Peterson praised the company for giving investors a heads-up on the miss before it actually happened. Plug blamed "product launch delays, supply chain issues and customer site readiness delays" for the prospective sales miss. Thus, investors can probably expect 2022 revenues to come in somewhere between $725 million and $750 million. And even more specifically, this means that Plug will probably miss estimates for its 2022 sales by anywhere from $75 million to $100 million. Specifically, instead of growing its revenues 80% in 2022 (as it had promised), Plug says revenues actually grew closer to 45% to 50% last year. Morgan analyst Bill Peterson explained that the bad news is that, in the course of laying out its long-term plans, Plug also dropped something of a short-term bombshell. So why aren't investors happy with Plug stock? After all, even analysts that are optimistic about Plug Power aren't expecting the company to produce honest-to-goodness GAAP profits before 2025 at the earliest. You might think investors would take that as good news - great news, even. This implies (although Plug didn't state it outright) that, as early as 2024, Plug Power might be GAAP profitable for the year - and for the first time ever in its history. Management also set the goal of narrowing its operating losses (which will be negative for most of the year) such that, by Q4 2023, the company intends to break even on an operating basis. In particular, while the company has no intention of earning a profit this year, Plug is maintaining its guidance for $1.4 billion in sales, and for achieving a positive gross margin of 10%. Systematic retrieval of data or other content from, whether to create or compile, post to other websites, directly or indirectly, as text, video or audio, a collection, compilation, database or directory, is prohibited absent our express prior written consent.Some of what Plug told investors was even good news. Any other use, including for any commercial purposes, is strictly prohibited without our express prior written consent. You may use and the contents contained in solely for your own individual non-commercial and informational purposes only. Liable for your own investment decisions and agree to the Users should not base their investment decision upon. is a research service that provides financial data and technical analysis of publicly traded stocks.Īll users should speak with their financial advisor before buying or selling any securities. Our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance. Since the stock is closer to the support from accumulated volume at $11.72 (0.68%) If Plug Power takes out the full calculated possible swing range there will be an estimated 15.83% move between the lowest and the highest trading price during the day. Which gives a possible trading interval of +/-$0.93 (+/-7.92%) up or down from last closing price. Trading Expectations (PLUG) For The Upcoming Trading Day Of Thursday 16thįor the upcoming trading day on Thursday, 16th we expect Plug Power to open at $11.69, and during the day (based on 14 day Average True Range), We hold a negative evaluation for this stock. For the last week, the stock has had daily average volatility of 7.92%. During the last day, the stock moved $0.435 between high and low, or 3.81%. This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". Plug Power finds support from accumulated volume at $11.72 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested. Support, Risk & Stop-loss for Plug Power stock How to buy PLUG stock and grow your wealth. The ultimate guide for first-time investors: Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Further fall is indicated until a new bottom pivot has been found. A sell signal was issued from a pivot top point on Thursday, February 02, 2023, and so far it has fallen -34.04%. A break-up above any of these levels will issue buy signals. On corrections up, there will be some resistance from the lines at $12.70 and $14.95. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. The Plug Power stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. There are few to no technical positive signals at the moment.
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