Latest news with #CraigIrwin
CNBC
3 days ago
- Business
- CNBC
'Closing Bell Overtime' panel weighs in on Elon Musk and Pres. Trump's social media face off
Craig Irwin, Roth Capital, Tim Higgins, Wall Street Journal, and Brenda Vingiello, Sand Hill Global Advisors, join 'Closing Bell Overtime' to talk the impact of Elon Musk and Donald Trump's falling out and ensuing social media face off.
Globe and Mail
22-05-2025
- Business
- Globe and Mail
Can Plug Power Stock Hit $3.50 in 2025?
Leading hydrogen fuel cell maker Plug Power (PLUG) has found itself under intense selling pressure over recent years, with its stock suffering sharp declines as ongoing losses overshadow steady top-line growth. Despite making headway in key areas like electrolyzers, where demand continues to rise, the company's path to profitability remains uncertain. Moreover, Plug's heavy reliance on external funding to support operations and expansion has only added to investor concerns. While the company is making strategic moves within the hydrogen economy, the disconnect between growth and financial stability continues to keep market sentiment on edge. But even as the company's fundamentals paint a gloomy picture, not all Wall Street analysts are ready to give up on Plug just yet. Roth Capital analyst Craig Irwin, for instance, recently chopped his price target from $5 to $3.50, but kept a 'Buy' rating intact, signaling that he hasn't lost faith in the company's long-term story. While the revised target does reflect a more cautious stance, it also signals Irwin's belief that Plug Power could still find its footing before the year is out. About Plug Power Stock Founded in 1997, New York-based Plug Power (PLUG) has positioned itself as a key player in the global hydrogen economy, with a vertically integrated model that spans production, storage, delivery, and power generation. The company supplies electrolyzers, fuel cells, and hydrogen infrastructure to a range of industries, including logistics, manufacturing, and energy. With deployments across five continents, over 70,000 fuel cell systems in operation, and 250 fueling stations, Plug has established a significant footprint. Valued at approximately $826 million by market cap, shares of this hydrogen fuel cell maker are deep in the red this year, down almost 63%, heavily underperforming the broader S&P 500 Index ($SPX). As Plug Power remains stuck in a deep slump, the stock now trades at just 1.41 times sales, below the sector median of 1.54x and miles away from its five-year average of 44.57x. The sharp compression in its valuation signals a major shift in market perception, as investors grow increasingly wary of its ongoing losses and dependence on external funding. Plug Power Tanks After Q1 Earnings Release Plug Power unveiled its first-quarter results on May 12, offering a mixed snapshot that triggered a 10.2% selloff in the following trading session. Revenue came in at $133.7 million, marking an 11.1% year-over-year increase and slightly surpassing analyst expectations. The top-line growth was driven by a pickup in electrolyzer deliveries, steady demand in the material handling segment, and continued momentum in the company's cryogenic platform. Despite top-line gains, Plug Power couldn't escape investor backlash as losses continued to weigh on its financials. The company reported a Q1 2025 loss of $0.21 per share, narrower than the $0.46 loss a year ago, but still missing analyst expectations by a penny. Gross margin came in at a negative 55%, a significant improvement from the negative 132% recorded in Q1 2024. The year-over-year gains were driven by supply chain optimization, ongoing cost-cutting measures, price adjustments, and improved scale across its hydrogen platform. Still, the persistent red ink kept investor confidence in check. Looking forward to Q2, management is guiding for revenue to range between $140 million and $180 million, with expectations for continued gains in gross margin and working capital performance as the year unfolds. CEO Andy Marsh emphasized the company's forward momentum, stating, 'We're delivering real progress toward profitability and scaling our hydrogen ecosystem to meet growing global demand for clean energy.' Earlier this month, Plug Power also secured a loan facility of up to $525 million, aiming to bolster its green hydrogen network with added financial flexibility. While the company has made strides in expanding that network in recent years, the move has done little to lift investor sentiment, as Plug's stock has continued its downward slide throughout the years. What Do Analysts Expect for Plug Power Stock? After a rocky Q1 earnings update, Roth Capital trimmed its price target on Plug Power to $3.50 from $5.00, citing lowered revenue forecasts for 2025. Yet, despite the downgrade, analyst Craig Irwin held firm on his 'Buy' rating, highlighting strong European demand for electrolyzers, improving gross margins, and success in monetizing green hydrogen tax credits in Georgia. Even with the cautious revision, the new target points to a striking 343% upside from current levels. Overall, Wall Street is keeping its guard up, with the consensus leaning toward a cautious 'Hold' as uncertainty around Plug Power's path to profitability lingers. Of the 24 analysts offering recommendations, six are giving it a solid 'Strong Buy,' 13 suggest a 'Hold,' and the remaining five give a 'Strong Sell.' The average analyst price target of $2 indicates 153% potential upside from the current price levels.
