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Plug Power Inc (NASDAQ:PLUG) shares are trading marginally higher Monday morning as the company’s expansion deals come into sharper focus, helping to offset lingering investor concerns over recent capital raises.
What To Know: The hydrogen solutions provider recently disclosed a binding supply deal with Allied Biofuels for up to 2 GW of its GenEco PEM electrolyzer systems to support sustainable aviation fuel production in Uzbekistan. This expands its total contracted electrolyzer capacity with Allied partners to 5 GW across two major projects globally.
Despite these operational wins, the stock is grappling with investor fears over dilution following a recent warrant inducement agreement to raise $370 million at $2.00 per share.
The company is strategically focused on its global footprint, also noting the successful first delivery for its H2CAST project in Germany and a partnership with Edgewood Renewables for a renewable fuels facility in Nevada.
Looking ahead, the market awaits the company’s next earnings report, expected on Nov. 14, with an estimated EPS loss of 13 cents and a quarterly revenue estimate of $177.86 million.
Benzinga Edge Rankings: The stock shows a strong Momentum score of 94.70 but a low Growth score of 15.22, according to data from Benzinga Edge.
PLUG Price Action: Plug Power shares were flat at $2.69 at the time of publication on Monday, according to Benzinga Pro data.
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Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Plug Power’s case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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Posted In: PLUG
