Plug Power Inc (NASDAQ: PLUG) is having an overwhelmingly rough start to the trading session today, and for good reason. The company released its earnings for the first quarter, missing expectations on both the top and bottom line figures. As a result, fear hit investors, causing the stock to go for an early morning dive. Of course, our partners at Trade Ideas were the first to alert us to the declines. At the moment (9:31), PLUG is trading at $2.00 per share after a decline of $0.26 per share or 11.68% thus far today.
PLUG Misses Expectations In Q1
As mentioned above, Plug Power released its earnings report for the first quarter, missing expectations on both the top and bottom line. Here’s what we saw from the report…
- Earnings Per Share – In terms of earnings per share, PLUG reported a loss of $0.13 per share. That missed analyst expectations by $0.06 per share.
- Revenue – Revenue was no silver lining either. In fact, the company reported revenue at $15.24 million for the quarter, missing analyst expectations by $9.66 million and showing a decline of 0.6% year over year.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on PLUG. In particular, we’re interested in seeing what the company does to pick itself back up from this horrible report. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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