Plug Power (PLUG)
Market Price (10/6/2026): $1.915 | Market Cap: $2.7 BilSector: Industrials | Industry: Electrical Components & Equipment
Plug Power (PLUG)
Market Price (10/6/2026): $1.915Market Cap: $2.7 BilSector: IndustrialsIndustry: Electrical Components & Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Hydrogen Economy. Themes include Green Hydrogen Production, Fuel Cell Technology, and Hydrogen Infrastructure. | Weak multi-year price returns2Y Excs Rtn is -51%, 3Y Excs Rtn is -156% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -502 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -67% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.4% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -65%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -75% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -66% Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 21% Short seller report Key risksPLUG key risks include [1] a persistent history of unprofitability and a high cash burn rate that raises liquidity concerns, Show more. |
| Megatrend and thematic driversMegatrends include Hydrogen Economy. Themes include Green Hydrogen Production, Fuel Cell Technology, and Hydrogen Infrastructure. |
| Weak multi-year price returns2Y Excs Rtn is -51%, 3Y Excs Rtn is -156% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -502 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -67% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.4% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -65%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -75% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -66% |
| Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 21% |
| Short seller report |
| Key risksPLUG key risks include [1] a persistent history of unprofitability and a high cash burn rate that raises liquidity concerns, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Plug Power (PLUG) stock has lost about 30% since 6/30/2026 because of the following key factors:
1. Macroeconomic Headwinds and Rising Borrowing Costs: The company's stock movement was significantly impacted by broader macroeconomic trends, specifically the surge in the 10-year Treasury yield to 5.14% by late September 2026, reaching levels last observed in 2007. This increase in borrowing costs across the economy disproportionately affects growth companies like Plug Power, which often rely on external capital for their ambitious expansion plans and whose future earnings are discounted more heavily in a high-interest-rate environment.
2. Persistent Unprofitability and Cash Burn Concerns: Despite reporting better-than-expected revenue of $178.3 million for fiscal Q2 2026 (ended June 2026), exceeding consensus estimates by 5.6%, and an improved gross margin nearing break-even, Plug Power continues to face significant investor skepticism due to its history of substantial losses. Analysts project the company to remain unprofitable through 2026 and 2027. Furthermore, the company's net cash usage in fiscal Q2 2026 was approximately $61 million, perpetuating concerns about its cash burn and potential future share dilution.
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Plug Power (PLUG) stock has lost about 30% since 6/30/2026 because of the following key factors:
1. Macroeconomic Headwinds and Rising Borrowing Costs: The company's stock movement was significantly impacted by broader macroeconomic trends, specifically the surge in the 10-year Treasury yield to 5.14% by late September 2026, reaching levels last observed in 2007. This increase in borrowing costs across the economy disproportionately affects growth companies like Plug Power, which often rely on external capital for their ambitious expansion plans and whose future earnings are discounted more heavily in a high-interest-rate environment.
2. Persistent Unprofitability and Cash Burn Concerns: Despite reporting better-than-expected revenue of $178.3 million for fiscal Q2 2026 (ended June 2026), exceeding consensus estimates by 5.6%, and an improved gross margin nearing break-even, Plug Power continues to face significant investor skepticism due to its history of substantial losses. Analysts project the company to remain unprofitable through 2026 and 2027. Furthermore, the company's net cash usage in fiscal Q2 2026 was approximately $61 million, perpetuating concerns about its cash burn and potential future share dilution.
3. Challenges in the Green Hydrogen Market and Project Setbacks: The broader green hydrogen industry is undergoing a "reality check," with a considerable discrepancy between announced projects and those that have reached a final investment decision; only 11% of the announced 2030 output has committed capital. Specifically for Plug Power, the cancellation of its hydrogen production facility in New York, as part of a trend of declining green hydrogen projects, was attributed partly to policy changes such as the early sunsetting of the 45V Clean Hydrogen Production Tax Credit, highlighting the ongoing difficulties in securing consistent support and scaling infrastructure.
4. Mixed Analyst Sentiment and Valuation Concerns: While Plug Power announced new electrolyzer supply agreements, such as a 280MW deal for Project ENDOR in Denmark, and received some positive analyst revisions following its fiscal Q2 2026 earnings, the overall analyst consensus remained a "Hold" by late September 2026. The stock was trading near its 52-week low of $1.70 in late September 2026. Several firms maintained or issued "Underweight" or "Sell" ratings, reflecting persistent concerns about the company's valuation, profitability, and the long-term sustainability of its business model within the volatile clean energy sector.
