Plug Power stock falls 3% after wider Q3 loss, lower sales

Shares of Plug Power Inc. PLUG, -0.54% dropped 3% successful the extended league Tuesday aft the hydrogen fuel-cell institution reported a wider quarterly nonaccomplishment and income that missed the people slightly. Plug Power mislaid $107 million, oregon 19 cents a share, successful the 3rd quarter, compared with a nonaccomplishment of $65 million, oregon 18 cents a share, successful the year-ago quarter. Revenue roseate to $144 cardinal from $107 cardinal a twelvemonth ago. Analysts polled by FactSet expected Plug Power to study a nonaccomplishment of 8 cents a stock connected income of $145 million. Separately, Plug Power said it has agreed to bargain Frames Group, a Netherlands-based shaper of vigor equipment. The deal, which includes 85 cardinal euros ($98.5 million) successful currency and 30 cardinal euros successful earnouts, is expected to adjacent by the extremity of the year, Plug Power said.