By midmorning, shares were -5.4% lower to $6.33.
In an SEC filing, the company said it would offer 15 million shares, plus grant underwriters a 30-day option to purchase up to an additional 2.25 million shares. Following the offering, Plug Power will have as many as 123.44 million shares outstanding.
The alternative fuel company said it plans to use net proceeds for "working capital and general corporate purposes, which may include capital expenditures and potential acquisitions."
- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Electrical Equipment industry. The net income has significantly decreased by 240.8% when compared to the same quarter one year ago, falling from -$8.47 million to -$28.88 million.
- Net operating cash flow has significantly decreased to -$8.94 million or 93.52% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
- PLUG POWER INC's earnings per share declined by 27.3% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, PLUG POWER INC continued to lose money by earning -$0.79 versus -$0.94 in the prior year. This year, the market expects an improvement in earnings (-$0.09 versus -$0.79).
- Compared to its closing price of one year ago, PLUG's share price has jumped by 4325.00%, exceeding the performance of the broader market during that same time frame. Regarding the future course of this stock, we feel that the risks involved in investing in PLUG do not compensate for any future upside potential, despite the fact that it has seen nice gains over the past 12 months.
- The revenue growth greatly exceeded the industry average of 4.7%. Since the same quarter one year prior, revenues rose by 35.6%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
- You can view the full analysis from the report here: PLUG Ratings Report
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