Why Plug Power Inc.'s Shares Dropped in August
The early summer months were all about projecting a brighter future for Plug Power Inc. (NASDAQ: PLUG), but in August investors were focused on results right now. Second-quarter 2017 results were released on Aug. 8, and that's when Plug Power's stock fell, resulting in a 5.3% decline for the month, according to data from S&P Global Market Intelligence, and the company has a lot to prove in the future.
Plug Power has announced a major deal with Amazon.com and an expanded deal with Wal-Mart, but it hasn't been able to show much progress on the income statement. Revenue for the second quarter rose just 1.6% to $20.8 million, and net loss more than tripled to $42.6 million. The problem is that Plug Power can't even record a positive gross margin, and operating expenses nearly doubled to $24.5 million in the quarter.
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Source: Fool.com
Plug Power Inc. Stock
Our community is currently high on Plug Power Inc. with 27 Buy predictions and 13 Sell predictions.
Based on the current price of 1.73 € the target price of 7 € shows a potential of 304.62% for Plug Power Inc. which would more than double the current price.
