Plug Power Shares Drop 3.76% After $700M Contracts Beat; Plans 250 MW Bid
Plug Power shares fell 3.76% to $2.05 after geopolitical tensions halted a rally following an earnings beat with over $700 million in contracted 2025 sales. It plans up to 250 MW of hydrogen electricity in a PJM auction with seven-year contracts, targeting positive EBITDA this year and profitability by 2028.
1. Stock Decline and Market Drivers
Shares fell 3.76% to $2.05 Monday as escalating geopolitical tensions triggered a broad flight to safety that weighed on high-beta and speculative names. Heavy short interest, exceeding 25% of the tradable float, amplified the pullback after last week’s rally.
2. Earnings Beat and Contracted Sales
Last week’s quarterly report delivered revenue modestly above forecasts and disclosed more than $700 million in contracted sales for 2025, alongside improved gross margins. Management also outlined planned asset sales to strengthen liquidity for its 2026 growth plan.
3. PJM Auction Bid and Profitability Targets
The company is preparing to offer up to 250 MW of hydrogen-generated electricity in a PJM Interconnection auction, seeking contracts of at least seven years with data centers and utilities. Under new leadership, it aims for positive EBITDA this year and full profitability by 2028.