Plug Power Inc (NASDAQ:PLUG) shares are trading marginally higher Friday morning as investors digest a series of strategic wins that bolster the hydrogen fuel cell maker’s global footprint and financial outlook. Here’s what investors need to know.
- Plug Power stock is showing upward movement. Why is PLUG stock trading higher?
What To Know: The latest catalyst is an agreement announced Thursday to supply a 5 MW PEM electrolyzer to Hy2gen for the Sunrhyse project in France. This partnership marks a significant step in Plug's European expansion strategy, aiming to scale RFNBO-certified hydrogen production for logistics and industrial users in the Provence-Alpes-Côte d’Azur region.
Momentum has also been building following Plug's first-ever contract with NASA. The $2.8 million award to supply liquid hydrogen to the Glenn Research Center signals a strategic expansion into the high-specification aerospace sector.
On the financial front, the company recently completed a balance sheet restructuring, closing a $431.25 million convertible note offering due 2033. Proceeds were used to retire costly 15% debt, a move expected to save approximately $20 million annually in interest. CEO Andy Marsh called this financing a “major turning point” that fully funds the company’s current operating plan.
Looking ahead, Plug reiterated its target for positive EBITDA by late 2026. However, analysts note that risks remain, specifically citing an upcoming Jan. 15 shareholder vote to increase authorized shares to 3 billion.
Benzinga Edge Rankings: Reflecting this increased market activity, Benzinga Edge data currently assigns Plug Power a robust Momentum score of 98.73.
PLUG Price Action: Plug Power shares were up 1.79% at $2.26 at the time of publication on Friday, according to Benzinga Pro data.
How To Buy PLUG Stock
By now you're likely curious about how to participate in the market for Plug Power – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
In the case of Plug Power, which is trading at $2.25 as of publishing time, $100 would buy you 44.44 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
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