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Stock Movement Drivers
Fundamental Drivers
The -30.3% change in PLUG stock from 6/30/2026 to 10/5/2026 was primarily driven by a -30.6% change in the company's P/S Multiple.| (LTM values as of) | 6302026 | 10052026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.71 | 1.89 | -30.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 740 | 744 | 0.6% |
| P/S Multiple | 5.1 | 3.5 | -30.6% |
| Shares Outstanding (Mil) | 1,390 | 1,391 | -0.1% |
| Cumulative Contribution | -30.3% |
Market Drivers
6/30/2026 to 10/5/2026| Return | Correlation | |
|---|---|---|
| PLUG | -30.3% | |
| Market (SPY) | 3.8% | 47.9% |
| Sector (XLI) | -8.2% | 34.0% |
Fundamental Drivers
The -16.4% change in PLUG stock from 3/31/2026 to 10/5/2026 was primarily driven by a -18.0% change in the company's P/S Multiple.| (LTM values as of) | 3312026 | 10052026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.26 | 1.89 | -16.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 710 | 744 | 4.8% |
| P/S Multiple | 4.3 | 3.5 | -18.0% |
| Shares Outstanding (Mil) | 1,354 | 1,391 | -2.7% |
| Cumulative Contribution | -16.4% |
Market Drivers
3/31/2026 to 10/5/2026| Return | Correlation | |
|---|---|---|
| PLUG | -16.4% | |
| Market (SPY) | 19.4% | 36.8% |
| Sector (XLI) | 5.4% | 18.8% |
Fundamental Drivers
The -18.9% change in PLUG stock from 9/30/2025 to 10/5/2026 was primarily driven by a -19.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 9302025 | 10052026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.33 | 1.89 | -18.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 673 | 744 | 10.6% |
| P/S Multiple | 3.9 | 3.5 | -9.4% |
| Shares Outstanding (Mil) | 1,127 | 1,391 | -19.0% |
| Cumulative Contribution | -18.9% |
Market Drivers
9/30/2025 to 10/5/2026| Return | Correlation | |
|---|---|---|
| PLUG | -18.9% | |
| Market (SPY) | 17.3% | 33.1% |
| Sector (XLI) | 11.3% | 22.4% |
Fundamental Drivers
The -75.1% change in PLUG stock from 9/30/2023 to 10/5/2026 was primarily driven by a -57.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 9302023 | 10052026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.60 | 1.89 | -75.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 880 | 744 | -15.4% |
| P/S Multiple | 5.2 | 3.5 | -31.6% |
| Shares Outstanding (Mil) | 598 | 1,391 | -57.0% |
| Cumulative Contribution | -75.1% |
Market Drivers
9/30/2023 to 10/5/2026| Return | Correlation | |
|---|---|---|
| PLUG | -75.1% | |
| Market (SPY) | 87.5% | 26.6% |
| Sector (XLI) | 74.5% | 23.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PLUG Return | -17% | -56% | -64% | -53% | -8% | -4% | -94% |
| Peers Return | -5% | -12% | -5% | 11% | 77% | 49% | 133% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| PLUG Win Rate | 42% | 33% | 33% | 33% | 50% | 50% | |
| Peers Win Rate | 45% | 43% | 48% | 48% | 63% | 62% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| PLUG Max Drawdown | -73% | -63% | -81% | -66% | -78% | -55% | |
| Peers Max Drawdown | -36% | -38% | -33% | -32% | -35% | -36% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CMI, LIN, APD, BE, BLDP. See PLUG Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/5/2026 (YTD)
How Low Can It Go
| Event | PLUG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -60.5% | -18.8% |
| % Gain to Breakeven | 153.1% | 23.1% |
| Time to Breakeven | 55 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -27.5% | -7.8% |
| % Gain to Breakeven | 37.9% | 8.5% |
| Time to Breakeven | 147 days | 18 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -53.3% | -24.5% |
| % Gain to Breakeven | 114.1% | 32.4% |
| Time to Breakeven | 93 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -51.7% | -33.7% |
| % Gain to Breakeven | 107.2% | 50.9% |
| Time to Breakeven | 99 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -46.8% | -19.2% |
| % Gain to Breakeven | 88.1% | 23.8% |
| Time to Breakeven | 77 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -50.0% | -3.7% |
| % Gain to Breakeven | 100.0% | 3.9% |
| Time to Breakeven | 55 days | 6 days |
In The Past
Plug Power's stock fell -60.5% during the 2025 US Tariff Shock. Such a loss loss requires a 153.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | PLUG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -60.5% | -18.8% |
| % Gain to Breakeven | 153.1% | 23.1% |
| Time to Breakeven | 55 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -27.5% | -7.8% |
| % Gain to Breakeven | 37.9% | 8.5% |
| Time to Breakeven | 147 days | 18 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -53.3% | -24.5% |
| % Gain to Breakeven | 114.1% | 32.4% |
| Time to Breakeven | 93 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -51.7% | -33.7% |
| % Gain to Breakeven | 107.2% | 50.9% |
| Time to Breakeven | 99 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -46.8% | -19.2% |
| % Gain to Breakeven | 88.1% | 23.8% |
| Time to Breakeven | 77 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -50.0% | -3.7% |
| % Gain to Breakeven | 100.0% | 3.9% |
| Time to Breakeven | 55 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -32.9% | -12.2% |
| % Gain to Breakeven | 49.0% | 13.9% |
| Time to Breakeven | 447 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -72.6% | -6.8% |
| % Gain to Breakeven | 264.7% | 7.3% |
| Time to Breakeven | 1492 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -40.9% | -17.9% |
| % Gain to Breakeven | 69.3% | 21.8% |
| Time to Breakeven | 92 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -46.3% | -15.4% |
| % Gain to Breakeven | 86.1% | 18.2% |
| Time to Breakeven | 233 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -83.8% | -53.4% |
| % Gain to Breakeven | 516.2% | 114.4% |
| Time to Breakeven | 4322 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -22.9% | -8.6% |
| % Gain to Breakeven | 29.7% | 9.5% |
| Time to Breakeven | 59 days | 47 days |
In The Past
Plug Power's stock fell -60.5% during the 2025 US Tariff Shock. Such a loss loss requires a 153.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Plug Power (PLUG)
Plug Power Inc. is a leading provider of comprehensive hydrogen fuel cell and green hydrogen ecosystem solutions. The company specializes in proton exchange membrane (PEM) fuel cell technology, fuel processing, and integrated hydrogen infrastructure, encompassing green hydrogen generation, storage, and dispensing. Its core mission revolves around facilitating the adoption of clean, hydrogen-powered energy across a variety of industrial and commercial applications.
