Plug Power Jumps 14% Ahead of Q1 Earnings as 25% Short Interest Fuels Covering

7 articles · Updated · Barron's · May 11

Plug Power shares rose nearly 14% to about $3.50 in midday trading Monday, far outpacing the S&P 500's 0.3% gain ahead of its first-quarter earnings report after the close.
About 350 million shares—roughly 25% of the float—have been sold short, suggesting bearish investors may be buying back stock before results and helping drive the surge.
Wall Street expects a $110 million operating loss on $140 million in quarterly sales, versus a roughly $180 million loss on $134 million a year earlier.
Plug's last earnings report on March 2 triggered a 23% jump after a smaller-than-expected loss, and management said it expected positive EBITDA by the fourth quarter.
Even after Monday's rally, the stock remains far below its more than $46 five-year high, though it has climbed over 300% in the past 12 months.

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