Why Plug Power's And FuelCell's Stocks Are So Charged Up After Hours

Plug Power Inc PLUG shares are trading higher by 7.8% at $28.06 after the company reported better-than-expected second-quarter sales results and raised FY21 guidance.

Plug Power reported quarterly losses of 18 cents per share and quarterly sales of $124.60 million, which beat the analyst consensus estimate of $114.02 million.

In their second-quarter report Plug Power said they remain focused on:

• Accelerate expansion in green hydrogen generation business.
• Successfully launch JVs with Renault and plans to launch JV with SK Group and Acciona in the second half of the year.
• Expand customer relationships across all businesses to achieve $750M in gross billings in 2022.

Clean energy manufacturing peer FuelCell Energy FCEL is trading higher in sympathy by 2.1% at $6.32.

Plug Power provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe. The stock has a 52-week high of $75.49 and a 52-week low of $8.98.

See also: How to Buy Plug Power (PLUG) Stock