Plug Power offers a suite of key products and services tailored for different markets. Its GenDrive systems power electric material handling vehicles like forklifts, supported by GenFuel for liquid hydrogen delivery and GenCare for ongoing maintenance. For stationary power needs, GenSure provides modular fuel cell solutions for backup and grid support in sectors such as telecommunications, transportation, and utilities. The company also produces GenFuel Electrolyzers for clean hydrogen generation and ProGen fuel cell engines, which are utilized in mobility applications including electric delivery vans.
Beyond individual components, Plug Power delivers integrated turn-key solutions through its GenKey offering, assisting businesses in their transition to fuel cell power. The company serves a diverse clientele, including retail distribution and manufacturing businesses, original equipment manufacturers (OEMs), and dealer networks. Strategic partnerships, such as with Airbus for airport decarbonization and Fortescue Future Industries for electrolyzer manufacturing, are expanding its presence into aviation and large-scale green hydrogen production globally.
AI Analysis | Feedback
Here are 1-2 brief analogies for Plug Power:
The **Tesla of hydrogen energy solutions**, building out the entire ecosystem from green hydrogen production and fueling infrastructure to the fuel cells that power industrial equipment and vehicles.
The **Amazon Web Services (AWS) for industrial hydrogen power**, providing comprehensive, turnkey hydrogen infrastructure and services for businesses looking to adopt green energy.
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- GenDrive: A hydrogen-fueled PEM fuel cell system providing power to material handling electric vehicles.
- GenFuel: A liquid hydrogen fueling delivery, generation, storage, and dispensing system.
- GenCare: An ongoing internet of things-based maintenance and service program for Plug Power's fuel cell and hydrogen infrastructure products.
- GenSure: A stationary fuel cell solution offering modular PEM fuel cell power for backup and grid-support in various sectors.
- GenKey: An integrated turn-key solution designed to facilitate the transition to fuel cell power.
- ProGen: A fuel cell stack and engine technology utilized in mobility and stationary fuel cell systems, including electric delivery vans.
- GenFuel Electrolyzer: A hydrogen generator specifically optimized for clean hydrogen production.
AI Analysis | Feedback
Plug Power (PLUG) sells primarily to other companies.
Based on the provided background, Plug Power's major customers and strategic partners with implied customer relationships include:
- Airbus SE (AIR.PA): A strategic partner for decarbonizing air travel and airport operations with green hydrogen. Plug Power would be supplying hydrogen solutions for Airbus's related operations.
- Fortescue Future Industries (part of Fortescue Metals Group: FMG.AX): A strategic partner for manufacturing electrolyzer technology in Australia. Fortescue Future Industries is likely a major customer for Plug Power's electrolyzer technology and related hydrogen production solutions.
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Jose Luis Crespo, President & Chief Executive Officer
Jose Luis Crespo was appointed Chief Executive Officer of Plug Power in March 2026, after serving as President beginning in October 2025 and previously as Chief Revenue Officer. As CEO, Crespo focuses on strengthening execution, operational discipline, and financial performance while maintaining the company's strategic direction. He led Plug Power's commercial organization during a period of significant scale, helping grow revenue from approximately $20 million in 2014 to more than $700 million in 2025. Before joining Plug Power in 2014, Crespo served as Vice President of International Value Stream at Smiths Power, where he successfully integrated two international business divisions.
Paul Middleton, Chief Financial Officer
Paul Middleton joined Plug Power as Chief Financial Officer in 2014. He brings a background in strategy, mergers and acquisitions, controls, and risk management for manufacturing and technology companies. Prior to Plug Power, Middleton worked at Rogers Corp., a global manufacturer and distributor of specialty polymer composite materials and components, for over twelve years, serving in senior financial leadership roles including Corporate Controller, Principal Accounting Officer, Treasurer, and Interim Chief Financial Officer. Before Rogers Corp., he managed all financial administration for the tools division of Cooper Industries. Middleton holds a Master of Science in Accounting and a Bachelor of Business Administration from the University of Central Florida and is a Certified Public Accountant.
