Plug Power Misses Q2 Revenues, Analysts Focus On Electrolyzer Deployments: 'The Bar Was Set Low'
Portfolio Pulse from Priya Nigam
Plug Power Inc (NASDAQ:PLUG) reported a revenue miss for Q2, leading to a drop in its stock price. Analysts from HC Wainwright and Truist Securities provided mixed ratings and insights on the company's performance and future outlook, focusing on electrolyzer deployments and cost structure improvements.
August 09, 2024 | 3:40 pm
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NEGATIVE IMPACT
Plug Power reported a significant revenue miss for Q2, leading to a drop in its stock price. Analysts provided mixed ratings, with HC Wainwright maintaining a Buy rating and Truist Securities reiterating a Hold rating. The company's focus on electrolyzer deployments and cost structure improvements were highlighted.
The revenue miss and mixed analyst ratings are likely to drive the stock price lower in the short term. The company's focus on electrolyzer deployments and cost structure improvements may provide some long-term optimism, but the immediate impact is negative.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100