Plug Power stock soars 12%, as restatement removes overhang of uncertainty

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Plug Power stock soars 12%, as restatement removes overhang of uncertainty

Tiger Newspress2021-05-14

(May 14) Plug Power soars 12.48% in pre-market aftercompleting the restatementof previously issued financial statements for FY 2018 and FY 2019and quarterly filings for 2019 and 2020, and filing its FY 2020 annual report.

As expected, the adjustments did not affect Plug's cash position, business operations or economics of commercial arrangements, and there were no changes to gross billings.

Adjustments from the restatement and finalization of the 2020 annual report had a $0.10/share negative impact to 2020 earnings and a $0.03 negative impact to 2018 earnings.

For Q1 2021, Plug says it expects to report net revenue above $67M and gross billings above $70M.

For Q2, the company still sees net revenue above $102M and gross billings above $105M.

The company continues to forecast previously stated annual gross billings targets of $475M in 2021, $750M in 2022 and $1.7B in 2024.

Several analysts recently expressed confidence in the company, as this week's updates helped to "dissipate the shroud of uncertainty hanging over Plug shares."

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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desjou
·2021-05-19
It is a good progress
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Venture118f
·2021-05-17
Plug liao [Spurting]
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TingZZ
·2021-05-17
Pls like n comment. Thanks
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JamesNgHS
·2021-05-17
Great
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DY17
·2021-05-16
Bullish on $PLUG
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PanaCota
·2021-05-16
Ok
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3
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- BBBBBBBBBB:
  Hiii
  2021-05-17
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ivy888
·2021-05-16
Ok
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TeslaLegend
·2021-05-16
I’m buying the dip ?
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2
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Ccl2
·2021-05-16
Like n comment
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2
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- TeslaLegend:
  Done
  2021-05-16
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- Miloh:
  Help Too
  2021-05-16
  Reply
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Timtan85
·2021-05-16
Pls like and comment
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3
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- Rep:
  reply me back too
  2021-05-16
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- Zfron:
  Comment back pls
  2021-05-16
  Reply
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Khairul0802
·2021-05-16
Okkkk
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1
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DiamondsHand
·2021-05-16
Crazy
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ctanya
·2021-05-16
$Plug Power(PLUG)$wow, what a comeback! $Quantumscape Corp.(QS)$$FuelCell(FCEL)$ will it affect other similar counters?
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- yuk1:
  [保佑]
  2021-05-18
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- Ll huat:
  Hope so
  2021-05-18
  Reply
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- Kenny77:
  Maybe
  2021-05-16
  Reply
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MNCoffee
·2021-05-16
Ouch
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- JHFG:
  ok
  2021-05-16
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- dtjj16:
  poggers
  2021-05-16
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aozora
·2021-05-15
Finally
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6
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- SSVC:
  [强][握手]
  2021-05-15
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超群yibo
·2021-05-15
Finally over. Back on my radar
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- Xkuanx:
  Good
  2021-05-15
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DL97
·2021-05-15
Comments pls. Tq
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- DL97:
  Ok
  2021-05-17
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- DL97:
  Ra
  2021-05-17
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- DL97:
  Tq
  2021-05-17
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GenieLim
·2021-05-15
13 快再見
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billings above $105M.The company continues to forecast previously stated annual gross billings targets of $475M in 2021, $750M in 2022 and $1.7B in 2024.Several analysts recently expressed confidence in the company, as this week's updates helped to \"dissipate the shroud of uncertainty hanging over Plug shares.\"","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":194670353,"gmtCreate":1621380326672,"gmtModify":1704356553836,"author":{"id":"3581584088738895","authorId":"3581584088738895","name":"desjou","avatar":"https://static.tigerbbs.com/f03e57119c8ea5a2c5d3442df87f497a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581584088738895","authorIdStr":"3581584088738895"},"htmlText":"It is a good progress","listText":"It is a good progress","text":"It is a good 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