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Upturn AI SWOT - About
PLUG 
Plug Power Inc (PLUG)
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Upturn Advisory Summary
03/24/2025: PLUG (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
AI Based Fundamental Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type Stock | Historic Profit -61.75% | Avg. Invested days 23 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  1.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 03/24/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.27B USD | Price to earnings Ratio - | 1Y Target Price 2.25 |
Price to earnings Ratio - | 1Y Target Price 2.25 | ||
Volume (30-day avg) 61654353 | Beta 1.98 | 52 Weeks Range 1.26 - 4.90 | Updated Date 04/1/2025 |
52 Weeks Range 1.26 - 4.90 | Updated Date 04/1/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -2.68 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-03-04 | When Before Market | Estimate -0.2314 | Actual -0.4086 |
Profitability
Profit Margin - | Operating Margin (TTM) -212.85% |
Management Effectiveness
Return on Assets (TTM) -16.41% | Return on Equity (TTM) -89.46% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 2184708418 | Price to Sales(TTM) 2.02 |
Enterprise Value 2184708418 | Price to Sales(TTM) 2.02 | ||
Enterprise Value to Revenue 3.47 | Enterprise Value to EBITDA -2.23 | Shares Outstanding 971678016 | Shares Floating 800963678 |
Shares Outstanding 971678016 | Shares Floating 800963678 | ||
Percent Insiders 6.4 | Percent Institutions 49.61 |
Analyst Ratings
Rating 3.22 | Target Price 2.73 | Buy 2 | Strong Buy 5 |
Buy 2 | Strong Buy 5 | ||
Hold 16 | Sell 2 | Strong Sell 2 | |
Strong Sell 2 |
Upturn AI SWOT
Plug Power Inc
Company Overview
History and Background
Plug Power Inc. was founded in 1998 as a joint venture between DTE Energy and Mechanical Technology Inc. Initially focused on fuel cell technology for stationary power, it shifted towards hydrogen fuel cell solutions for electric vehicles, particularly forklifts and material handling equipment. Over the years, Plug Power has expanded its product offerings and market reach through acquisitions and strategic partnerships.
Core Business Areas
- GenDrive: Hydrogen fuel cell systems for material handling equipment, primarily forklifts. Provides power and reduces emissions in warehouse and distribution environments.
- GenFuel: Infrastructure solutions for hydrogen fuel production, storage, and dispensing. Supports the refueling needs of GenDrive-powered vehicles and other hydrogen applications.
- GenCare: Comprehensive service and maintenance programs for Plug Power's fuel cell systems, ensuring optimal performance and uptime.
- Electrolyzer: Offering electrolyzers and electrolysis solutions for creating green hydrogen. Target markets for electrolyzers are industrial and transport markets.
Leadership and Structure
Andrew Marsh is the CEO. The company has a traditional hierarchical structure with departments focused on engineering, sales, marketing, finance, and operations. The board of directors provides oversight and strategic guidance.
Top Products and Market Share
Key Offerings
- GenDrive Fuel Cell Systems: Hydrogen fuel cell solutions for forklifts and material handling equipment. The company claims to be a leading provider of fuel cell solutions for the material handling market. Competitors include Ballard Power Systems and Hyzon Motors.
- GenFuel Hydrogen Refueling Infrastructure: Hydrogen fuel production, storage, and dispensing systems. Competitors include Air Products and Linde.
- Electrolyzers: Electrolyzer solutions for producing green hydrogen. Competitors include Nel ASA, ITM Power, and Cummins.
Market Dynamics
Industry Overview
The hydrogen fuel cell industry is experiencing rapid growth, driven by increasing demand for clean energy solutions and government incentives. Applications span transportation, stationary power, and industrial processes. However, the industry also faces challenges related to cost competitiveness, infrastructure development, and regulatory uncertainty.
Positioning
Plug Power is positioned as a leading provider of hydrogen fuel cell solutions, particularly in the material handling market. The company aims to expand its reach into other sectors, such as transportation and stationary power, through strategic partnerships and product development. Plug Power differentiates itself through its vertically integrated approach, offering both fuel cell systems and hydrogen infrastructure solutions.
