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Inventory in hydrogen fuel-cell know-how firm
is falling after the corporate’s third-quarter gross sales fell in need of analysts’ expectations.
Plug Energy inventory (ticker: PLUG) is off 2.5% in after-hours buying and selling, at $39.70. Shares had closed down 0.5% in common Tuesday buying and selling. The
Dow Jones Industrial Common
dropped 0.4% and 0.3%, respectively.
Plug reported a 19-cent per-share loss from $144 million in gross sales. Wall Avenue was on the lookout for an eight-cent loss and $145 million in gross sales. Earnings don’t matter as a lot as gross sales for Plug—it’s a high-growth firm.
Administration, nonetheless, raised monetary steering for 2022. It now expects to generate about $913 million in gross sales. Prior steering projected about $838 million in gross sales.
Greater steering is