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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.