Why Plug Power Stock Is Falling

Plug Power Inc PLUG shares are trading lower by 2.1% to $8.86 Friday morning after the company reported mixed second-quarter financial results.

What Happened?

Plug Power this week reported quarterly losses of 40 cents per share, missing the analyst consensus estimate of a loss of 26 cents.

The company reported quarterly sales of $260.18 million, surpassing the analyst consensus estimate of $242.24 million by 7%. This reflects a 72% increase from sales of $151.27 million in the same period last year.

The green hydrogen company said its second-quarter results demonstrate the strength of the company's vertical integration strategy and that margins are poised for a "substantial ramp" as the company continues to scale its multiple offerings...Read More

According to data from Benzinga Pro, Plug Power has a 52-week high of $31.56 and a 52-week low of $7.39.