Dean Fullerton, Chief Operating Officer
Dean Fullerton joined Plug Power as Chief Operating Officer in August 2024. He is responsible for ensuring the execution, delivery, and service of all customer deliverables, bringing a long track record of success as a leader in the supply chain and logistics engineering industry.
Gerard L. Conway, Jr., Chief Legal Officer
Gerard L. Conway, Jr. joined Plug Power as Associate General Counsel in 2000 and was promoted to General Counsel and Corporate Secretary in 2004. He has served as Senior Vice President since March 2009. As Chief Legal Officer, he advises the company on legal issues such as corporate law, securities, contracts, strategic alliances, and intellectual property. He also oversees governmental affairs, advocating on energy issues, policies, legislation, and regulations at state, federal, national, and international levels on behalf of Plug Power and the alternative energy sector. Prior to joining Plug Power, Conway spent four years as an Associate with Featherstonhaugh, Conway, Wiley & Clyne, LLP, concentrating in government relations, business, and corporate law.
Bridgid Brown, Chief of Staff
Bridgid Brown serves as Chief of Staff to the CEO, Vice President, Managing Counsel, and Interim Executive Vice President of Human Resources at Plug Power. In these roles, she provides strategic and operational leadership across legal, human resources, and executive functions. Brown brings over 25 years of legal and corporate experience, with a career spanning private practice, in-house counsel, and senior management roles.
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Key Risks to Plug Power's Business
- Persistent Unprofitability and High Cash Burn: Plug Power has a prolonged history of not achieving profitability, reporting significant net losses, and experiencing high cash burn rates. This financial strain raises concerns about its ability to sustain operations and fund growth initiatives without consistently relying on external financing, which often leads to dilution for existing shareholders. For example, the company burned through $230 million in cash in Q2 2025 alone.
- Execution Risk and Project Delays: The company's strategy involves the development and deployment of a complex green hydrogen ecosystem, including large-scale production facilities. There is substantial risk associated with the successful execution of these capital-intensive projects, including potential production delays, operational challenges, and the cancellation of significant projects, which can impede revenue growth and margin improvement. The recent decision to cancel the STAMP hydrogen hub, for instance, underscores challenges in financing and delivering very large green hydrogen projects.
- Reliance on Government Subsidies and Policy Shifts: Plug Power's business model is heavily dependent on government subsidies and economic incentives aimed at promoting alternative energy products, such as those provided by the Inflation Reduction Act. Uncertainty, delays in clarification, or potential changes to these policies, including access to loan guarantees from entities like the U.S. Department of Energy, could significantly impact the demand for Plug Power's offerings and its overall financial viability.
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Plug Power (PLUG) operates in several key markets within the hydrogen economy, encompassing hydrogen fuel cells for material handling, stationary power, green hydrogen generation (electrolyzers), and hydrogen fueling infrastructure.
Hydrogen Fuel Cells for Material Handling (Forklifts)
The global market for hydrogen fuel cell forklift trucks is anticipated to reach approximately USD 10.56 billion by 2033, growing from USD 2.57 billion in 2024 at a compound annual growth rate (CAGR) of 16.6% from 2026 to 2033. Another report projects this market to grow from USD 9.6 billion in 2025 to around USD 17.96 billion by 2034, with a CAGR of 35.29%. In 2024, the global market size was estimated at USD 1,615.2 million, with North America holding a significant share of over 40% (USD 646.08 million) and Europe accounting for over 30% (USD 484.56 million).
Stationary Fuel Cells
The global stationary fuel cell market was valued at approximately USD 1.8 billion in 2024 and is projected to grow to about USD 6.3 billion by 2034, exhibiting a CAGR of 13.4% from 2025 to 2034. Other estimates indicate the global stationary fuel cell market size was USD 2.6 billion in 2021 and is expected to reach USD 9.0 billion by 2031, with a CAGR of 13.1% from 2022 to 2031. For stationary fuel cell systems, the global market size was estimated at USD 4.37 billion in 2025. North America held a substantial share of approximately 35% of the global fuel cell for stationary power market in 2023, while Asia-Pacific held around 30% in the same year.
Green Hydrogen Generation (Electrolyzers)
The global electrolyzer market size was valued at USD 1.03 billion in 2024 and is projected to reach approximately USD 956.99 billion by 2034, expanding at an extraordinary CAGR of 98.14% from 2025 to 2034. Another source states the global electrolyzer market size was USD 7.61 billion in 2025 and is projected to reach USD 483.17 billion by 2034, with a CAGR of 59.95%. The PEM electrolyzer market specifically, a technology Plug Power utilizes, was valued at USD 1.4 billion in 2024 and is expected to grow to USD 45.6 billion in 2034, at a CAGR of 30.1% from 2025 to 2034. In 2023, the global green hydrogen electrolyzer market reached US$ 2.20 billion and is expected to reach US$ 17.9 billion by 2031.
