On 06 April 2020, Plug Power Inc (NASDAQ: PLUG) spotted trading -39.01% off 52-week high price. On the other end, the stock has been noted 98.39% away from the low price over the last 52-weeks. The stock changed 10.15% to recent value of $3.69. The stock transacted 11,626,828 shares during most recent day however it has an average volume of 17.52M shares.
Plug Power Inc. (PLUG) has reported recently its 2019 fourth quarter and year end results.
Q4 2019 marked a record quarter in gross billings – the largest in the company’s history by over 50%
Milestone breakthrough year with first year positive adjusted EBITDA
Four major strategic agreements were secured in 2019
Gross billings for Q4 of $94.5M and full year 2019 of $236.8M
Company is providing guidance for 2020 with strong visibility and solid growth
Company remains on track to deliver its 2024 targets as it continues to build the hydrogen economy
2019 Full Year and Fourth Quarter Strong Financial Performance
The company achieved record gross billings in 2019 of $94.5M in the fourth quarter of 2019 and $236.8M for the full year. The company deployed over 2,400 fuel cell units in the fourth quarter of 2019 and over 6,300 for the full year. In the fourth quarter, the company executed a publicly marketed follow on equity offering raising total gross proceeds of $126.5M. This serves to strengthen the company’s balance sheet and fund the five-year strategy.
Strong Visibility in 2020
Plug Power has set guidance to achieve $300M in gross billings in 2020. This is more than 25% gross billings growth year over year. The company already has a pipeline that provides over 90% visibility to the deployment target for 2020.This is reflective of an increase in multi-site orders from pedestal customers and growing adoption rates in existing and expansion markets due to confidence in the solution’s value proposition. The company’s strategic focus in 2020 includes leveraging the ProGen platform to expand into on-road and large-scale stationary markets, focusing on continuously reducing cost of capital, and executing on its hydrogen strategy. Plug Power strengthened its business in every way in 2019, including delivery of a strong financial performance, expanding its management team, strengthening its balance sheet, and executing on multiple strategic priorities. This foundation, paired with the clear strategies developed, gives a great deal of confidence in the company’s 2020 goals and beyond – as the company builds to the 2024 target of $1B in annual gross billings, over $170M in operating income, and over $200M in adjusted EBITDA.
Its earnings per share (EPS) expected to touch remained -1.00% for this year while earning per share for the next 5-years is expected to reach at 25.00%. PLUG has a gross margin of 12.10% and an operating margin of -21.70% while its profit margin remained -37.10% for the last 12 months. The price moved ahead of 6.17% from the mean of 20 days, -24.56% from mean of 50 days SMA and performed 18.87% from mean of 200 days price.