new-recommended-broker-banner new-recommended-broker-banner
Practice Stock Trading Your Capitals Is At Risk

Plug Power (PLUG) Stock Climbs as Revenue Increases

Updated: 22 Jun 2021

Plug Power's (NASDAQ: PLUG) share price is on the rise after the company reported its Q1 results, with revenue rising above market expectations.

The hydrogen fuel cell firm's net loss for the quarter widened to $60.75 million or $0.12, compared to a loss of $37.45 million during the same period the previous year. Analysts had predicted a loss of around $0.08 per share.

However, the company's revenue for the quarter rose 76.3% to $71.96 million, beating analyst estimates.

new-recommended-broker-banner

There was a notable rise in sales of fuel cell systems and related infrastructure, which came in at $46.77 million compared to $20.46 million a year ago.

Plug Power shipped 1,308 GenDrive units and had revenue associated with six hydrogen infrastructure systems for the first quarter of 2021 compared to 825 GenDrive units and one hydrogen infrastructure system in the first quarter of 2020.

Plug Power's share price is currently trading at $30.98, after rising 3.79%, adding to its over 435% gain in the past 12 months.

Should You Invest in Plug Power Shares?

One of the most frequently asked questions we receive is, “what stocks are best to buy right now?” It's a wide-ranging question, but one that we have answered… Our AskTraders stock analysts regularly review the market and compile a list of which companies you should be adding to your portfolio, including short and longer-term positions. Here are the best stocks to buy right now

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .