What's Going On With Plug Power Stock?
Portfolio Pulse from Henry Khederian
Plug Power Inc (NASDAQ:PLUG) shares are trading higher by 2.42% to $9.33, rebounding from last week's weakness. The company reported mixed Q2 financial results with losses of 40 cents per share, missing the analyst consensus estimate of a loss of 26 cents. However, quarterly sales of $260.18 million surpassed the analyst consensus estimate of $242.24 million by 7%, reflecting a 72% increase from the same period last year. The company's vertical integration strategy is said to be strong and margins are expected to ramp up as the company scales its offerings.
August 14, 2023 | 4:50 pm
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Plug Power's mixed Q2 results show higher losses than expected but also higher sales. The company's strong vertical integration strategy and expected margin ramp up could positively impact the stock.
While the company's losses were higher than expected, the higher sales and strong vertical integration strategy could offset this in investors' eyes. The expected margin ramp up as the company scales its offerings could also be a positive sign for the stock's performance.
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IMPORTANCE 75
RELEVANCE 100