’s operation, replacing the lead-acid batteries typically used in the past. Its GenKey solution increases productivity while lowering carbon footprints. It also has 25 years of innovation under its belt. Plug Power says it already has more than 40,000 fuel cell units deployed. But Plug Power uses clean electricity sources such as solar and wind. Instead of using natural gas or coal, the company is producing it with a process called water electrolysis. The company focuses on producing clean hydrogen in order to address the dirty history of hydrogen production. Plug Power (Nasdaq: PLUG) is a company with headquarters in Latham, New York. We’ll take a look at how Plug Power stock is doing and whether it’s really worth investing at this stage. But as with any emerging industry, there is always a caveat, or more. So this would appear to be a good bet for the future. Plug Power is a pioneer in green hydrogen technology. And given the concerns about global emissions, hydrogen can be the solution to cut back on or eliminate emissions in both areas. Likewise, manufacturing plants often rely on the burning of fossil fuels in their processes. This is a problem for commercial vehicles. While electric vehicles are widely considered the next big thing in consumer passenger vehicles, battery packs are very heavy. Plug Power stock is one of the companies working to remove emissions from hydrogen production completely.ĬO2 emissions is an issue both for manufacturing facilities and for vehicles. However, while hydrogen vehicles only emit water vapor, fossil fuels are often burned in the process of producing hydrogen. Hydrogen is seen as a potential solution. And global emissions have been on the rise. Climate change is a persistent theme in many discussions this decade.
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