Plug Power's Stock Drops After Wider-than-expected Loss

Shares of Plug Power tumbled 10% in active, premarket trade Tuesday, after the fuel cell maker reported a wider-than-expected fourth-quarter loss and sales that missed estimates. The net loss narrowed to $7.2 million, or 4 cents a share, from $28.9 million, or 28 cents a share, in the year-earlier period. Excluding a one-time gain related to the change in fair value of stock warrants, the adjusted per-share loss was 8 cents, compared with the FactSet consensus for a loss of 4 cents. Revenue rose to $21.5 million from $8 million, as product, service and research and development contract revenue all increased, but that missed the FactSet consensus $26.3 million. The stock has lost 8.3% year to date through Monday, while the S&P 500 has gained 1.1%.