The company reported an adjusted loss of $5.8 million, of 4 cents a share, which matched the consensus estimate. Revenue rose 130.7% year-over-year to $17.3 million, which beat analysts' estimates of $16.73 million. Plug Power also announced it shipped 687 GenDrive fuel-cell units in the second quarter to customers such as Walmart (WMT) and Procter & Gamble (PG).
The stock was up 4.8% to $6.14 at 10:08 a.m. More than 20 million shares had changed hands, compared to the average volume of 15,851,700.
Must Read: Warren Buffett’s 25 Favorite StocksEXCLUSIVE OFFER: See inside Jim Cramer’s multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE. Separately, TheStreet Ratings team rates PLUG POWER INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation: "We rate PLUG POWER INC (PLUG) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income and weak operating cash flow." You can view the full analysis from the report here: PLUG Ratings Report PLUG data by YCharts
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