Plug Power Inc. (NASDAQ:PLUG) shares are trading lower Friday. The decline follows a week of volatile price action. Investors are now shifting focus back to the company’s long-term financial health.
Nasdaq futures are down 1.79% while S&P 500 futures have shed 1.22%.
Fading Momentum After Q1 Beat
Earlier this week, the hydrogen fuel cell maker reported a strong first quarter. Revenue hit $163.5 million, a 22% year-over-year increase. The company reported a quarterly loss of 8 cents per share. This beat analyst expectations of a 9-cent loss.
Despite the post-earnings rally, momentum faded Friday as broader market weakness and lingering skepticism around the hydrogen sector pressured shares.
On Wednesday, Susquehanna analyst Biju Perincheril maintained a neutral rating on …
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