Plug Power (PLUG - Get Report) shares fell 10% on Tuesday after the firm psted a loss almost twixce as large as analysts expected., which last month saw its shares jump handsomely on a partnership agreement with Amazon, said on Tuesday that it lost 13 cents a share on $15.2 million revenue, while analysts had expected it to lose just 7 cents a share, and revenue of $24.9 million.
The company, which last month saw its shares jump handsomely on a partnership agreement with Amazon, said on Tuesday that it lost 13 cents a share on $15.2 million revenue, while analysts had expected it to lose just 7 cents a share, and revenue of $24.9 million.
The company further confirmed its 2017 confirmed full-year 2017 revenue guidance at $130.0 million and gross margins of 8% to 12%.
"After considering our year-to-date performance and expected results for the remainder of the year, we are reiterating our full-year 2017 guidance metrics. We have good visibility with our current order book and backlog to support our activities for the rest of the year and are focused on further enhancing our performance as the year progresses," the firm said in a press release on Tuesday.
Also, Plug said it would work with Amazon to develop new fuel cell technology.
Plug said it granted Amazon warrants to buy up to 55.3 million of its common shares at $1.1893 per share. That exercise price is based on the volume weighted average closing price of Plug shares for the previous 30 days.
Plus shares traded recently at $2.23, up 93 cents, or 71.54%.
Other fuel cell companies were mixed on Tuesday, with Fuel Cell Technologies (FCEL - Get Report) shedding about 2%, to $1.10and Ballard Power (BLDP - Get Report) adding about 2%, to $52.10
adding 12% and 6% respectively.
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