Plug Power Stock Prediction & Long-Term Forecast

  • Plug Power Inc. develops hydrogen cells that replace conventional batteries. These systems are primarily used in forklifts.

  • In mid-June 2024, Plug Power had a stock capitalization of $2 billion. This is equivalent to a global ranking of 4100.

  • Plug Power is not suitable for passive income investors. The company does not pay dividends as it is unprofitable. 

 

Month
1 year
3 years

Check your investment idea

Find the best to beat the market
TSLA TSLA Tesla Motors
AAPL AAPL Apple
MSFT MSFT Microsoft

Plug Stock Price for Today (07/13/2024)

The price is expected to fall on the 07/13/2024. This is indicated by the technical analysis on the lower timeframes. The public does not believe in Plug Power's price prospects. Additional pressure comes from negative external factors.

Minimum forecast cost

2.64 USD

Maximum Forecast Value

2.92 USD

% value change

+8.92%

Key Findings

  • Price Today — $2.93 USD.

  • Price at Q2 of 2024 — $2.46.

  • Price for next year 2025 — $3.63.

  • Long-term price 2025-2030 — $3.63-$9.60.

The price of Plug Power is likely to fall in the coming weeks. This forecast is indicated by technical analysis tools. Many investment firms are downgrading the issuer. Nevertheless, the average analyst target price is 80% higher than the current price.

 

Plug (PLUG) Technical Analysis

Plug Power has been in a global downturn since early 2021. In mid-June 2024 technical analysis tools give a strong stock sell signal:

  • Plug Power's stock price has declined in 7 of the last 10 trading days;

  • Moving Averages are above the current chart position;

  • The values of the RSI, MACD, and Bull/Bear Power indicators, as well as a number of others, indicate that it is advisable to sell. 

The only positive for Plug Power is that the chart is touching the lower Bollinger Band.

In most cases, this is a sign of a short-term bounce. However, the long-term downtrend remains in place.

The next resistance levels for Plug Power are $2.82 and $2.97. A break of the latter can be taken as a stock buy signal.

If the bearish trend continues, support lines will be at $2.45, $2.41 and $2.30.

 

Neutral

What will PLUG stock be worth in 5 years?

Plug Power is a loss making company. Its existence is secured by subsidies and government grants. The Issuer has also issued additional debt to raise stock funds. There is no reason to believe that this situation will change in the next 5 years.

The Motley Fool believes that the company is at risk of bankruptcy. The same opinion is shared by the WalletInvestor service. They forecast that Plug Power stocks will be worth less than one cent by November 2024. 

Meanwhile, there is still an opportunity for capital growth, Ryan Vanzo acknowledges. This could come as a result of a surge in interest in hydrogen energy over the next 5 years.

There are other bullish Plug Power stocks Forecasts. The most optimistic forecast promises a multiple of more than 88. More realistic is 3-4 times.

Of course, Plug Power will remain a highly volatile investment. Citigroup calls the company the hub of hydrogen energy. Its strengths will play an important role in the next 5 years:

  • Strong distribution network;

  • Good return on investment;

  • Reliable suppliers;

  • Ability to enter new markets quickly. 

However, the proposed technologies may lose out to competition from other energy sources. Plug Power's investment in research and development is lower than that of some other companies in the sector. Some analysts also point to inefficient financial planning.

 

What is the Plug Power stock price prediction for 2024?

Forecasts for Plug expected stock in 2024 vary widely. As of mid-June, most are bullish. However, every analyst providing Stock Price Predictions downgraded their stock price targets and ratings in May.

The company's main problem is its debt of about $1 billion. At current interest rates, it is costly to service. ProTips says Plug Power may have problems with interest payments.

Average predictions for the next 12 months from leading investment firms:

  • $2.5 — Morgan Stanley;

  • $3 — Canaccord Genuity Group;

  • $5 — TD Cowen;

  • $18 — HC Wainwright.

Month

Minimum expected price, $

Maximum expected price, $

Total change, %

July

2.03

2.67

-33.3

August

2.22

2.75

-23.4

September

2.00

2.55

-34.8

October

1.77

2.17

-42.3

November

1.83

2.15

-40.2

December

1.91

2.25

-37.5

 

How much will PLUG stock be in 2025?

All forecasts for 2025 are bullish. There are several reasons for such forecasts. The first is the expectation of lower borrowing rates. The second is a belief that the position of green energy advocates is strengthening. Carbon reduction programs help Plug Power.

PLUG's average target stock price for 2025:

  • $4.17 — CoinPriceForecast;

  • $5.11 — Coincodex;

  • $13.95 — StockScan.

