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Wednesday, May 12, 2021

Reality May Be Setting in for Plug Power Inc (NASDAQ:PLUG)

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Plug Power Inc (NASDAQ:PLUG) took some lumps in August after high expectations. Deal with Amazon and Wal-Mart had talked about the potential but those deals did not appear on the bottom line and PLUG’s shares took a 5.3% dump for the month.

PLUG has a history of falling flat. The stock rocketed upward in 2014, when the first Wal-Mart deal was announced, but since then the co hasn’t been EBITDA positive, much less been able to report net income. Furthermore, and it escapes a lot of news about PLUG, but in order to ink the deals with Amazon and Wal-Mart, PLUG had to offer up 110M in warrants.  Thus, the share count may underestimate the real future dilution if Plug Power reaches any fruition.

Plug Power Inc (NASDAQ:PLUG) trumpets itself as an alternative energy technology provider that engages in the design, development, manufacture, and commercialization of fuel cell systems for the material handling and stationary power market in the United States.

The company focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, and fuel cell/battery hybrid technologies.

Its product line includes GenKey, a turn-key solution for transitioning material handling vehicles to fuel cell power; GenDrive, a hydrogen fueled PEM fuel cell system that provides power to material handling vehicles; GenFuel, a hydrogen fueling delivery system; GenCare, which is an ongoing maintenance program for GenDrive fuel cells and GenFuel products; ReliOn, a stationary fuel cell solution that provides scalable and modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; and GenFund, which offers financing solutions to customers.

The company sells its products to businesses and government agencies through direct product sales force, original equipment manufacturers, and dealer networks. Plug Power Inc. was founded in 1997 and is headquartered in Latham, New York.

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PLUG has been tracking this week– 6% by the afternoon. The company recently announced it was named to the Hydrogen Council. The Hydrogen Council is organized around the important initiative to shape the role of hydrogen in the energy mix of the future.The international council is currently comprised of sixteen members, including Air Liquide, Audi, BMW GROUP, Daimler, Toyota and Royal Dutch Shell. “I’d like to thank the Hydrogen Council for giving Plug Power a seat at the table,” said Andy Marsh.

At this time, carrying a capital value in the market of $523.47M, Plug Power meanwhile has 224.73M in outstanding shares. The company still has some strong cash in the books. Yet, PLUG has a long way to go and investors should be reeling in their enthusiasm from earlier in the year. We will be watching carefully for future news and financials from PLUG. For more updates on Plug Power Inc and other fast-moving penny stocks, please subscribe to below.

Disclosure: We hold no position in $PLUG, either long or short, and we have not been compensated for this article.

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