Plug Power “is evaluating several financing options with counterparties, including but not limited to, the Loan Program, strategic project investment partners, and corporate debt facilities,” the company added in its shareholder letter.ĭespite steep losses, executives say the company “has clear short-term goals to improve profitability in the second half of 2023 and position additional cost down initiatives through 2024 as we significantly ramp sales volumes. The stock dropped nearly 6% in Wednesday’s after-hours action. See also: Plug Power wins part in $21.8 million European grant The shares have come off significantly despite the. It has lost more than half its value since Hammond started covering the stock on Jan. Executives expect to see electrolyzer revenue “substantially” rise during the second half of the year.ĭespite the revenue beat, however, Jefferies analyst Sam Burwell noted that the company’s negative gross margin of 30% was below his own 14% assumption and the 9% that he said was implied by consensus expectations. The stock PLUG, -0.94 rose more than 3 Thursday. Plug Power stock falls after agreement to 1.25 million civil. Plug Power’s stock at lowest close in three years as it attracts more short-seller interest MarketWatch. MarketWatch provides the latest stock market financial and business news. Plugs new 2023 sales estimate is ahead of the 1.29B analyst consensus estimate and nearly double the companys 2022 revenues of slightly more than 700M. “Expansion with pedestal customers in material handling and significant growth in cryogenics and liquefaction helped drive revenue growth in the quarter,” the company said in a release. Biden to roll out 7 billion for hydrogen hubs, which are key for meeting. Plug Locate the cover for the spark plug and pull it off exposing the spark. Say Alexa, what are your skills Enable the skill on your Alexa app or directly on. Plus, the average price target for PLUG stock is 25.50, which indicates strong upside potential. Find an Alexa Skill in the Alexa app, the Skills Shop, or ask Alexa. Plug Power Inc.’s long-time Chief Executive Andrew Marsh recorded total compensation of more than 52 million in 2021, a year after the fuel-cell systems company’s. Net revenue increased to $260.2 million from $151.3 million, while analysts had been looking for $237.7 million. Out of 21 analysts, 16 gave Plug Power a buy rating and no sell ratings were observed.
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