Month

Minimum expected price, $

Maximum expected price, $

Total change, %

January

1.91

2.25

-37.5

February

1.99

2.33

-35.1

March

2.06

2.42

-32.7

April

2.12

2.48

-30.9

May

2.20

2.58

-28.2

June

2.39

2.97

-17.4

July

2.75

3.41

-5.1

August

2.93

3.45

-4.2

September

3.05

3.57

-0.6

October

3.16

3.70

3.0

November

2.69

3.43

-12.3

December

2.92

3.63

0.9

 

PLUG Price Prediction 2026

Many services remain bullish on Plug Power's prospects. They forecast further stock appreciation. There are many bullish outlooks for 2026:

  • $5.29 — CoinPriceForecast;

  • $9.60 — Coincodex;

  • $25.49 — StockScan.

But BeatMarket experts believe that such a view of Plug Power's forecast on the stock price is overly optimistic. There are many problems in the hydrogen energy sector.

One of the most important is the high price on fuel. This reduces the profitability of such energy sources. Until the situation improves, Plug Power is not expected to grow significantly. 

Month

Minimum expected price, $

Maximum expected price, $

Total change, %

January

2.63

3.36

-14.1

February

2.64

3.10

-13.8

March

2.24

2.87

-26.7

April

1.90

2.44

-37.8

May

2.07

2.57

-28.5

June

2.38

2.96

-17.7

July

2.42

2.84

-21.0

August

2.63

3.26

-9.3

September

3.02

3.75

4.2

October

2.71

3.47

-11.4

November

2.40

2.95

-21.6

December

2.04

2.61

-33.3

 

Plug stock forecast 2027

Another problem with hydrogen power is the lack of infrastructure. This is one of the reasons why this type of engine could lose out to electric engines. It is also a major reason for the pessimistic forecast.

But the network also has positive forecasts for 2027. Every Analyst believes that the sector will overcome the current challenges. And Plug Power could be one of the main beneficiaries of the growing demand for alternative energy sources. 

Average Plug Power target price at the end of 2027:

  • $6.64 — CoinPriceForecast;

  • $18.03 — Coincodex;

  • $29.49 — StockScan.

Month

Minimum expected price, $

Maximum expected price, $

Total change, %

January

2.13

2.51

-30.3

February

2.12

2.48

-30.9

March

1.80

2.30

-41.1

April

1.54

1.96

-49.8

May

1.37

1.67

-55.3

June

1.17

1.49

-61.9

July

1.27

1.58

-56.2

August

1.46

1.81

-49.5

September

1.48

1.74

-51.7

October

1.26

1.61

-58.9

November

1.07

1.37

-65.2

December

0.91

1.16

-70.3

 

What is the stock price forecast for Plug in 2028?

The stock analysis service states that Plug Power will start generating net income by 2028. EPS is expected to be in the range of $0.23-$0.28. Revenues could grow to $4.8 billion.

Every Analyst who believes in green energy is predicting to go up to 88 times Plug Power's capitalization. Other bullish scenarios are more modest.

2028 Stock Outlook for Plug Power:

  • $7.96 — CoinPriceForecast;

  • $10.34 — StockScan;

  • $33.88 — Coincodex.

But there is a negative view of Plug Power Forecast. The authors of BeatMarket stick to it.

Month

Minimum expected price, $

Maximum expected price, $

Total change, %

January

0.99

1.23

-65.8

February

0.89

1.14

-70.9

March

0.89

1.05

-70.9

April

0.75

0.97

-75.4

May

0.64

0.82

-79.0

June

0.70

0.87

-75.7

July

0.81

1.00

-72.1

 

Long-Term Plug Forecast 2030 to 2050

Currently, hydrogen energy sources are inferior to other types of green energy. It is the least cost effective option for replacing conventional fuels.

However, every analyst believes the sector will continue to evolve. Global demand for hydrogen is expected to reach 528 million metric tons by 2050, says the IEA report. The key argument is the potential to reduce the price of producing this type of fuel by up to 5 times.

Plug Power's positive forecast for 2050 is founded on these expectations. The company's proprietary electrolysers and hydrogen fueling stations will help it maintain its leadership position in the field. As a result, every analyst offers bullish scenarios.

 

What is the 10-year return on Plug stock?

Plug Power stock forecast for a period of 10 years is offered by 2 reputable services. Both are bullish and promise higher stock price than current levels:

  • $3.37 — StockScan;

  • $11.49 — CoinPriceForecast.

But StockScan's scenario does not make PLUG stock forecast attractive to a long-term investor. In the absence of a dividend, the yield is not commensurate with the potential risk.

 

PLUG Stock Prediction 2030

Plug Power's capitalization will largely depend on whether the hydrogen energy sector overcomes its current difficulties. First of all, low profitability. But experts believe in the prospects of this direction. 

As a result, the forecast for Plug Power is optimistic:

  • $3.27 — StockScan;

  • $9.60 — CoinPriceForecast;

  • $119.57 — Coincodex.

In addition to industry demand, interest rates will have an impact on Plug Power. Government green energy policies will also play an important role.

