Movement Alert|Plug Power Rises 17.54% in Regular Trading, Q2 Earnings Beat on Both Top and Bottom Lines with Loss Narrowing 61%

Market Focus
Aug 11

On August 11, Plug Power rose 17.54% in regular trading, trading at $2.455/share, with turnover of $56.08 million.

On the news front, the company reported Q2 adjusted loss per share of $0.07, better than the consensus estimate of $0.08; revenue came in at $178.3 million, exceeding the expected $169.1 million. Compared to a loss of $0.18 per share in the year-ago period, the loss narrowed approximately 61%, extending the improvement trend for a third consecutive quarter.

In Q1, the company had already delivered revenue growth of 22% year-over-year with electrolyzer revenue surging 343%. The continued beat this quarter has further bolstered market confidence in management's target of achieving positive EBITDA by year-end. Multiple analysts had previously raised price targets following Q1 results, with B. Riley maintaining a Buy rating and UBS adjusting its target to $4.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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