Plug Power Inc. (NASDAQ:PLUG) shares are in the spotlight Monday, with earnings due today after the close, revenue growth, margins and cash burn in focus and a technical setup showing a rebound attempt inside a longer downtrend all drawing attention.
- Plug stock is showing exceptional strength. Why is PLUG stock up today?
Earnings Preview & History
Plug is scheduled to report third-quarter earnings today, Nov. 9, after the market closes. Analysts estimate a loss of 6 cents per share along with revenue of $198.87 million. For the prior quarter, Plug reported an adjusted loss of 7 cents per share, beating the consensus estimate of a loss of 8 cents per share and revenue of about $178 million, beating the consensus estimate of $169.41 million. Plug said in a Oct. 15 update that it expects third-quarter revenue growth of more than 10% from a year earlier, and it raised its full-year 2026 revenue growth guidance to 15% to 16% in August.
What to Watch: Revenue Growth, Margins and Cash Burn
Investors will be closely tracking revenue against Plug’s own preliminary estimate of growth above 10%, which would put the third quarter near $195 million or higher, and against full-year guidance of 15% to 16% growth, which implies about $816 million to $824 million.
Margins will also be in focus. Gross margin was near break-even in the second quarter, helped by a $15.7 million release of loss-contract provisions, so analysts will look at how much of the improvement is repeatable. Cash burn will draw attention too, after Plug said in its Oct. 15 update that net cash usage was a record-low of about $28 million for the third quarter, compared with about $61 million in the second quarter.
The company’s goal of reaching positive adjusted EBITDAS by the fourth quarter of 2026 will be watched, along with updates on hydrogen projects, including the Australian hydrogen hub that reached a final investment decision. Plug will also hold its annual Symposium on Nov. 19.
Rebound Attempt Within a Longer Downtrend, with $1.42 to Hold and $1.78 to Reclaim
Plug is bouncing, but the bigger picture is still a rebound inside a longer downtrend, with the stock still below its 200-day average. Over the past six months, the shares rallied from $3.05 on May 11 to a peak of $4.33 on June 2, then unwound sharply to $1.50.
The stock now trades at $1.50, sitting above its 20-day average but below its 50-day and 200-day averages, a mixed setup that matches a rebound attempt inside a broader decline. Momentum is improving in the near term, with MACD above its signal line, but it remains below zero, showing the stock is still working off prior weakness.
A close back below $1.42, the 20-day average, would hand back the latest advance. A move back above $1.78, the 50-day average, would be a step toward repairing the medium-term trend
Plug Shares Rise
PLUG Price Action: At the time of publication, Plug shares are trading 2.07% higher at $1.48, according to data from Benzinga Pro.
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