![]() ![]() ![]() Moreover, Plug stock remains down by almost 60% from its all-time highs seen in January and this could also present an opportunity for investors. While the stock trades at a relatively lofty 30x consensus 2021 revenues, this is partly justified by strong growth rates (sales growth is likely to stand at over 40% over the next two years). While traditional renewable energy sources such as solar and wind are being used in the electricity generation and transportation markets, hydrogen is likely to be crucial to helping decarbonize sectors including aviation, shipping, heavy industries, and long-distance trucking. So is Plug Power stock a buy for longer-term investors? Investors see the company and its fuel cells as a key play on the growth of the hydrogen economy. See our complete analysis on Plug Power Stock Chances of A Rise For More Details So will the declines continue, or is a rally looking more likely for Plug Power stock? According to the Trefis Machine Learning engine, Plug Power stock has a 53% chance of a rise over the next month. Although Plug Power is more focused on the material handling market presently, it has been looking to move into the broader transportation space and the recent traction by Hyzon is likely being viewed as a negative for the company. Separately, last week, Hyzon also announced a partnership with Chart Industries to develop heavy-duty commercial vehicles. Hyzon Motors, a company that manufactures hydrogen fuel cell-powered vehicles, announced that it has entered into a memorandum of understanding with TotalEnergies, one of the world’s largest energy companies, to supply hydrogen fuel-cell-powered trucks. While the performance of the broader alternative energy sector has been mixed in recent weeks, Plug Power stock also appears to have been hurt by some positive news for a competitor. Plug Power, a company that sells hydrogen fuel cell systems that are used in the material handling and power backup space, saw its stock decline by around 12% last week (five trading days), underperforming the broader S&P 500 which was roughly flat during the same period. companies that sell hydrogen fuel cells, related renewable energy equipment, and supply hydrogen gas. See our theme on Hydrogen Economy Stocks for an overview of U.S. A change of 18% or more over twenty-one trading days has a 22% event probability, which has occurred 545 times out of 2516 times in the last ten years.Plug Power stock rose 18% over the last twenty-one trading days (one month), compared to the broader market (S&P500) rise of 2.2%.Plug Power is also partnering with refinery major Phillips 66 PSX to develop low-carbon hydrogen solutions that could be deployed in Phillips 66’s operations. The first deal, with Airbus, will see the two companies study how to bring green hydrogen to the aviation industry, with Airbus focusing on hydrogen aircraft and Plug Power designing hydrogen infrastructure for airports. ![]() ![]() Moreover, the company also saw two notable deals that could help deploy its hydrogen technology beyond its current material handling and power backup end markets into other highly polluting industries. Plug Power recently updated its long-term guidance, noting that its revenues could grow by about 65% next year to between $825 million and $850 million while forecasting sales of $3 billion by 2025. There have been multiple developments that have driven the stock. Plug Power, a company that sells hydrogen fuel cell systems, saw its stock rise by a solid 18% over the last month (about 21 trading days), considerably outperforming the broader S&P 500 which rose about 2% over the same period. (Photo Illustration by Chukrut Budrul/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images hydrogen fuel cell systems that replace conventional batteries in equipment, Power Plug, logo is seen on an Android mobile device screen with the currency of the United States dollar icon, $ icon symbol in the background. CHINA - 4: In this photo illustration the American company engaged in the development of. ![]()
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