NEW YORK, July 5, 2026, 12:01 EDT
- Nasdaq said it will be closed on July 3 for Independence Day observed. Regular trading resumes Monday, July 6.
- Plug Power Inc. NASDAQ:PLUG ended the four-day week up 3.9%. The stock added 10 cents as 209.2 million shares traded.
- Short interest stood at 339.6 million shares as of June 15, or 24.68% of float, with days to cover at 5.8.
Plug Power Inc. NASDAQ:PLUG closed at $2.64 ahead of the U.S. holiday, giving the hydrogen fuel-cell and electrolyzer company a market cap around $3.67 billion. With the Nasdaq and NYSE both closed Friday for the Independence Day holiday, Thursday’s close is still the last available read on PLUG ahead of Monday’s open.
Churn was the main signal last week, not direction. Plug moved 209.2 million shares in four sessions, which is about a normal four-day run, but shares gained just 10 cents over the previous Friday. Volume was about 62% of the short interest from the most recent update.
| Plug Power trading week | Close | Daily move | Volume |
|---|---|---|---|
| June 29 | $2.59 | up 1.97% | 44.4 mln |
| June 30 | $2.71 | added 4.63% | 55.2 mln |
| July 1 | $2.64 | fell 2.58% | 49.3 mln |
| July 2 | $2.64 | flat | 60.3 mln |
| Four-session total | up 3.94% | — | 209.2 mln |
That’s key since Plug remains heavily shorted. Short interest was 339.6 million shares on June 15, a 2.2% drop from the last report but still around 25% of the float. The value of shares sold short hit $950.9 million, more than four times Plug’s $223 million in unrestricted cash at the end of Q1.
The rest of the group traded mixed. Bloom Energy Corp. NYSE:BE and FuelCell Energy Inc. NASDAQ:FCEL both outperformed Plug Power for the week after money moved into fuel-cell stocks linked to data-center demand and financing updates. Ballard Power Systems Inc. NASDAQ:BLDP traded lower. The iShares Global Clean Energy ETF NASDAQ:ICLN inched up, adding less than 1%.
| Stock or fund | July 2 close | Four-session change from June 26 | Main read |
|---|---|---|---|
| Plug Power NASDAQ:PLUG | $2.64 | +3.9% | Rebound, but couldn’t get past $2.82 |
| Bloom Energy NYSE:BE | $270.89 | +7.5% | AI angle kept buyers in |
| FuelCell Energy NASDAQ:FCEL | $28.11 | +17.1% | Jump after funding and analyst boost |
| Ballard Power NASDAQ:BLDP | $3.52 | -2.8% | Gave up gains after Thursday’s selloff |
| iShares Global Clean Energy ETF NASDAQ:ICLN | $19.67 | +0.9% | Slight uptick for the group |
Bloom and Brookfield took their AI infrastructure power deal up to $25 billion, Reuters said last week. Shares of FuelCell jumped after it landed $49 million in financing from the Export-Import Bank and got a B. Riley upgrade to buy with a $32 price target, Investor’s Business Daily reported. Plug’s latest move was smaller: it delivered a 5 MW GenEco PEM electrolyzer system to European Energy’s Måde Power-to-X site in Denmark.
Plug is calling its Denmark site a benchmark. The company says the plant, running at full tilt, can turn out about 550 metric tons of green hydrogen a year, roughly 110 tons per MW. But the 5 MW installation is only about 1.6% of Plug’s total global electrolyzer capacity, which tops 320 MW. For shareholders, it comes down to whether Plug can repeat these installations, not just build a single small project.
José Luis Crespo, CEO at Plug, said in the Denmark announcement that the group is shifting from single deployments to a more repeatable model. Rene Alcaraz Frederiksen, who runs Power-to-X for European Energy, said the companies have got “through installation and commissioning” and reached certified green hydrogen output. Plug Power
Plug’s Q1 results put its cash in focus. Revenue climbed 22% to $163.5 million. GAAP gross margin was negative 13%, a jump from negative 55%. Adjusted EPS showed a loss of 8 cents, better than last year’s 17-cent loss. Crespo said the quarter “positions us to achieve our EBITDAS positive target in Q4 2026.” Plug Power
| Plug metric | Latest confirmed figure | Why investors care |
|---|---|---|
| Q1 revenue | $163.5 mln, +22% year over year | Still seeing demand rise |
| GAAP gross margin | -13%, from -55% a year earlier | Losses are smaller, but costs still an issue |
| Adjusted EPS | -$0.08, from -$0.17 | The loss got smaller |
| Total cash | More than $802 mln | Restricted cash is in the total |
| Unrestricted cash | $223 mln | This is the main cash reserve |
| Electrolyzer capacity deployed | More than 320 MW | Margin growth depends on making use of it |
| Project pipeline | More than $8 bln | The size alone isn’t key, quality of orders counts |
This week looks technical and driven by cash. If it pushes past $2.82, that breaks last week’s high. A close under $2.54 would erase the holiday week’s gain. Plug hasn’t announced the next earnings date, though MarketBeat puts its Q2 report around Aug. 10, with the consensus loss at 10 cents a share.
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