{"id":5023,"date":"2026-07-08T14:44:18","date_gmt":"2026-07-08T14:44:18","guid":{"rendered":"https:\/\/capitaliststoday.com\/index.php\/2026\/07\/08\/plug-power-stock-sinks-even-as-turnaround-story-builds-short-interest-hits-27-4\/"},"modified":"2026-07-08T14:44:18","modified_gmt":"2026-07-08T14:44:18","slug":"plug-power-stock-sinks-even-as-turnaround-story-builds-short-interest-hits-27-4","status":"publish","type":"post","link":"https:\/\/capitaliststoday.com\/index.php\/2026\/07\/08\/plug-power-stock-sinks-even-as-turnaround-story-builds-short-interest-hits-27-4\/","title":{"rendered":"Plug Power stock sinks even as turnaround story builds, short interest hits 27.4%"},"content":{"rendered":"
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Plug Power stock extended its sharp sell-off this week, falling to its lowest level since April 2. The shares have plunged 45% from their highest level this year and have slipped below the 200-day moving average, while short interest remains elevated despite the company’s ongoing turnaround efforts.<\/p>\n

Rising short interest despite turnaround measures<\/h2>\n

Plug Power, a top player in the hydrogen energy industry, has been in a rollercoaster this year. It initially jumped to a multi-month high of $4.32 in May as investors cheered its turnaround efforts, and then erased most of those gains, and the situation is worsening. <\/p>\n

The ongoing sell-off has coincided with the rising short interest<\/a>. Benzinga data shows that its short interest jumped to 27.4%, a sign that many investors still expect it to continue falling in the near future.<\/p>\n

The company has made some major changes this year, with the management suggesting that it has a path towards profitability in the future. It has also made some customer wins in the past few months. For example, it secured a new 50 MW electrolyzer order from Australia, which is being developed by Orica, a top player in the mining and infrastructure solutions.<\/p>\n

Before that, the company completed the commissioning of 5 MW electrolyzer system at M\u00e5de Power-to-X (PtX) facility in Esbjerg, Denmark. <\/p>\n

Plug Power\u2019s financial statements have also demonstrated that its business was making progress. The results showed that its revenue jumped by 22% in the first quarter to $163 million, helped by its material handling and electrolyzer businesses. It attributed this growth to its relationship with Amazon and Walmart, which use its solutions in their warehouses.<\/p>\n

Rising gross margins<\/h2>\n

At the same time, the company said that its gross margins improved to minus 13% from minus 55% in the same period last year, a 71% increase. It attributed the margin growth to its measures to improve service execution, sales growth, and fuel sourcing efficiencies.<\/p>\n

Plug Power also noted that it had already deployed 320 MW of electrolyzer globally and that it had an $8 billion pipeline across sectors like industrial and energy. Also, its hydrogen fuel sales rose by 22%, helped by customer growth, higher prices, and reduced warrant charges. Its hydrogen fuel margin rose by 54%.<\/p>\n

Wall Street analysts are optimistic about Plug Power, with the average estimate for this year\u2019s annual revenue being $813 million, up by 14.5% YoY. Also, they expect the revenue to jump to $964 million next year.<\/p>\n

Therefore, the stock is falling as investors focus on its balance sheet. It ended the quarter with $802 million in cash, with $223 million being unrestricted. The rest is in the form of restricted cash that will be released $50 million per quarter for the next few years. With its cash burn still continuing, chances are that it may raise cash again this year.<\/p>\n

Plug Power stock price technical analysis<\/h2>\n
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PLUG stock chart | Source: TradingView<\/em><\/p>\n

The daily chart shows that the PLUG stock price has been in a strong downward trend in the past few weeks as the recent momentum stalled. It has dropped below the 50-day and 200-day Exponential Moving Averages (EMA).<\/p>\n

The stock moved below the key support level of $2.66, its highest point in January this year. At the same time, the Relative Strength Index (RSI) has dropped and is approaching the oversold level of 30. <\/p>\n

Therefore the most likely scenario is that it continues falling as investors wait for more clarity about its business when it releases its earnings, possibly on August 10.<\/p>\n

The post Plug Power stock sinks even as turnaround story builds, short interest hits 27.4%<\/a> appeared first on Invezz<\/a><\/p>\n

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