Plug Power, Inc. (NASDAQ: PLUG) shares are trading lower Friday after the company reported worse-than-expected third-quarter financial results on Thursday.
The Details:
Plug Power reported quarterly losses of 47 cents per share, missing the consensus estimate of 30 cents by 56.67% and representing a 56.67% increase over losses of 30 cents per share year-over-year. The company also reported quarterly sales of $198.71 million, missing the analyst consensus estimate of $237.92 million by 16.48%.
Plug Power said it expects to generate losses for the foreseeable future, and existing cash and ...