Posted 3/1/2024, 4:43:30 PM
Plug Power Stock Slides After Weaker-Than-Expected Earnings
- Plug Power reported disappointing Q4 results, missing revenue estimates ($891.3M vs $915.6M expected) and wider EPS loss than anticipated ($-1.08 vs $-0.37 loss expected)
- CEO said cash management will be a focus in 2024
- An investor willing to provide an additional $1B in capital if needed, reducing liquidity concerns
- Plug Power stock is down over 4% in morning trading on the earnings news
- Wall Street analysts have a $5.30 average price target on PLUG stock, implying 48% upside potential from current levels