Plug -Power share is a trend on Tuesday: What's going on? – Plug electricity (Nasdaq: plug)

Plug Power Inc. PLUG The shares are in the spotlight on Tuesday after they have gathered 26% for the week. Here is a look at what's going on.

What happened: The plug-power shares were driven higher on Monday after the company had reported and announced preliminary results in the first quarter to receive a loan facility of up to $ 525 million.

Plug said that a final agreement with advisors from Yorkville signed a secure debt facility, which includes the issue of up to 525 million US dollars of secure bonds. The agreement includes a first tranche of 210 million US dollars, which is fully financed for the first time, together with additional tranches of up to 315 million dollars.

Plug Power expects it to report sales of approximately $ 130 to $ 134 million in the first quarter. Analysts expect the first quarter of $ 131 million per benzinga pro estimates.

The company found that in the first quarter of around 142 million US dollars a net benefit use, compared to $ 268 million in the first quarter of 2024.

“The plug is expected to have additional short-term reductions for net barons that are powered by hydrogen systems, additional costs and additional price increases,” said the company.

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Plug reported that on March 31, $ 296 million was unreserved cash. The company should report tested results of the first quarter at the beginning of May. In the provisional publication, the company also gave guidelines for the second quarter.

Plug expects sales in the second quarter to be $ 140 million to $ 180 million compared to $ 143.35 million.

“We made the difficult decisions and set up the structure to achieve improved operational leverage and capital efficiency” Andy MarshCEO from Plug Power.

“We have taken the right steps between strengthening our balance sheet, scaling hydrogen production and streamlined operations to position the plug for long -term success in the hydrogen economy.”

Plug price campaign: The plug shares were driven higher on Monday after the announcements. The stock withdrew on Tuesday to the last check, by 4.5% at 97 cents at the time of publication, Pro Benzinga Pro.

Photo: T. Schneider/Shutterstock.