Plug Power has seen its stock drop nearly 99% since becoming public, closing recently at $1.97, though analysts have now upgraded it to a 'Buy' rating with a reduced price target of $3. While the company reported third-quarter revenue of $177 million, it continues to suffer losses, posting a loss of $0.12 per share, with profitability expected to be out of reach until at least 2031. On a hopeful note, Plug Power is cutting cash burn by 53% and has raised $399.4 million, positioning itself to leverage an $8 billion electrolyzer opportunity as it aims for $700 million in revenue by 2025.
“Plug Power · upgraded to · Buy · from Hold with a price target of $3, down from $3.50”
“Plug Power · closed · Wednesday’s session · $1.97”
“Plug Power · has fallen · since going public · 99%”
“Clear Street · upgraded · Plug Power stock · to Buy with a reduced $3 price target”
“Tim Moore · cut price target on · Plug Power · $3 a share”
“Plug Power · raised · money · $399.4 million”
“Plug Power · has never earned · profit · profitable”
“analysts · don’t see · Plug Power turning profitable · before 2031”
“Plug Power · wasn't one of · best stocks for investors · true”
“Tim Moore · upgraded Plug stock to · buy from hold · true”
“Tim Moore · reduced the price target to · $3 · true”
“Clear Street analyst Tim Moore · believes · the fuel cell stock is on a path to profitability · true”