 

Plug Power Stock Prediction 2040

In 2040, the price Plug Power Inc. stock will be $8.88, based on StockScan data. However, it is important to understand that long-term scenarios are the result of extrapolating past data.

The calculation also takes into account Plug Power's extraordinary capital increase in 2020. It is unlikely to be repeated in the future.

A key influence on such a horizon will be the changing structure of the energy sector. Innovative approaches to green energy regulation are equally important.

 

Plug Stock Outlook 2050

StockScan projects that the price of the stock will average $25.90 in 2050. This scenario makes Plug Power a fairly attractive investment for a long-term investor. The expected return exceeds the historical performance of the S&P 500 Index.

But let's not forget the scenarios of Plug Power's imminent bankruptcy that some investment firms are suggesting.

 

About Plug Power Inc.

plug logo

Plug Power Inc. is a leading supplier of hydrogen fuel cells in the United States and Europe. The company also provides fueling solutions. Another line of business is power generators for data centers and power grids. The key advantage of these products over conventional batteries is that they can be recharged in minutes.

The Company was founded in 1997. It had its initial public offering on the Nasdaq Stock Market in 1999. As of mid June 2024, it has a beta ratio of 1.64 as reported by investing.com. Plug Power Outperforms the S&P 500 Index. This means that it is of interest to traders. 

The main risk for shareholders is the possibility of an additional share issue to raise capital. This would dilute the stock and reduce the potential earnings per stock. 

Plug Power's major competitors include Cummins Inc., Bloom Energy, Ceres Power and Ballard Power.

 

Plug History Chart

2000

The company entered the European arena. Plug Power plug stock reached an all-time peak. It was $1,498 at the close of trading on March 10 (adjusted for the 2011 price split). 

2013

The stock price dropped to the historical minimum. The stock price was $0.12. Shareholders doubted that Plug Power could turn a profit.

2020

The price level is up 13.5 times in 9 months. Plug Power has continued to grow and improve. But PLUG's stock spike was largely due to the hydrogen energy boom. Reddit user interest played a big role.

 

What Influences Plug Stock Price

Company's own achievements

News of favorable contracts or improved operating performance can cause the stock price to rise. Conversely, news of Plug Power's problems can cause the stock price to plummet.

Competition and Technological Advancement

The risk that Plug Power will lose market share will be a selling point for the stock. Therefore, the success of competitors and their introduction of new fuel system models is a negative factor for the Company.

Macroeconomic Factors and Industry Challenges

Plug Power's stock price is dependent on the forecast for hydrogen power. News of rising fuel stock prices and other issues are negative for capitalization. Global macroeconomic factors also affect the company. These include interest rates, sector growth rates, etc.

Is PLUG a long-term stock?

Short-term

(1-6 month)
In the short term, Plug Power is not a good purchase. There is a strong likelihood that the stock will decline. There are negative factors affecting the stock exchange. And current interest rates offer shareholders an opportunity to make money without taking unnecessary risk.

Medium-term

(6-12 month)
On a 6-12 month horizon, Plug Power's stock price forecasts of Wall Street analysts promise a decline in capitalization. The stock is in a long-term downtrend. There is no sign of its completion. All rallies are technical corrections.

Long-term

(1 year+)
On a 6-12 month horizon, the consensus forecasts of Wall Street analysts are for the price of the stock to rise. The main arguments for the bulls forecast are the growth prospects of the hydrogen energy sector. Another positive factor is the possibility of a Fed rate cut. This will revive investor interest in risky assets.

FAQ

Is Amazon investing in Plug Power?

Yes, Amazon owns stocks of PLUG. Amazon is one of Plug Power's largest customers. As a result, it recently provided a stock option to subsidize the purchase of fuel cells.

What is the expert consensus on Plug Power's stock forecast?

As of mid-June 2024, the consensus forecasts for Plug Power are "Hold”. This is the recommendation of 18 analysts. Another 8 have a Buy rating and 3 - a Sell rating.

How do Plug Power's financials impact its stock forecast?

As of 2021 turnover growth has been observed. Nevertheless, the stock is in a downtrend. And the forecast is negative. The reason is the lack of net profit, doubts about the solvency of the company's business model. Passing the break-even point should have a positive impact on analysts' expectations.

What are the potential risks and challenges facing Plug Power?

Plug Power's biggest risk is the need for money. According to Redburn Atlantic, more than $2 billion is needed over 5 years. Such financing will allow it to reach the break-even level. Other risks - low profitability of hydrogen systems, expensive fuel.

How does PLUG compare to its competitors in the industry?

The competitive advantage of Plug Power systems is the lightweight and compact size of the fuel cells. Fast charging is also an important factor. This allows vehicles to be used as efficiently as possible. Another advantage is the customer interaction guidance. The company offers extended maintenance contracts.

Join MaxDividends on Substack!

Live off Dividends

Follow MaxDividends on Substack