Why Plug Power And FuelCell Shares Are Trading Higher Today

Plug Power Inc PLUG and FuelCell Energy Inc FCEL shares are trading higher by 6% and 1.5%, respectively, after Plug Power reported first-quarter earnings results.

Plug Power reported quarterly losses of 12 cents per share, which missed the analyst consensus estimate of a loss of 8 cents per share. This is unchanged from the same period last year.

Plug Power also reported quarterly sales of $72 million, which missed the analyst consensus estimate of $76.87 million. This is a 76% percent increase over sales of $40.81 million in the same period last year.

Plug Power provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe.

FuelCell Energy designs manufactures, sells, installs, operates and services fuel-cell products, which efficiently convert chemical energy in fuels into electricity through a series of chemical reactions.