Hydrogen Fueling Infrastructure
The global hydrogen fueling infrastructure market is projected to grow from USD 4.00 billion in 2024 to USD 16.18 billion by 2034, at a CAGR of 15% during 2025-2034. North America held the largest share of this market, with 48% in 2024. Another report estimates the global hydrogen fueling station market size at USD 1.00 billion in 2025, projected to reach USD 4.35 billion by 2033, growing at a CAGR of 19.8% from 2026 to 2033. Asia Pacific dominated the hydrogen fueling station market with a market share of 76.86% in 2025. The global hydrogen fueling station market is also expected to increase from USD 586.87 million in 2026 to approximately USD 2,271.60 million by 2035, representing a CAGR of 16.32%. North America held a 42.14% revenue share in 2025.
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Here are the expected drivers of future revenue growth for Plug Power (PLUG) over the next 2-3 years:
- Increased Electrolyzer Sales and Deployments: Plug Power anticipates significant revenue growth from its electrolyzer business, which has already shown substantial year-over-year increases. The company plans to deploy an additional 100 MW of electrolyzers by the end of 2024 and has secured major supply agreements, such as a 3 GW deal for a green hydrogen-to-ammonia project in Australia. This expansion of its GenEco electrolyzer business is a key component of its growth strategy.
- Continued Expansion in Material Handling Market: The material handling sector remains a core revenue driver for Plug Power. The company expects sustained demand and new deployments of its GenDrive fuel cell systems with major customers in retail distribution and manufacturing. The extension of the Investment Tax Credit (ITC) through 2026 is also expected to stimulate customer demand in this segment, leading to new bookings.
- Development of Green Hydrogen Production and Fueling Infrastructure: Plug Power is focused on building out its green hydrogen production capabilities and fueling network across North America and Europe. The commissioning of new hydrogen plants, such as the one in Louisiana, and strategic partnerships are aimed at reducing third-party fuel costs and enhancing margin performance. A significant $1.66 billion loan guarantee from the U.S. Department of Energy will support the construction of several projects to produce and liquefy zero- or low-carbon hydrogen at scale.
- Entry into New Markets and Applications: The company is diversifying its offerings beyond its traditional material handling base, targeting new markets such as data centers, e-mobility, and broader stationary power applications. A strategic initiative to monetize electricity rights in partnership with a major U.S. data center developer highlights this push into new sectors. Plug Power also continues to provide solutions for power generation and industrial applications.
- Geographic Expansion, Particularly in Europe: Plug Power is actively expanding its footprint internationally, leveraging favorable regulatory frameworks in Europe to secure contracts and opportunities. A new partnership with STEF, a European leader in temperature-controlled logistics, is a key step in strengthening its presence in the European market.
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Share Issuance
- In February 2026, Plug Power's stockholders approved an increase in the company's authorized common shares from 1.5 billion to 3.0 billion, which provides flexibility for future capital raises and aims to prevent a reverse stock split.
- Plug Power raised $375 million through a convertible debt offering in November 2025, with proceeds used to retire high-cost 15% secured debt and refinance 2026 convertible notes, thereby simplifying its capital structure and enhancing financial flexibility.
- The increase in authorized shares is intended to allow for fresh equity raises through smaller, staged offerings, supporting funding for fuel-cell plants, hydrogen production expansion, and serving customers.
Inbound Investments
- Plug Power closed a $1.66 billion Department of Energy (DOE) Loan Guarantee program.
- Of the estimated approximately $600 million additional investment required to complete the project associated with the DOE loan, the loan is targeted to cover approximately $400 million.
Capital Expenditures
- Capital expenditures for the full year 2024 decreased by 52% compared to 2023, a result of driving key strategic projects to completion and limiting incremental investments to leverage existing platforms.
- Plug Power anticipates reduced capital expenditures in 2026, which management expects will help alleviate the need for additional equity financing.
- The company has invested over $250 million to date in a project linked to the DOE Loan Guarantee program, with an additional $600 million estimated to be required for its completion, focusing on hydrogen production facilities.
