Overview

• Shares hit a 52-week high of $4.58 on Oct. 6 after a five-week gain of about 163%, reversing year-to-date declines by late August.
• Plug delivered its first 10 MW electrolyzer to Galp’s Sines refinery on Oct. 1 under a 100 MW contract, with nine additional units projected by early 2026.
• Q2 results showed 21% year-over-year revenue growth and gross margin improvement to negative 31% from negative 92%, with guidance to exit 2025 at positive gross-margin run rates.
• Electrolyzer revenue more than tripled to roughly $45 million in Q2 as the company shifts away from fuel-cell forklifts and builds green hydrogen plants for vertical integration.
• On Oct. 3, H.C. Wainwright’s Amit Dayal raised the price target to $7, citing potential demand tailwinds, while Plug forecasts profitability by the end of 2028.