- PLUG stock is down 52% from 52-week high.
- Russia-Ukraine conflict continues to weight on entire equity market.
- Plug Power reports earnings after the close on Tuesday.
Plug Power (PLUG) opened more than 3% lower at $24.64 on Tuesday about five hours ahead of the hydrogen fuel cell company's fourth quarter earnings call. PLUG stock's 12% spike on Monday seems to have left investors with little additional upside on Tuesday.
Plug Power Stock News: Earnings await
Wall Street expects Plug Power to lose $-0.11 a share on revenue of $157.8 million. These results would be fairly good if achieved. PLUG missed on both earnings and revenue projections in Q3 2021. Still, the company has received just two earnings per share (EPS) revisions in the past 90 days.
Basically, Plug Power has a bad reputation among analysts. The company has missed consensus EPS four out of the past five quarters. It has missed revenue estimates on two quarters over the same period.
The analyst community has retained its full-year 2021 revenue forecast of $498.5 million and and EPS loss of $-0.58.
On the earnings call late on Tuesday, investors will focus on Plug's acquisition of Joule Processing, an equipment provider and liquefaction engineering firm, for up to $160 million. Plug will be using the company's liequefaction process at its hydrogen plant being built in Texas.
Morgan Stanley recently reiterated its outperform rating on the stock and wrote off the 52% drop the stock has seen from its 52-week high. Susquehanna gave the company a positive seal of approval in a recent client note, saying its integrated hydrogen technology "will put it in a favorable position to generate double-digit annual top-line growth over the next decade."
The stock rallied on Monday with most of the renewable sector as observers think Russia's invasion of Ukraine may force Western countries to invest more heavily in wind, hydrogen and solar.
PLUG key statistics
| Market Cap | $13 billion |
| Price/Earnings | N/A |
| Price/Sales | 375 |
| Price/Book | 3 |
| Enterprise Value | $9.5 billion |
| Operating Margin | N/A |
| Profit Margin |
N/A |
| 52-week high | $51.73 |
| 52-week low | $17.51 |
| Short Interest | 12% |
| Average Wall Street Rating and Price Target | Buy, $43.04 |
Plug Power Stock Forecast: $29.59 is clear target
PLUG stock was able to find its footing near $18.30 twice over the past two months. With Monday's 12% boost, the stock has now conquered the $23.75 resistance level. This price level served as resistance in February and also as support several times last fall. Now $29.59 looms ahead. The region surrounding this price consistently served as resistance in August, October and December of 2021. $32.50 is the next target above here.
The Relative Strength Index (RSI) has trended up steadily since the end of January. Now at 57, the RSI appears ready to shoot higher after being kept down for so long. Support sits near the 9 and 21-day moving averages at $23.75. Longer term support remains at $18.30 too.
PLUG 1-day chart
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
Gold hovers around all-time highs near $3,250
Gold is holding steady near the $3,250 mark, fuelled by robust safe-haven demand, trade war concerns, and a softer-than-expected US inflation gauge. The US Dollar keeps trading with heavy losses around three-year lows.
EUR/USD retreats towards 1.1300 as Wall Street shrugs off trade war headlines
The EUR/USD pair retreated further from its recent multi-month peak at 1.1473 and trades around the 1.1300 mark. Wall Street manages to advance ahead of the weekly close, despite escalating tensions between Washington and Beijing and mounting fears of a US recession. Profit-taking ahead of the close also weighs on the pair.
GBP/USD trims gains, recedes to the 1.3050 zone
GBP/USD now gives away part of the earlier advance to fresh highs near 1.3150. Meanwhile, the US Dollar remains offered amid escalating China-US trade tensions, recession fears in the US, and softer-than-expected US Producer Price data.
Bitcoin, Ethereum, Dogecoin and Cardano stabilze – Why crypto is in limbo
Bitcoin, Ethereum, Dogecoin and Cardano stabilize on Friday as crypto market capitalization steadies around $2.69 trillion. Crypto traders are recovering from the swing in token prices and the Monday bloodbath.
Is a recession looming?
Wall Street skyrockets after Trump announces tariff delay. But gains remain limited as Trade War with China continues. Recession odds have eased, but investors remain fearful. The worst may not be over, deeper market wounds still possible.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.