Zinger Key Points
- Plug Power stock is higher by 28% since Monday's open, despite a lack of company-specific news for the week.
- Shares fell in November notably due to a "going concern" alert.
- Discover Fast-Growing Stocks Every Month
Plug Power Inc PLUG shares are trading higher by 8.9% to $4.40 Friday afternoon. The stock is higher by 28% since Monday's open, despite a lack of company-specific news for the week.
The stock might be staging a recovery to start December following a significant decline in November triggered by the company's announcement of third-quarter EPS and sales results that fell below expectations.
Recent News: 4 Analysts Slash Plug Power Stock Outlooks
What Happened With Earnings Last Month?
Plug Power's stock dropped last month notably due to a "going concern" alert stemming from a substantial deficit, cash flow issues and predicted losses totaling $3.8 billion.
The company cited challenges in the hydrogen network for its disappointing third-quarter performance, falling short of expected revenue and posting a net loss of 47 cents per share.
With concerns about its financial standing, Plug Power raised doubts about staying operational for the next year due to insufficient funds, sparking worries about its future viability...Read More
According to data from Benzinga Pro, Plug Power has a 52-week high of $18.88 and a 52-week low of $3.22.
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