Plug Power Is Growing Revenue, But Profits Remain Elusive
Plug Power (NASDAQ: PLUG) investors have been on a roller-coaster ride this year. The stock fell to a low price of around $20 in May from a high of more than $73 in January. At $33, the stock is still 54% off its high price so far in 2021. The company reported strong revenue growth in the first quarter. It has also recently partnered with Renault, SK Group, and ACCIONA for advancing fuel cells and hydrogen fuel.
Let's see if Plug Power's growth, and the fall in its stock price this year, make it a buy right now.
Plug Power's revenue grew to $72 million in the first quarter, up 76% over the year-ago quarter. An increase in the sales of its GenDrive units, which are largely used to power forklifts, drove the revenue growth.
Source Fool.com