Peer Outperformance in Electrical Components & Equipment
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| PLUG | Plug Power | -4.4% | -1.6x | -50.4% | -71.4% | -92.3% | — |
| ATKR | Atkore | -7.1% | -19.7x | 50.9% | -31.3% | 13.6% | +106pp |
| ST | Sensata Technologies | -2.6% | 69.9x | 40.8% | 20.2% | -17.6% | +75pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 31 | 9.2% | 124.8% | 195.6% | FIX 2178% · STRL 2169% · CDNL 2108% |
| Marine Transportation | 5 | 88.7% | 72.2% | 185.0% | HOS 41216% · MATX 197% · KEX 185% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 2.5% | 50.8% | 104.0% | CAT 382% · ALSN 254% · WAB 238% |
| Aerospace & Defense | 54 | -15.2% | 62.3% | 70.1% | ATI 1049% · FTAI 838% · HWM 629% |
| Trading Companies & Distributors | 19 | 5.6% | 37.7% | 55.1% | DXPE 544% · AIT 289% · WCC 232% |
| Industrial Machinery & Supplies & Components | 72 | 14.3% | 48.0% | 48.6% | CRS 1170% · PSIX 1065% · GHM 618% |
| Rail Transportation | 7 | 19.5% | 60.0% | 46.0% | FSTR 134% · RAIL 63% · CSX 56% |
| Electrical Components & Equipment ← | 39 | 2.9% | 61.3% | 34.2% | POWL 2428% · BE 1433% · VRT 1005% |
| Cargo Ground Transportation | 16 | 34.7% | 4.1% | 31.7% | XPO 278% · R 220% · CVLG 150% |
| Diversified Support Services | 33 | 6.4% | 31.0% | 31.4% | LIME 3059% · TH 387% · CXW 280% |
| Building Products | 33 | -13.9% | 3.2% | 17.6% | LMB 672% · GFF 355% · PPIH 283% |
| Agricultural & Farm Machinery | 17 | 14.3% | 3.1% | -2.1% | BLBD 183% · DE 115% · GENC 60% |
| Industrial Conglomerates | 17 | 9.7% | 1.4% | -3.0% | RCMT 613% · CSW 132% · CSL 74% |
| Environmental & Facilities Services | 30 | -19.6% | 15.6% | -8.8% | CECO 953% · ADUR 432% · NVRI 337% |
| Passenger Ground Transportation | 3 | -28.5% | 41.8% | -11.6% | UBER 48% · CAR -12% · LYFT -71% |
| Research & Consulting Services | 13 | -11.3% | -28.9% | -17.0% | HURN 222% · CRAI 76% · GRNQ 29% |
| Security & Alarm Services | 9 | -39.9% | 38.4% | -21.0% | CIX 160% · MG 113% · NL 75% |
| Data Processing & Outsourced Services | 6 | -34.9% | -15.1% | -27.0% | EXLS 44% · BR 4% · G -24% |
| Office Services & Supplies | 9 | 14.5% | 20.8% | -27.4% | PBI 186% · TILE 131% · HNI 52% |
| Passenger Airlines | 11 | 13.1% | 20.6% | -35.8% | LTM 3185% · UAL 119% · DAL 96% |
| Air Freight & Logistics | 12 | -14.7% | -24.2% | -37.5% | CHRW 78% · FDX 78% · EXPD 78% |
| Human Resource & Employment Services | 22 | 3.6% | -18.9% | -39.9% | BBSI 66% · ADP 42% · KFY 4% |
| Airport Services | 3 | -77.7% | -78.6% | -71.6% | JOBY -37% · ASLE -72% · UP -100% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 286.14 |
| Mkt Cap | 67.3 |
| Rev LTM | 7,858 |
| Op Inc LTM | 1,741 |
| FCF LTM | 294 |
| FCF 3Y Avg | -2 |
| CFO LTM | 2,654 |
| CFO 3Y Avg | 1,733 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.6% |
| Rev Chg 3Y Avg | 2.5% |
| Rev Chg Q | 9.4% |
| QoQ Delta Rev Chg LTM | 2.3% |
| Op Inc Chg LTM | 26.0% |
| Op Inc Chg 3Y Avg | 16.9% |
| Op Mgn LTM | 11.2% |
| Op Mgn 3Y Avg | 4.9% |
| QoQ Delta Op Mgn LTM | 2.3% |
| CFO/Rev LTM | 18.5% |
| CFO/Rev 3Y Avg | 5.5% |
| FCF/Rev LTM | 3.7% |
| FCF/Rev 3Y Avg | -11.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 67.3 |
| P/S | 5.4 |
| P/Op Inc | 19.3 |
| P/EBIT | 20.1 |
| P/E | 12.6 |
| P/CFO | 14.6 |
| Total Yield | 1.4% |
| Dividend Yield | 0.6% |
| FCF Yield 3Y Avg | -4.6% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -6.5% |
| 3M Rtn | -16.2% |
| 6M Rtn | -4.0% |
| 12M Rtn | 5.0% |
| 3Y Rtn | 20.6% |
| 1M Excs Rtn | -6.0% |
| 3M Excs Rtn | -18.6% |
| 6M Excs Rtn | -21.6% |
| 12M Excs Rtn | -10.9% |
| 3Y Excs Rtn | -60.8% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Sales of electolyzers | 188 | 136 | 83 | 28 | 17 |
| Fuel delivered to customers and related equipment | 133 | 98 | 66 | 57 | 47 |
| Power Purchase Agreements | 108 | 78 | 64 | 47 | 35 |
| Sales of cryogenic equipment and liquefiers | 96 | 112 | 232 | 88 | 8 |
| Services performed on fuel cell systems and related infrastructure | 94 | 52 | 39 | 35 | 27 |
