New York, June 2, 2026, 05:03 EDT
- Plug Power traded at $3.94, off 0.3% from the last close, ahead of the regular U.S. session.
- Management is set to appear at RBC Capital Markets’ energy, power and infrastructure event in Manhattan on Tuesday morning.
- Investors want to see if stronger margins are enough to balance out cash burn and execution risk in big hydrogen projects.
Plug Power Inc. shares slipped in early U.S. premarket trade Tuesday. Investors were waiting to hear from the hydrogen equipment company’s CFO, who is set to speak at an RBC Capital Markets event in New York.
The shares last changed hands at $3.94, off a penny from yesterday’s finish. The most recent trade hit before the main Nasdaq hours. Other fuel-cell and hydrogen names, FuelCell Energy and Bloom Energy, both slipped early. The group was weak at the open.
The stock faces a test after its strong move up from last year’s lows and a first-quarter report that gave bulls some support, with revenue up and adjusted losses narrowing. Cash burn remains an issue, though, and that’s usually where traders show less patience.
Nasdaq trading starts at 9:30 a.m. EDT as usual. The exchange is open for normal trading Tuesday. According to Nasdaq’s 2026 holiday schedule, the next planned market holiday is Juneteenth on June 19. Early price moves come from premarket trading before the main session.
Plug said CFO Paul Middleton and Roberto Friedlander, VP of investor relations, are set to speak at the RBC Capital Markets Global Energy, Power & Infrastructure Conference in Manhattan. The event is at 8 a.m. ET.
Title: U.S. stocks start June higher, but clean-energy names still move on their own headlines U.S. stocks opened June steady, with the Nasdaq rising roughly 0.4% on Monday. But clean-energy stocks did not follow the main indexes in lockstep, often reacting more to news about funding, margin, and order-conversion updates than to broad market moves.
Plug posted first-quarter revenue of $163.5 million, up 22% from a year ago. GAAP gross margin came in at negative 13%, improving from negative 55% last year. CEO Jose Luis Crespo said the results show movement toward hitting the company’s goal of positive EBITDAS in the fourth quarter. EBITDAS refers to earnings before interest, income tax, depreciation, amortization and share-based expense, a non-GAAP profit metric.
Plug has “more than adequate capital to fund 2026,” Middleton said on the earnings call, citing cash, operating improvements, asset monetization, and cuts in capital spending. The Motley Fool
Cash questions are sticking around for the market. Plug finished March with $223 million in unrestricted cash and another $579 million in restricted cash. The company expects about $50 million of restricted cash to be released every quarter for the next few years. Plug also named deal proceeds as a source of cash, with the first transaction tied to Stream Data Centers seen bringing in around $142 million in June.
Plug’s latest ops update is out of the UK. On May 20, Plug said it hit final investment decision on its 30-megawatt Barrow Green Hydrogen project in Barrow-in-Furness. Plug is set to supply six 5 MW GenEco PEM electrolyzers for the job. Crespo called this move shifting Plug’s “largest UK project from award into execution.” Plug Power
Plug now has a firm order to talk about at RBC, beyond just its project pipeline. The move keeps the company lined up with other players going after industrial hydrogen. Here, the question has shifted from landing deals to actually delivering systems, revenue and cash.
Stalling margins are a risk here. Plug has warned cost cuts, project schedules, hydrogen costs, asset sales, financing, or demand might not go as management hopes. If June’s cash deal doesn’t close on time, or if big electrolyzer projects slow, talk of cash burn could pick up again.
Tuesday morning’s action is modest so far. The main move could come once management starts talking.
