Plug Power (PLUG -5.81%) believes its focus on building a leading hydrogen network will lead to robust growth over the next few years. The company estimates it can grow its revenue from $1.2 billion last year to $20 billion by 2030, a 50% compound annual rate. However, its troubling financial picture could stunt its growth. Because of that, investors should forget about investing in Plug Power and consider Brookfield Renewable (BEPC -1.42%) (BEP -1.51%) and NextEra Energy (NEE -0.74%) instead. While they do ...

It hasn’t exactly been a compelling year for Plug Power (NASDAQ:PLUG), as shares of the green hydrogen company are down by nearly 20% year-to-date (YTD). This comes despite the resumption of liquid hydrogen production at Plug’s Tennessee facility and the start of hydrogen production at its new plant in Georgia. In total, the two plants have a daily liquid hydrogen production capacity of 25 tons.Last week, Plug also unveiled its new cost-cutting plan, which is expected to save $75 million per year. The plan ...

The deadline for institutional investors to file their quarterly 13F is officially over, meaning that the public now has the opportunity to view the positions of top investors as of Dec. 31.Saudi Arabia’s Public Investment Fund (PIF) is a popular investor to track, as its 13F portfolio includes 50 positions spread across $35.24 billion. Unfortunately for shareholders of Plug Power (NASDAQ:PLUG) stock, PIF sold off its entire stake of 5.67 million shares during the fourth quarter.PIF first bought shares of P ...

The latest trading session saw Plug Power (PLUG) ending at $4.23, denoting a +1.44% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.96%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 1.3%.The the stock of alternative energy company has risen by 37.17% in the past month, leading the Industrial Products sector's gain of 3.67% and the S&P 500's gain of 3.69%.The investment community will be closely monitoring the performance of Pl ...

Plug Power (NASDAQ:PLUG) stock opened in the green today after the company announced a plan that would reduce its annual operational expenses by $75 million. Plug expects to incur a one-time $15 million implementation cost to initiate the plan. The plan includes four pillars: operational consolidation, strategic workforce adjustments, additional cost-saving measures and a commitment to shareholders.“The implementation of this strategic plan is essential for Plug to sustain its market leadership and continue ...

Plug Power Inc (NASDAQ: PLUG) is trading up in premarket on Wednesday after announcing a plan to lower its annual operational costs by over $75 million$PLUG to cut unspecified number of jobsCopy link to sectionThe hydrogen fuel cells company expects implementation of that initiative to cost it $15 million (one-time). $PLUG also confirmed that a yet to be determined number of employees will lose jobs as part of the cost cut programme. According to Andy March – the chief executive of Plug Power Inc:The implem ...

Plug Power Inc. plans to eliminate jobs and take other cost-cutting measures through an initiative meant to save $75 million a year, the company said Wednesday. The alternative energy company “will undertake strategic adjustments to its staffing levels,” it said in a release. The cuts are “made in the interest of preserving the company’s agility and innovation capacity.” The company didn’t disclose the scale of the layoffs in the release. A... Master your money. Subscribe to MarketWatch. Get this a ...

LATHAM, N.Y., Feb. 14, 2024 (GLOBE NEWSWIRE) -- In a strategic move to enhance its financial performance and ensure long-term value creation in a competitive market, Plug Power Inc. (NASDAQ:PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, today announced a comprehensive initiative designed to significantly reduce its annual operational expenses by more than $75 million. This ambitious plan will be executed with an expected one-time implementation cost of $15 million ...

New inflation data has the stock market showing red today. But it was especially bad news for some companies, and Plug Power (PLUG -10.07%) is one of them. That's why Plug shares plunged as much as 10.7% Tuesday morning. As of 11:30 a.m. ET, Plug Power shares remained down by 9.7%.Today's action reverses what had been a nice upswing in Plug Power stock. Over the last month, shares in the hydrogen fuel company have moved higher by almost 20%, even with today's decline.Interest rates will be higher for longer ...

Plug Power (NASDAQ:PLUG) stock is up a tidy 4% today on news that the hydrogen maker delivered “first-of-its-kind” portable liquid hydrogen refuelers to several transit firms and trucking fleets. Plug’s HL-450D-P purportedly offers the benefits of a complete hydrogen fueling station on an easily transportable platform, requiring only a single electrical connection.The product was designed to help improve time and efficiency costs for medium and large hydrogen-powered commercial vehicles. Per Andy Marsh, Plu ...