| Sales of fuel cell systems | 54 | 52 | 181 | 208 | 225 |
| Sales of hydrogen infrastructure | 27 | 69 | 184 | 142 | 135 |
| Sales of engineered equipment | 7 | 22 | 32 | 93 | 8 |
| Other | 3 | 11 | 11 | 3 | 1 |
| Total | 710 | 629 | 891 | 701 | 502 |
Price Behavior
| Market Price | $1.89 | |
| Market Cap ($ Bil) | 2.6 | |
| First Trading Date | 10/29/1999 | |
| Distance from 52W High | -54.3% | |
| 50 Days | 200 Days | |
| DMA Price | $2.11 | $2.46 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -10.3% | -23.3% |
| 3M | 1YR | |
| Volatility | 55.3% | 82.2% |
| Downside Capture | 358.20 | 339.65 |
| Upside Capture | 127.16 | 200.74 |
| Correlation (SPY) | 47.8% | 33.9% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.86 | 2.49 | 2.44 | 2.23 | 2.38 | 1.80 |
| Up Beta | 0.93 | 0.45 | 3.27 | 1.20 | 1.06 | 0.67 |
| Down Beta | 4.95 | 3.43 | 1.51 | 3.09 | 3.01 | 1.81 |
| Up Capture | 115% | 293% | 153% | 217% | 459% | 1329% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 8 | 19 | 23 | 45 | 99 | 303 |
| Down Capture | 271% | 334% | 302% | 238% | 173% | 113% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 12 | 21 | 37 | 74 | 141 | 420 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PLUG | |
|---|---|---|---|---|
| PLUG | -33.3% | 89.4% | -0.08 | - |
| Sector ETF (XLI) | 11.3% | 17.3% | 0.45 | 23.9% |
| Equity (SPY) | 16.8% | 13.0% | 0.92 | 33.9% |
| Gold (GLD) | 7.0% | 29.6% | 0.23 | 19.4% |
| Commodities (DBC) | 45.9% | 20.9% | 1.71 | 9.2% |
| Real Estate (VNQ) | 1.6% | 13.6% | -0.14 | 5.8% |
| Bitcoin (BTCUSD) | -30.1% | 44.3% | -0.68 | 33.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PLUG | |
|---|---|---|---|---|
| PLUG | -41.9% | 94.3% | -0.15 | - |
| Sector ETF (XLI) | 12.6% | 17.6% | 0.55 | 33.3% |
| Equity (SPY) | 13.3% | 17.2% | 0.59 | 37.6% |
| Gold (GLD) | 18.3% | 18.9% | 0.78 | 12.6% |
| Commodities (DBC) | 10.0% | 19.6% | 0.39 | 10.6% |
| Real Estate (VNQ) | 0.9% | 18.8% | -0.06 | 34.2% |
| Bitcoin (BTCUSD) | 14.9% | 52.2% | 0.45 | 24.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PLUG | |
|---|---|---|---|---|
| PLUG | 1.5% | 89.5% | 0.41 | - |
| Sector ETF (XLI) | 13.3% | 20.0% | 0.58 | 30.9% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 35.2% |
| Gold (GLD) | 11.5% | 16.4% | 0.57 | 8.8% |
| Commodities (DBC) | 8.4% | 18.1% | 0.38 | 15.1% |
| Real Estate (VNQ) | 4.1% | 20.7% | 0.16 | 28.1% |
| Bitcoin (BTCUSD) | 64.0% | 66.2% | 1.04 | 14.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/11/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/10/2026 | 5.2% | 8.1% | 2.8% |
| 5/11/2026 | 1.1% | -2.0% | -18.8% |
| 3/2/2026 | 23.2% | 20.4% | 24.9% |
| 11/10/2025 | -1.2% | -18.6% | -7.8% |
| 8/11/2025 | -2.5% | 5.1% | -8.9% |
| 5/12/2025 | -10.2% | -12.7% | 52.7% |
| 3/3/2025 | 8.0% | 14.0% | -12.7% |
| 11/12/2024 | -4.0% | 0.0% | 25.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 14 | 12 |
| # Negative | 14 | 10 | 12 |
| Median Positive | 7.8% | 11.0% | 16.6% |
| Median Negative | -4.8% | -12.8% | -19.0% |
| Max Positive | 23.2% | 35.3% | 61.6% |
| Max Negative | -40.5% | -29.5% | -32.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/10/2026 | 5.2% | 8.1% | 2.8% |
| 5/11/2026 | 1.1% | -2.0% | -18.8% |
| 3/2/2026 | 23.2% | 20.4% | 24.9% |
| 11/10/2025 | -1.2% | -18.6% | -7.8% |
| 8/11/2025 | -2.5% | 5.1% | -8.9% |
| 5/12/2025 | -10.2% | -12.7% | 52.7% |
| 3/3/2025 | 8.0% | 14.0% | -12.7% |
| 11/12/2024 | -4.0% | 0.0% | 25.6% |
| 8/8/2024 | 0.0% | -2.9% | -22.6% |
| 5/9/2024 | 9.9% | 35.3% | 15.1% |
| 3/4/2024 | -0.8% | 3.3% | -19.3% |
| 11/9/2023 | -40.5% | -29.5% | -31.0% |
| 8/9/2023 | -15.8% | -20.2% | -26.0% |
| 5/9/2023 | -13.8% | -15.5% | 2.8% |
| 3/1/2023 | -6.2% | -3.0% | -20.8% |
| 11/8/2022 | -1.4% | 18.6% | -7.0% |
| 8/9/2022 | 16.7% | 18.3% | 18.0% |
| 5/9/2022 | -5.5% | -12.8% | 11.5% |
| 3/1/2022 | 1.7% | 2.9% | 14.2% |
| 11/9/2021 | -1.3% | 5.9% | -15.5% |
| 8/5/2021 | -0.4% | 1.6% | 1.5% |
| 5/10/2021 | 17.6% | 24.3% | 61.6% |
| 2/25/2021 | -13.6% | -12.7% | -32.0% |
| 11/9/2020 | 7.7% | 24.2% | 52.4% |
