The inventory of Plug Energy (PLUG 5.96%), maker of hydrogen gasoline cells and the hydrogen to gasoline them, jumped 5.5% via 12:45 p.m. ET Tuesday after saying what was — truthfully — some fairly ho-hum information.
In a press launch out this morning, Plug confirmed plans to take part in a pair of imminent investor conferences.
Picture supply: Getty Pictures.
What’s on Plug Energy’s to-do listing?
First, Plug stated its president and VP of investor relations would current at as we speak’s J.P. Morgan Vitality, Energy, Renewables & Mining Convention in New York Metropolis. At some point later, the corporate will ship CEO Andy Marsh throughout the pond to talk on the Roth fifteenth Annual London Convention.
Plug offered no additional particulars on the contents of both deliberate presentation, though an investor may surmise the corporate will proceed to hype its just lately introduced expanded partnership with Australia’s Allied Inexperienced Ammonia. The 2 firms are working to arrange a 2-gigawatt (GW) hydrogen gasoline electrolyzer plant in Uzbekistan, further to a separate 3-GW plant they wish to construct in Australia.
Is Plug Energy inventory a purchase?
Neither of the Allied Inexperienced tasks are actually off the bottom simply but. The Australian plant is closest to shifting from thought to reality, with a last funding determination anticipated earlier than the top of this yr.
In the meantime, Plug’s nonetheless shedding greater than $2 billion per yr, and burning almost $950 million in money yearly. The corporate remains to be searching for shareholder approval of a plan to promote extra shares to lift money, and in Could needed to take out a brand new $525 million secured time period mortgage facility to roll over outdated debt and supply money wanted to construct out its present tasks.
Due to this fact, Plug inventory stays speculative, and I can not suggest shopping for it.
Wealthy Smith has no place in any of the shares talked about. The Motley Idiot has no place in any of the shares talked about. The Motley Idiot has a disclosure coverage.
