PLUG POWER (#PLUG) weekly special report based On 1 Lot Calculation:
HYDROGEN FUEL CELL MARKET
- GLOBAL MARKET SIZE: A hydrogen fuel cell is a device that converts hydrogen and oxygen into water while simultaneously generating electricity. End users are fuel cell vehicles, utilities and defense. The global hydrogen fuel market size was valued at $14.3 billion in 2022, and is projected to reach $95.5 billion by 2032, growing at a CAGR of 21.5% from 2023 to 2032. Key market players include Bloom Energy, Shell plc, Linde, Plug Power, DuPont de Nemours.
PLUG POWER
- THE COMPANY: Plug Power Inc. is an American company engaged in development of hydrogen ecosystems that includes everything from hydrogen production, storage, and delivery to energy distribution. It develops hydrogen fuel cell systems that replace conventional batteries in equipment and vehicles powered by electricity. It offers a number of solutions to deliver and store green hydrogen to customers.
- INVESTMENTS AND PROSPECTS: Plug Power forecasts 2023 revenue of $1.4 billion, and it's targeting revenue of $5 billion in 2026 and management expects sales to rise sharply over the next three years. Institutions hold 55% of the company which is a huge vote of confidence on its future. The company aims to exceed 2,000 tons of daily hydrogen production from its green hydrogen network, including its first kiloton-scale plant by 2030 and to have the manufacturing capability to support 10 GW of fuel cells and electrolyzers and, through its partnership with Renault, to have 100K HyVia vans on the road by 2030.
NEWS AND ANALYSIS:
- PLUG POWER EARNINGS Q2: AUGUST 9, 2023 (AFTERMARKET). Analysts expect the company’s results to show that its revenue jumped to $242 million in Q2 from $210 million in the previous quarter. Plug Power’s revenue in Q2 of 2022 came in at $158 million. This means that demand for its products is gaining steam as the hydrogen energy industry’s momentum continues. The management believes that its annual revenue will jump to over $1.4 billion this year with its gross profit coming in at $140 million.
- PLUG POWER WINS 21.8M EUROPEAN GRANT TO BUILD HYDROGEN POWER PLANT. The company unveiled plans to develop three green hydrogen production plants in Finland to produce 850 tons/day of green hydrogen, or 2.2 GW of electrolyzer capacity, by the end of the decade.
- PLUG POWER IN THE FINAL STAGES OF NEGOTIATING LARGE SCALE PROJECTS in the US, Europe and Asia Pacific. In March the company won a contract to build a 100 megawatt electrolyzer with Uniper. PLUG POWER MADE 3 NEW DEALS IN EUROPE. Deals with Ardagh Glass Limmared AB, Hydro Havrand and the APEX Group will be the first use of industrial-scale green hydrogen in glass manufacturing, aluminum recycling and steel manufacturing. The deal comes as the European Union plans to produce 10 million metric tons of green hydrogen per year by 2030.
- ANALYST DAY ANNOUNCEMENTS (June 14, 2023): ANNUAL REVENUE INCREASE OF 1329% BY 2030. The company's ambition is to produce more than 2,000 tons/day of hydrogen from its green hydrogen network, including its first kiloton-scale plant by 2030. Plug said it is positioning itself to have the manufacturing capability to support 10 GW of fuel cells and electrolyzers and, through its partnership with Renault, to have 100K HyVia vans on the road by 2030.
- PLUG POWER IS INCLUDED IN THE U.S. ENERGY DEPARTMENT PLAN to allocate $7-billion and establish 6 to 10 regional clean hydrogen hubs as part of a larger $8 billion program funded through the Bipartisan Infrastructure Law. Plug Power is included in six of them that span from Appalachia to California.
- PRICE ACTION: THE STOCK HAS TRADED AROUND 85% BELOW ITS ALL-TIME HIGH OF $75.49 (January 26, 2021). Plug Power was last trading around $11.56, and If a full recovery follows recent all- time highs, the stock could see an upside of around 533%. However, the price could decline further.
- ANALYSTS OPINION: Northland Capital Markets increased its target to $22. Morgan Stanley forecasts $15, Oppenheimer forecasts $21 and Citigroup forecasts $13.
PLUG POWER (#PLUG), August 7, 2023
Current Price:12.15
|
Plug Power |
Weekly |
|
Trend direction |
|
|
17.00 |
|
|
16.00 |
|
|
15.00 |
|
|
9.30 |
|
|
8.30 |
|
|
7.30 |
Example of calculation based on weekly trend direction for 1 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
4,850.00 |
3,850.00 |
2,850.00 |
-2,850.00 |
-3,850.00 |
-4,850.00 |
|
Profit or loss in €² |
4,418.64 |
3,507.58 |
2,596.52 |
-2,596.52 |
-3,507.58 |
-4,418.64 |
|
Profit or loss in £² |
3,810.51 |
3,024.84 |
2,239.17 |
-2,239.17 |
-3,024.84 |
-3,810.51 |
|
Profit or loss in C$² |
6,491.00 |
5,152.65 |
3,814.30 |
-3,814.30 |
-5,152.65 |
-6,491.00 |
- 1.00 lot is equivalent of 1000 units
- Calculations for exchange rate used as of 10:05 (GMT) 07/08/2023
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient Manager regarding their use.
- You may wish to consider closing your position in profit, even if it is lower than suggested one
- Trailing stop technique can protect the profit – Ask your Senior Account ManagerClient Manager for more detail