About Us

Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

Laser Focus World Membership

Never miss any articles, videos, podcasts, or webinars by signing up for membership access to Laser Focus World online. You can manage your preferences all in one place—and provide our editorial team with your valued feedback.

Magazine Subscription

Can you subscribe to receive our print issue for free? Yes, you sure can!

Newsletter Subscription

A Laser Focus World newsletter subscription is free to qualified professionals:

The Daily Beam

Showcases the newest content from Laser Focus World, including photonics- and optics-based applications, components, research, and trends. (Daily)

Product Watch

The latest in products within the photonics industry. (9x per year)

Bio & Life Sciences Product Watch

The latest in products within the biophotonics industry. (4x per year)

Laser Processing Product Watch

The latest in products within the laser processing industry. (3x per year)

Get Published!

If you’d like to write an article for us, reach out with a short pitch to Sally Cole Johnson: [email protected]. We love to hear from you.

Photonics Hot List

Laser Focus World produces a video newscast that gives a peek into what’s happening in the world of photonics.

Following the Photons: A Photonics Podcast

Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Social Media

Bluesky • Facebook • Instagram • LinkedIn • YouTube

Meet the Laser Focus World Team

Editorial

Sales

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology
My Watchlist
Indicators
Industrial Laser Index
Markets
Stocks
ETFs
Tools
Markets:
Overview
News
Currencies
International
Treasuries

Plug Power Pivots, But a Stock Price Reversal Is Unlikely

By: MarketBeat

Plug Power Stock price

Plug Power (NASDAQ: PLUG) shares shot up 10% following the Q4 release and FY update; however, it is not time to buy this stock in any other way than speculatively. The company turned a corner and says there is no longer concern about its ability to operate, but there is still significant concern about the share price. The Q4 details are less than what the market was looking for, cash is still a problem, and dilution will weigh on stock prices this year. 

The company’s ability to continue as a going concern centers on its inventory, cash flow and cash reserves. The inventory and revenue are increasing, aiding the outlook for self-sufficiency, but losses are mounting, and the cash pile is dwindling. The current cash and inventory are insufficient to offset the losses posted for 2023. Spending is expected to continue rapidly in 2024 as new projects begin and existing ones are completed, so additional capital will be needed. 

Dilution and Short-Sellers Cap Gains In Plug Power

The additional capital will come from B. Riley, which entered into an at-the-market offering worth $1 billion in cash for Plug Power. The $1 billion is enough to see the company through to the end of the year and into the next, but will have a significantly dilutive impact on shareholder value if used in full. $1 billion is 37% of the post-release market cap, and there is no guarantee that additional funding won’t be needed in 2025. 

This is a factor in the short interest, which is high. The stock was nearly 30% short in mid-February, which is unlikely to change soon. The combination of no profits, weak cash position, and dwindling shareholder value have this stock on track to trend lower in 2024. The share count increased by 2.75% in 2023 and will likely increase by a high-single to low-double-digit figure in 2024. Shareholder equity is also falling, with cash down 80%, current assets down 45%, total assets down 15% and liabilities rising. Equity fell by 27% in 2023 and will likely fall significantly in 2024. 

Sell-Side Sentiment May Put a Floor In Plug Power

The sell-side sentiment is mixed in Plug Power, but some details suggest a floor is in place for this green energy company. The analysts cut their ratings enough in 2023 and the first two months of 2024 to put PLUG on Marketbeat’s Lowest Rated Stocks and Most Downgraded Stocks lists, but they’re still holding and seeing about 75% upside at the consensus. The caveat is that the price target is down 75% compared to last year, and the freshest targets view the market as fairly valued at current levels, so an analyst-driven rally is unlikely. 

Institutions support the floor in price action. The institutions bought this stock on balance in all four quarters of 2023 and quarter-to-date in 2024, with buying activity ramping in Q1 2024. They own 50% of the stock, including funds and private capital, with BlackRock and Vanguard commanding nearly 20%. The largest institutional shareholder is SK Inc., a Seoul-based value investor. Plug Power is its 10th-largest holding.

The Technical Outlook: Plug Power Melts Up, Resistance Ahead

The price action in Plug Power is melting up. The action is aided by short-covering and news, but significant resistance is ahead. The stock may increase to $4.60 or $5.00, a solid gain for short-term traders, but a higher move is not expected. The $5 level has capped gains for several quarters and is not likely to weaken now. The most likely scenario is that this level will produce another sell signal, leading to a retest of recent lows near $2.75. 

Plug Power stock chart

More News

View More
Tesla Earnings Loom: Bulls Eye $600, Bears Warn of $300
Via MarketBeat
Topics Artificial Intelligence Electric Vehicles
Tickers TSLA
Cathie Wood Buys Alibaba and Baidu: Momentum or More Value Ahead?
Via MarketBeat
Topics Artificial Intelligence ETFs
Tickers AMZN BABA BIDU GOOGL MCHI
This ETF Weeds Out Small-Cap Underperformers
Via MarketBeat
Topics ETFs Government
Tickers BWA COOP IJR IWM KTOS SNDK
3 Top-Rated Dividend Growth Stocks to Buy in October
Via MarketBeat
Topics Bonds
Tickers PCH PR SFD
2 AI Stocks With Record Breaking Rallies: Can They Continue?
Via MarketBeat
Topics Artificial Intelligence Economy
Tickers AMZN HUT MSFT NBIS
Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.