The financial market anticipates a loss of 25 cents per share for Plug Power (PLUG) on sales of $277.39 million. This is in contrast to the loss of 33 cents per share on revenue of $161.91 million in the same period a year earlier.
Here’s what you should tune in to: Those who have been carefully investing in Plug Power for the long haul are feeling energized so far in 2023. In comparison to the S&P 500 index’s 4% increase, shares of a clean hydrogen and fuel-cell technology firm have risen by close to 20% so far this year. Still, things aren’t as bright as they seem.
Over the past six months, the stock price has dropped by around 45%, whereas the S&P 500 benchmark has dropped by only 3%. Recent years have been difficult for the business in terms of execution.
Not only were the company’s primary material handling revenues down year over year in the most recent quarter, but the gross margin improvement was also stagnant. On the plus side, the company’s backlog increased from the second to the third quarter, suggesting a rise in future income. The UBS expert Manav Gupta predicts a rise in share prices.
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