PLUG - Plug Power Inc.
A risk-on tape is lifting high-beta fuel cell names on Thursday, but the group is splitting sharply on the way up. Bloom Energy (NYSE:BE) stock is up 8% to $233.69 in midday trading.
PLUG's electrolyzer revenues hold steady at $54.1 million as major projects and rising green hydrogen demand support growth prospects.
Risk appetite is drifting back into the hydrogen and fuel cell corner Thursday, and the market is sorting the group by share price rather than fundamentals. Plug Power (NASDAQ:PLUG) stock is up 4% to $2.
Plug Power (NASDAQ:PLUG) stock is down 5% to $2.16 in midday trading Wednesday, leading a pullback across the fuel cell pure plays.
Plug Power stock has pulled back sharply in recent months, sliding nearly 48% from its year-to-date high of $4.33 to $2.27. The retreat comes even as the company's turnaround strategy takes shape, with short interest remaining stubbornly elevated throughout the decline.
A congressional disclosure just turned one fuel cell stock into the morning's biggest mover, but the filer's cost basis tells a very different story than today's price tag.
BlackRock Inc. lifted its stake in shares of Plug Power, Inc. (NASDAQ: PLUG) by 21.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 184,032,469 shares of the electronics maker's stock after purchasing an additional 31,939,194 shares during the quarter. BlackRock Inc.
Plug Power reported better-than-expected second-quarter results, with both sales and non-GAAP profitability outperforming expectations as the company continues to benefit from recent restructuring and cost-reduction initiatives. On the conference call, management raised full-year sales guidance slightly and reiterated expectations for achieving positive adjusted EBITDA in the fourth quarter. While gross margins continued to improve, cash burn remained elevated and the company's backlog decreased to new multi-year lows.
Investors should be wary of Plug Power's comeback.
Bloom Energy's revenue has surged to $1.1 billion quarterly while Plug Power stagnated near $178 million, widening a gap that shapes competitive positioning.
The hydrogen and fuel-cell trade is splitting in two Monday, and the sector fund tells almost none of that story.
Plug Power and Bloom Energy will benefit from a sustained turnaround in the hydrogen industry.
The hydrogen trade is splitting Friday, refusing the tidy “yesterday's rout reverses” script that a bounce after Thursday's selloff might have suggested.
Hydrogen and fuel cell names are selling off together Thursday afternoon, and the damage is spreading unevenly across the group.
Hydrogen and fuel cell stocks are sliding Tuesday morning as the 10-year Treasury note yield sits near the top of its 52-week range.
Plug Power tested its proton exchange membrane hydrogen fuel cells as a backup power system in collaboration with Microsoft. CEO Jose Luis Crespo emphasized that the collaboration doesn't indicate a strategy shift.
Plug Power Inc. (NASDAQ:PLUG) shares are trading higher on Friday as traders lean into gross margin breakeven progress and improving business mix.
Plug Power (NASDAQ: PLUG - Get Free Report) and EZGO Technologies (NASDAQ: EZGO - Get Free Report) are both industrials companies, but which is the better stock? We will contrast the two businesses based on the strength of their profitability, valuation, earnings, dividends, risk, analyst recommendations and institutional ownership. Earnings and Valuation This table compares Plug Power
Plug Power's revenue is rising, and its costs are falling. The company achieved breakeven gross margin in the second quarter.
Plug Power, Inc. (NASDAQ: PLUG - Get Free Report) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 87,770 call options on the company. This is an increase of approximately 44% compared to the typical daily volume of 60,742 call options. Plug Power Stock Performance Shares of PLUG opened at $2.22