![]() ![]() All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. (PLUG) NasdaqCM - NasdaqCM Real Time Price. Stock - Yahoo Finance Back Try the new and improved charts Plug Power Inc. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. PLUG Interactive Stock Chart Plug Power Inc. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Factset: FactSet Research Systems Inc.2019. If you would like to know where to buy Plug Chain at the current rate, the top cryptocurrency exchanges for trading in Plug Chain. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Plug Power Inc: PLUG: NASDAQ: Common Stock Price Change Change Percent Stock Price Last Traded. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.Most stock quote data provided by BATS. ![]() On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. Ultimately, even if you have high hopes for the future of the hydrogen market, there’s no need to jump into a hasty investment in Plug Power. (PLUG.NASDAQ) : Stock quote, stock chart, quotes, analysis, advice, financials and news for Stock Plug Power Inc. I expect it to become a penny stock, which we can informally define as a stock that trades below $5. Therefore, I’m not optimistic about the near-term future of PLUG stock. In its shareholder letter, Plug Power claimed that it’s “focused on key initiatives to enable revenue growth and path to profitability.” Personally, I can see company’s revenue growth, but Plug Power’s path to profitability is unclear. candlestick chart analysis, stock chart patterns with Fibonacci retracement lines. However, this doesn’t mean that the company is on the right financial path. Plug Power’s loyal shareholders can certainly celebrate the company’s top-line growth. That’s highly disappointing, especially considering Plug Power’s huge revenue intake. However, the company did worse than that, posting a loss of 35 cents per share. Analysts had called for Plug Power to report a first-quarter 2023 earnings loss of 26 cents per share. Significant financial outlays seem to be taking a toll on Plug Power’s bottom line. Going forward, Plug Power’s shareholders should insist that the company’s management establish a specific action plan to cut costs. This bothers me, as I didn’t see much discussion about how Plug Power intends to reduce its expenditures in the company’s quarterly press release and conference call. What about the cost of revenue, though? From the year-earlier quarter to Q1 2023, Plug Power’s cost of revenue jumped 58.77% ($176.153 million to $279.682 million). Plug Power’s Escalating Costs Could Be Problematic for PLUG StockĪs mentioned earlier, Plug Power’s revenue increased 49%, and that’s impressive. Plug Power claims it’s positioned to “achieve significant revenue and continued margin expansion throughout the year.” Yet, it remains to be seen whether Plug Power’s margins can actually improve in 2023. Thus, just because Plug Power is reporting improvement in its sales doesn’t mean the company is converting those sales into strong profits. ![]() Notably, Plug Power’s gross margin declined 8% year over year to -33%. It’s perfectly fine for PLUG stock investors to celebrate the company’s sales acceleration. Still, I’m glad to give credit where it’s due. Having generated $210.29 million in revenue during the quarter, Plug Power beat the analyst consensus estimate, but only by 2.5%. That’s understandable, as Plug Power’s 49% revenue improvement from 2022’s first quarter to Q1 2023 is definitely impressive. In Plug Power’s first-quarter 2023 shareholder letter, the company emphasized its year-over-year top-line growth. Get instant access to the free live Plug Power Inc streaming stock chart. ![]()
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