Stock Track | Plug Power Plummets 5.47% Intraday After Announcing $375 Million Convertible Note Offering

Stock Track

12/01

Plug Power Inc. (NASDAQ: PLUG) saw its shares drop sharply by 5.47% during intraday trading on Monday, following the company's announcement of a $375 million private offering of convertible senior notes due 2033.

The proceeds from the offering are expected to be used to retire $243 million of high-interest debt and repurchase part of its 2026 convertible notes. While this move supports the company's deleveraging efforts, analysts remain cautious. JP Morgan's Bill Peterson maintained a Neutral rating and withdrew his price forecast, noting that consistent progress on profitability, margins, and cash burn is needed before adopting a more positive outlook.

Despite the drop, Plug Power reiterated its fiscal 2025 and 2026 guidance, projecting improved margins and stronger equipment sales. The company also recently secured a $2.8 million contract with NASA to supply liquid hydrogen, marking its entry into the space industry.

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(NASDAQ: PLUG) saw its shares drop sharply by 5.47% during intraday trading on Monday, following the company's announcement of a $375 million private offering of convertible senior notes due 2033.</p><p>The proceeds from the offering are expected to be used to retire $243 million of high-interest debt and repurchase part of its 2026 convertible notes. While this move supports the company's deleveraging efforts, analysts remain cautious. JP Morgan's Bill Peterson maintained a Neutral rating and withdrew his price forecast, noting that consistent progress on profitability, margins, and cash burn is needed before adopting a more positive outlook.</p><p>Despite the drop, Plug Power reiterated its fiscal 2025 and 2026 guidance, projecting improved margins and stronger equipment sales. The company also recently secured a $2.8 million contract with NASA to supply liquid hydrogen, marking its entry into the space industry.</p>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PLUG","symbol_name":"普拉格能源","start_time":0,"source_url":"","article_id":"1118670450","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1118670450","pubTimestamp":1764600263,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Plug Power Inc. 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