Plug Power shares have declined more than 30% in 2015. While the company won several deals with giants like Wal-Mart, Home Depot, Kroger, Colruyt, and 3M, these catalysts were not enough to hold the stock above $3. The fuel cell company had a history of over-promising and under-delivering. So, it came as a big surprise when Plug Power slashed its FY2015 revenue forecast from $130 million to $100 million.
Plug Power to keep losing
For the fourth quarter of 2015, analysts expect the Latham, New York-based company to report $35.37 million in revenue with a net loss of 5 cents per share. The FY2015 revenue is expected to come in at $100.63 million, up 56.70% from last year and in-line with the company’s guidance. Wall Street expects Plug’s FY2016 revenue to surge 49.70% YoY to $150.66 million. Losses are also expected to narrow from 25 cents t