Total Addressable Market (TAM)
The global hydrogen market is expected to reach hundreds of billions of dollars by 2030, and increase significantly in the following decades. Plug Power targets various segments within this market, including material handling, transportation, and stationary power, aiming to capture a significant share through its technology and integrated solutions.
Upturn SWOT Analysis
Strengths
- Early mover advantage in the hydrogen fuel cell market
- Vertically integrated business model
- Strong partnerships with major companies
- Focus on green hydrogen production through electrolyzer technology
Weaknesses
- History of net losses and negative cash flow
- High reliance on government subsidies and incentives
- Competition from established players in the energy sector
- High operating costs
Opportunities
- Growing demand for clean energy solutions
- Government support for hydrogen infrastructure development
- Expansion into new markets and applications
- Technological advancements in fuel cell and electrolyzer technology
Threats
- Fluctuations in hydrogen prices
- Competition from alternative energy technologies
- Regulatory uncertainty
- Economic downturns
Competitors and Market Share
Key Competitors
- FCEL
- BLDP
- BE
Competitive Landscape
Plug Power's competitive advantage lies in its integrated solutions and early mover advantage. However, it faces competition from established players with greater financial resources and technological expertise.
Major Acquisitions
United Hydrogen Group
- Year: 2020
- Acquisition Price (USD millions): 0
- Strategic Rationale: Expanded Plug Power's hydrogen fuel production capabilities and vertically integrated supply chain. (Price was not publicly disclosed and shares were issued.)
Applied Cryo Technologies
- Year: 2021
- Acquisition Price (USD millions): 45
- Strategic Rationale: Strengthened Plug Power's capabilities in hydrogen delivery and infrastructure.
Growth Trajectory and Initiatives
Historical Growth: Plug Power has experienced significant revenue growth in recent years, driven by increasing adoption of its fuel cell solutions. However, the company has also faced challenges in achieving profitability.
Future Projections: Analyst estimates for Plug Power's future growth vary widely, reflecting the uncertainty surrounding the hydrogen fuel cell market. Some analysts project strong revenue growth and improving profitability, while others remain cautious due to the company's financial risks.
Recent Initiatives: Recent initiatives include expanding its electrolyzer manufacturing capacity, developing new fuel cell products, and forming strategic partnerships with major companies.
Summary
Plug Power is a leading player in the growing hydrogen fuel cell market with integrated solutions. The company exhibits substantial revenue growth but faces ongoing challenges in achieving profitability. Its vertically integrated strategy and strong partnerships are assets, but it must overcome competition and manage financial risks effectively. Future success hinges on continued market adoption and cost reductions.
Similar Companies
APD
Air Products and Chemicals Inc
APD
Air Products and Chemicals Inc
BE
Bloom Energy Corp
BE
Bloom Energy Corp
BLDP
Ballard Power Systems Inc
BLDP
Ballard Power Systems Inc
FCEL
FuelCell Energy Inc
FCEL
FuelCell Energy Inc
LIN
Linde plc Ordinary Shares
LIN
Linde plc Ordinary Shares
Sources and Disclaimers
Data Sources:
- Company Filings
- Analyst Reports
- Industry Publications
- Plug Power Investor Relations
Disclaimers:
The data provided is for informational purposes only and should not be considered investment advice. Market conditions and company performance are subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Plug Power Inc
Exchange NASDAQ | Headquaters Latham, NY, United States | ||
IPO Launch date 1999-10-29 | CEO & Director Mr. Andrew J. Marsh | ||
Sector Industrials | Industry Electrical Equipment & Parts | Full time employees 3224 | Website https://www.plugpower.com |
Full time employees 3224 | Website https://www.plugpower.com | ||
Plug Power Inc. develops hydrogen fuel cells product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; Progen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power. It also provides electrolyzers, a hydrogen generator for clean hydrogen production; liquefaction systems that provides liquid hydrogen to customers; cryogenic equipment for the distribution of liquified hydrogen, oxygen, argon, nitrogen and other cryogenic gases, including trailers and mobile storage equipment; and liquid hydrogen, an alternative to fuel to fossil-based energy. The company sells its products through a direct product sales force, original equipment manufacturers, and dealer networks. Plug Power Inc. was incorporated in 1997 and is headquartered in Latham, New York.
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