By Christiana Sciaudone
Investing.com -- Plug Power (NASDAQ:PLUG) dropped almost 5% after the company reported disappointing earnings.
Most analysts nonetheless boosted the price target on the stock, and Oppenheimer reiterated a buy-equivalent rating on the shares, with a $62 price target. The company indicated on the earnings call that it expects strong third quarter earnings, analyst Colin Rusch said, according to StreetInsider.
Plug Power reported a loss per share of 12 cents, versus the expectation of a loss of 8 cents, on sales of $71.96 million, slightly worse than the estimated $72.16 million, according to data compiled by Investing.com.
Shares are down by more than half since hitting a record in February.