Plug Power Inc.(Nasdaq: PLUG) stock rose by 1.99% on Thursday, March 30, 2023. On Thursday, the stock opened at $11.29, the highest traded price was $11.34 and the lowest price was $11.24. The closing price was $11.25.
Plug Power is a hydrogen fuel development company. The company released its financial report for quarter four of 2022 on March 1, 2023. The report shows that the company reported less revenue than the estimated revenue for the last quarter of 2022.
Per the earnings report, estimated revenue for the fourth quarter was $281.21 million, but the company reported $220.70 million, which is 21.52% lower than the estimate.
According to estimates, Plug reported over $218.49 million in the first quarter of 2023. The company generates most of its revenue from North America, Asia, Europe and others.
As per data available on the Plug Power Inc. website, the majority of the company’s revenue is generated from the business of Fuel Cell Systems, Hydrogen Infrastructure, Engineered Equipments, and Cryogenic Equipments and the remaining revenue is generated from Power Purchase Agreements, Fuel Delivering to customers and related equipment and Electrolyzers.
According to data from TradingView, Plug Stock price fell by over 22% in the last 30 days. Moreover, within the year, Plug Stock price fell by 60%.
Plug Power Inc. released its Earnings and Revenue on March 1, 2023. A day after earnings were released, Its stock price dropped by 6.19%. On March 2, 2023, the trading session of Plug Stock opened at $13.64 and hit a high of $13.64; the market closed at $13.33 with a trading volume of 33.037 million.
The fifty-two-week range within which the price hovered was $10.30 to $32.05. Plug Power has a total market capitalization of $6.68 million.
There are over 659 institutional holders of Plug shares, including Vanguard Group Inc. (holds 51,870,529 shares); BlackRock Inc. (holds 50,847,102); Voya Investment Management LLC (holds 17,397,647), and Norges Bank (holds 17,071,628), including Morgan Stanley and several others.
According to Crunchbase, Plug Power Inc. has acquired eight companies since 2007: Cellex Power Product, ReliOn, American Fuel Cell, EnergyOR, United Hydrogen Group, Giner ELX, Applied Cryo Technologies and Joule Processing.
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Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/03/31/plug-stock-rose-over-1-50-intraday-loses-22-in-a-month/