Plug Power's stock surged 5.33% on Tuesday, defying the company's weak fourth-quarter results released earlier in the day. The company reported a year-over-year decline in revenue and a wider loss per share compared to the same period last year.
However, the stock gained momentum as analysts remained optimistic about Plug Power's prospects. Truist Financial analyst Jordan Levy maintained a "Hold" rating on the stock, citing the company's potential for future growth in the hydrogen fuel cell market.
The positive analyst sentiment and favorable outlook for the industry appear to have outweighed the disappointing quarterly performance, driving Plug Power's stock higher during the intraday trading session.
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