Why Plug Power Inc.'s Shares Plunged 14% Today
Shares of Plug Power Inc. (NASDAQ: PLUG) fell as much as 14.4% in trading Wednesday after the hydrogen fuel cell company released a third-quarter report that showed strong growth, but a massive net loss. At 12:32 p.m. EDT shares were still down 9.6% on the day, and a recovery doesn't seem to be imminent.
Gross revenue more than tripled to $61.4 million, but net revenue only doubled to $35.4 million after accounting for stock warrant provisions. However, Plug Power's net loss more than tripled to $41.0 million, or $0.18 per share.
Image source: Getty Images.
Source: Fool.com
Plug Power Inc. Stock
€2.98
-4.790%
Our community is currently high on Plug Power Inc. with 26 Buy predictions and 11 Sell predictions.
As a result the target price of 5 € shows a very positive potential of 67.53% compared to the current price of 2.98 € for Plug Power Inc..