| SUMMARY STATS | |||
| # Positive | 10 | 14 | 12 |
| # Negative | 14 | 10 | 12 |
| Median Positive | 7.8% | 11.0% | 16.6% |
| Median Negative | -4.8% | -12.8% | -19.0% |
| Max Positive | 23.2% | 35.3% | 61.6% |
| Max Negative | -40.5% | -29.5% | -32.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/10/2026 | 10-Q |
| 03/31/2026 | 05/11/2026 | 10-Q |
| 12/31/2025 | 03/02/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/03/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/10/2026 | 10-Q |
| 03/31/2026 | 05/11/2026 | 10-Q |
| 12/31/2025 | 03/02/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/03/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/09/2022 | 10-Q |
| 12/31/2021 | 03/01/2022 | 10-K |
| 09/30/2021 | 11/09/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 06/22/2021 | 10-Q |
| 12/31/2020 | 05/14/2021 | 10-K |
| 09/30/2020 | 11/09/2020 | 10-Q |
| 06/30/2020 | 08/10/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 03/10/2020 | 10-K |
| 09/30/2019 | 11/08/2019 | 10-Q |
Recent Forward Guidance
Updated 10/4/2026Latest: Q2 2026 Earnings Reported 8/10/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 EBITDAS | Reported | |||||||
| 2026 Asset Monetization Liquidity Target | Reported | 275.00 Mil | ||||||
| 2026 Revenue Growth | Reported | 15.0% | 15.5% | 16.0% | Raised | |||
Prior: Q1 2026 Earnings Reported 5/11/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Asset Monetization Proceeds | Reported | 142.00 Mil | ||||||
| Q2 2026 Investment Tax Credit Sale | Reported | 39.20 Mil | ||||||
| 2026 Restricted Cash Release | Reported | 50.00 Mil | ||||||
Q4 2025 Earnings Reported 3/2/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 EBITDAS | Reported | Affirmed | Guidance: 0 for 2026 | |||||
| 2027 Operating Income | Reported | |||||||
Q3 2025 Earnings Reported 11/10/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 EBITDAS-positive target | Reported | |||||||
| 2025 Liquidity Improvement | Reported | 275.00 Mil | ||||||
Insider Activity
Updated 10/2/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Haycraft, Benjamin | CSO & GM EMEA | Direct | Sell | 9222026 | 2.14 | 200,000 | 428,300 | 216,825 | Form |
| 2 | Haycraft, Benjamin | CSO & GM EMEA | Direct | Sell | 9152026 | 2.06 | 18,750 | 38,625 | 620,573 | Form |
| 3 | Haycraft, Benjamin | CSO & GM EMEA | Direct | Sell | 9152026 | 2.14 | 13,810 | 29,553 | 684,798 | Form |
| 4 | Helmer, Maureen O | Direct | Sell | 6102026 | 3.23 | 50,000 | 161,620 | 1,039,427 | Form | |
| 5 | Haycraft, Benjamin | CSO & GM EMEA | Direct | Sell | 1142026 | 2.17 | 40,000 | 86,800 | 724,366 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Haycraft, Benjamin | CSO & GM EMEA | Direct | Sell | 9222026 | 2.14 | 200,000 | 428,300 | 216,825 | Form |
| 2 | Haycraft, Benjamin | CSO & GM EMEA | Direct | Sell | 9152026 | 2.06 | 18,750 | 38,625 | 620,573 | Form |
| 3 | Haycraft, Benjamin | CSO & GM EMEA | Direct | Sell | 9152026 | 2.14 | 13,810 | 29,553 | 684,798 | Form |
| 4 | Helmer, Maureen O | Direct | Sell | 6102026 | 3.23 | 50,000 | 161,620 | 1,039,427 | Form | |
| 5 | Haycraft, Benjamin | CSO & GM EMEA | Direct | Sell | 1142026 | 2.17 | 40,000 | 86,800 | 724,366 | Form |
| 6 | Crespo, Jose Luis | See Remarks | Direct | Buy | 12172025 | 2.34 | 37,300 | 87,282 | 719,157 | Form |
| 7 | Haycraft, Benjamin | CSO & GM EMEA | Direct | Sell | 12122025 | 2.20 | 40,000 | 88,000 | 822,380 | Form |
| 8 | Haycraft, Benjamin | CSO & GM EMEA | Direct | Sell | 12122025 | 3.80 | 10,000 | 38,000 | 1,738,815 | Form |
| 9 | Haycraft, Benjamin | CSO & EVP of EMEA Region | Direct | Sell | 11122025 | 2.92 | 10,000 | 29,200 | 1,365,342 | Form |
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Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Electrical Components & Equipment Resources |
| EC&M (Electrical Construction & Maintenance) |
| Electrical Contracting News (ECN) |
| EE Times |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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