CNBC
20-05-2025
- Business
- CNBC
Tesla can surpass Waymo very quickly, says Roth's Craig Irwin
Craig Irwin, Roth Capital senior research analyst, joins 'Closing Bell Overtime' with reaction to CNBC's interview with Tesla CEO Elon Musk.
Yahoo
22-04-2025
- Automotive
- Yahoo
Tesla Q1 revenue was a 'huge miss' but margins were 'pretty solid'
Tesla (TSLA) reported first quarter earnings, which missed analyst estimates on the top and bottom lines. ROTH MKM senior research analyst Craig Irwin joins Yahoo Finance's Tesla earnings special with Julie Hyman and Myles Udland to share his instant reaction to the earnings print. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. So, what do you make of this? Yes, it is worse than expected, but everybody expected it to be worse than expected, if that makes sense. I wholeheartedly agree, right? I mean, we all knew this was going to be a terrible quarter. Uh, we knew they were probably going to mark their lowest margins, um, in a few years. I mean, in the scheme of things, gap gross margins was 16.2 versus 16.5, given the size of revenue miss. Pretty solid, actually. And margins are where they've had problems over the last several quarters, actually a couple years. And then you look at adjusted auto margins, 12 and a half, uh, versus 13.1. Again, uh, size of this miss was, was huge. So, uh, on the margin side, I would say that's strength. That's execution, and that's probably favorable mix. And then, you know, I, I hear what you were saying in the previous segment. You know, they were saying in their release, the model Y lost production, uh, was a large part of the revenue dip in the quarter. So that means this, this is kind of sort of an operational transition and maybe less of the political volatility, even though politics have had a huge impact on the stock. Um, you know, there are some operating changes that have to happen at the company. So, I mean, there are some silver linings in here, maybe, and we can look for the company update. This is going to be the first time they give us something they officially call a company update. We got mini car on the mat, we got Robo taxi, we got Optimus, we got, you know, AI. I mean, gosh, they got so many things going on, and it's a story stock. Uh, it's not just a political story. It's a company that's executing and leading and some of these really exciting technologies. Stay tuned. I think we're going to have, we're going to have a very exciting conference call. You know, and, and Craig, of those technologies that you called out, is there one? I mean, I know Tesla calls out AI in the second paragraph, you know, of their summary here in the deck. Is there one in your view that is, um, maybe not even the needle mover on the stock, but just, as you mentioned, around the story of Tesla, the thing that maybe we're talking about in a year if we can move past, um, you know, kind of Musk's government era, let's say. You know, I think the, the most excitement, um, among investors, among, uh, retail investors, which are very important for the stock, and then institutional investors as well, is, um, is autonomous and obviously the Robo taxi and how the Robo taxi adopts that. Um, I don't know how transparent they're going to be about the use of teleoperation engineers. Waymo is not transparent. Waymo does not tell people what that ratio is. You know, I've heard that it's actually well above one, which means more than one driver per car. You know, I understand the, uh, the tolerance for zero accidents. Um, you know, but, uh, Tesla could, uh, easily put out comparable data, and I think they're going to do a lot better than, uh, than one per car or two per car, which is what I've been hearing about Waymo. And, uh, you know, I think their cars are going to be pretty slick and cool. So stay tuned. We may actually see the mock-ups of this vehicle that, uh, we got to see the, uh, the stampings of the, uh, the frame rails out, uh, outside in Texas with some aerial photographs earlier this week.
