NEW YORK, March 16, 2026, 12:48 EDT
Shares of Plug Power climbed 4.7% to $2.25 by midday Monday, following news that top executives plan to hold meetings with institutional investors in both Europe and Washington this week.
Plug’s cash pile is still a question mark, and that’s why these meetings count. On March 2, the company reported $368.5 million in unrestricted cash at the close of 2025. Plug also projected over $275 million coming in from planned asset sales connected to a big U.S. data-center expansion—money it said should keep operations funded into 2026.
Crespo stepped in as CEO on March 2, outlining Plug’s “clear priorities: disciplined execution, margin improvement, capital efficiency.” For the fourth quarter, the company swung to a positive gross margin—sales outpacing direct costs—after posting a negative margin the year before. Crespo added Plug would “continue executing with discipline” through this year. Plug Power
Conditions remain challenging. Plug’s 2025 revenue climbed to $709.9 million, up from $628.8 million the year before, according to Reuters data. Still, the company logged a net loss of $1.63 billion for the year.
Hydrogen and fuel-cell players lent a hand to Monday’s uptick. Ballard Power climbed 3.8%, and FuelCell Energy tacked on nearly 2.0%. Air Products, part of the industrial-gases sector, slipped.
Plug’s rebound doesn’t change the fact that the stock is still trading at about half its $4.58 52-week high, sitting just slightly above Friday’s $2.15 close. The gap underscores lingering wariness toward the shares.
Leadership staying the course is front and center here. After shifting from CEO to chairman this month, Andy Marsh told investors on March 3 he had “full confidence in his leadership,” with Plug sticking to its long-term profit targets under Crespo. Plug Power
The margin for error is tight. Plug burned through $535.8 million in operating cash in 2025. The company has flagged several risks: holding margins, wrapping up asset sales, keeping liquidity in check, locking down financing on terms it can live with, and shifts in clean-energy policy—all could throw off its strategy.
CFO Paul Middleton heads to London, Stockholm and Paris for a non-deal roadshow, with meetings running through March 18. These sessions aren’t linked to any equity offering. Over in Washington, Crespo and investor-relations chief Roberto Friedlander are slated to appear at JPMorgan’s Industrials Conference on Tuesday, the company confirmed.
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