Plug Power Just Reported Record Output. Should You Buy PLUG Stock Here?

Plug Power (PLUG) shares pushed notably to the upside today after the clean energy firm said its Georgia green hydrogen facility reached record production of 324 metric tons in August 2025. 

The hydrogen fuel cell specialist also recorded impressive operational metrics of 97% uptime and 99.7% availability, validating the commercial scalability of PLUG’s GenEco electrolyzer tech. 

While Plug Power stock has reversed its gains in recent hours, it’s still trading roughly 250% above its year-to-date low at the time of writing. 

What Makes Plug Power Stock Worth Owning in 2025?

For investors interested in gaining exposure to the clean energy market, PLUG stock sure presents a compelling opportunity. 

The fuel cell innovator secured a substantial $1.66 billion loan guarantee from the U.S. Department of Energy, strengthening confidence in its expansion plans. 

The growing interest from data centers and artificial intelligence (AI) applications as evidenced in Nvidia’s (NVDA) latest $100 billion deal with OpenAI further reinforces Plug Power’s market position. 

Why PLUG Shares May Still Be a High-Risk Bet

Plug Power’s facility may have reached record output, but beneath the surface lie material financial challenges that warrant careful consideration. 

The company’s trailing 12-month revenue of nearly $673 million is overshadowed by a substantial net loss of $1.97 billion, while a negative profit margin of nearly 334% is another big reason for concern. 

PLUG’s path to positive EBITDA remains distant as well, with projections indicating profitability may not be achieved until the final quarter of 2026. 

Plug Power shares’ current trading dynamics present additional complexities. With more than 30% of the float sold short, the recent rally shows characteristics of a potential short squeeze, signaling volatility ahead. 

Wall Street Rates Plug Power at ‘Hold’ Only

Investors should also note that Wall Street recommends caution with Plug Power stock. 

The consensus rating on PLUG shares currently sits at “Hold” only with the mean target of roughly $2 indicating potential downside of about 20% from here.