9/25/2023 0 Comments Plug power stock forecast![]() I believe PLUG bulls had been looking for better execution from the company in scaling its green hydrogen projects before adding exposure. Last week's rally could have driven some short-covering, as investors reacted positively to Plug Power's announcement of 5MW of " containerized electrolyzer modules for first-ever use of industrial-scale green hydrogen" in Europe. I noted that short-sellers loaded more bets into PLUG, as its short interest as a percentage of float surged to nearly 22% in mid-May. ( NASDAQ: PLUG) investors had a brief respite last week as it attempted to recover from a post-earnings selloff triggered by its poor guidance in its early May earnings release. We're currently running a sale for our private investing group, Ultimate Growth Investing, where members get access to portfolios, market alerts, real-time chat, and more.Plug Power's fundamentals, balance sheet, and price action suggest that investors buying now should brace for more pain.Even if they did, expect quick profit-taking. I assessed that they might not return yet. PLUG has collapsed nearly 45% from its February 2023 highs, suggesting dip buyers failed to return. ![]() ![]() Management is confident of non-dilutive financing, but investors must assess whether it's possible. Therefore, raising additional financing is now a matter of when not if.Plug Power is expected to report a cumulative negative free cash flow of $2.4B through FY25, against cash and short-term investments of $1.64B.However, the initial rally fizzled out, suggesting buyers were not confident in holding on to their bets. Plug Power dip buyers returned last week to support the stock. ![]()
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