Plug Power Inc PLUG shares are trading higher by 5.82% to $7.92 Monday afternoon. The stock is trading higher during Monday's session, despite a lack of company-specific news, potentially amid a rebound after the company last week reported mixed first-quarter results.
Plug Power builds an end-to-end green hydrogen ecosystem, including in the case of EVs—from production, storage and delivery to energy generation. The broader clean energy manufacturing sector has pulled back in 2022 and 2023 amid rising interest rates and concerns about a U.S. economic slowdown.
What Happened Last Week?
Plug Power last week reported first-quarter revenue climbed 49% year-over-year to $210.33 million compared to the consensus estimate of $205.14 million. The company reported a loss of $0.35 per share, wider than the year-ago loss of 27 cents per share.
Analysts, on average, had modeled a loss of $0.26 per share for the quarter...Read More
According to data from Benzinga Pro, PLUG has a 52-week high of $31.56 and a 52-week low of $7.39.
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