Plug Power (PLUG) Stock Tumbling Today on Earnings Miss
NEW YORK (TheStreet) -- Shares of Plug Power Inc. (PLUG) - Get Report are down by 9.05% to $2.50 in mid-morning trading on Tuesday, after the fuel cell maker posted a wider than expected loss for the 2014 fourth quarter and sales that fell short of analysts' expectations.
For the most recent quarter Plug Power reported an adjusted loss of 8 cents per share, compared to the loss of 4 cents per share analysts polled by FactSet had forecast.
Revenue for the latest quarter was $21.5 million versus the $26.3 million analysts were anticipating.
On a non-adjusted basis Plug Power reported a net loss of $7.2 million, or a loss of 4 cents per share, narrower than the net loss of $28.9 million, or a loss of 28 cents per share for the fiscal 2013 fourth quarter.
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 a few notable weaknesses, 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 weak operating cash flow and generally disappointing historical performance in the stock itself."
You can view the full analysis from the report here: PLUG Ratings Report
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