Plug Power shares fell 24% in July, extending a two-month slide that erased a 100% rally earlier in 2025. The decline came as investors braced for the company's second-quarter earnings release on August 10 and analysts cut price targets, with Susquehanna lowering its target to $2.50 and BMO Capital maintaining a sell rating with a $1.20 objective. The company also announced asset sales, including its Graham, Texas hydrogen project and a phased deal for its New York Gateway site, to raise $80 million as part of a plan to generate up to $275 million, while holding only $162 million in cash as of June 30, 2026. Despite a first-quarter revenue increase of 22% and gross margin improvement from negative 55% to negative 13%, concerns over ongoing cash burn and potential share dilution weighed on the stock.
Plug Power IncAnalysts cut price targets, asset sales to raise cash, and cash burn concerns weigh on stock.
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