PLUG Plug Power, Inc. - Common Stock
$2.17
Price · Aug 18, 2026
Fundamentals as of Aug 10, 2026
52W Range
$1–$5
24% of range
Analyst Rating
HOLD
29 analysts
Price Target
$4
+64% upside
P/E (TTM)
-1.4
ROE
-120.3%
Net Profit Margin
-229.8%
About Plug Power, Inc. - Common Stock Company overview from Wikipedia
Plug Power Inc. is an American company engaged in the development of hydrogen fuel cell and electrolyzer systems that replace conventional batteries in equipment and vehicles powered by electricity. The company is headquartered in Slingerlands, New York, and has facilities in Spokane, Washington, and Rochester, New York.
Read more
Plug Power Inc. is an American company engaged in the development of hydrogen fuel cell and electrolyzer systems that replace conventional batteries in equipment and vehicles powered by electricity. The company is headquartered in Slingerlands, New York, and has facilities in Spokane, Washington, and Rochester, New York.
Plug Power's GenDrive system integrates fuel cells manufactured by both Plug Power and Ballard Power Systems and incorporates a hydrogen storage system that allows the system to "recharge" in a matter of minutes as opposed to several hours for lead-acid batteries. It allows hydrogen-powered forklifts to run at a constant steady power. GenDrive units occupy the same space designed for conventional batteries.
## History
Plug Power was founded in 1997 as a joint venture between DTE Energy and Mechanical Technology Inc. The company went public in October 1999.
The company was subject to a shareholder class action complaint for securities fraud following the IPO for allegedly misleading statements about their fuel cell technology capabilities and on its material sales and distribution relationship with General Electric. By order dated October 30, 2000, the Eastern District of New York court consolidated the complaints into one action, entitled Plug Power Inc. Securities Litigation, CV-00-5553 (ERK) (RML). On December 29, 2004, the company settled the matter with the sum of $5 million paid by Plug Power company directors to plaintiffs.
In February 2017, the company announced the first shipments of its ProGen fuel cell engines designed for electric delivery vehicles and the adoption of its GenDrive system by the USPS forklift fleet in Capitol Heights, Maryland.
In February 2020, the company introduced 125 kW Progen fuel cell engines for class 6, 7 & 8 trucks and heavy duty off-road equipment. In January 2021, SK Group, a major South Korean company, announced an investment of $1.5 billion in Plug Power for around 10% share. They will form a joint venture company in South Korea to supply hydrogen fuel cell products to Asian markets.
In January 2021, the company signed a memorandum of understanding with French automobile manufacturer Renault. The deal would launch a joint venture in France by the end of June 2021.
On March 2, 2021, Plug Power filed a Notification of Late Filing with the Securities and Exchange Commission stating that it could not timely file its annual report for the period ended December 31, 2020. On March 16, 2021, the company announced that they would have to restate financial statements for fiscal years 2018 and 2019 as well as some recent quarterly filings. It is subject to an ongoing shareholder class action lawsuit for securities fraud over alleged misrepresentations and/or failures to disclose its inability to timely file its 2020 annual report and material weaknesses in its internal controls over financial reporting.
Due to the rarity of hydrogen infrastructure, Plug Power delivers several mobile refueler solution for transit agencies and trucking fleet customers.
In January 2024 the company completed largest electrolytic liquid hydrogen production plant operating in the United States in Woodbine, Georgia. The plant is designed to produce 15 tons per day (TPD) of liquid electrolytic hydrogen. Through eight 5-megawatt (MW) PEM electrolyzers, water is separated into hydrogen and oxygen. The hydrogen gas is then condensed into liquid form at -423F to be delivered to customers’ hydrogen fueling stations through Plug’s logistics network using cryogenic trailers.
In October 2025, Plug Power announced it delivered the first of ten 10MW GenEco electrolyzer to Galp's Sines Refinery. The full 100MW deployment is expected to replace 20% of Galp's gray hydrogen and cut 110,000 tons of carbon dioxide annually.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
PLUG Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$2.17
Market Cap
—
P/E (TTM)
-1.4
EPS (TTM)
$-1.42
Revenue (TTM)
$710M
Div Yield
—
ROE
-120.3%
Debt/Equity
—
52W Range
$1 – $5
PLUG Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$710M
2019-12-31
→
2025-12-31
EPS
$-1.42
2019-12-31
→
2025-12-31
Free Cash Flow
$-647M
2019-12-31
→
2025-12-31
Margins
-229.8%
2019-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
PLUG
Peer Median
P/E (TTM)
-1.4
37.5
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
PLUG
Peer Median
Gross Margin
-34.1%
30.8%
Operating Margin
-206.7%
—
Net Profit Margin
-229.8%
6.3%
ROA
-52.6%
3.0%
ROE
-120.3%
11.4%
ROIC
-150.1%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
PLUG
Peer Median
Current Ratio
2.3
2.3
Quick Ratio
0.8
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
PLUG
Peer Median
Revenue YoY
12.9%
—
Revenue CAGR 3Y
0.40%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
PLUG
Peer Median
PLUG Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
HOLD
29 analysts
- Strong Buy 2 6.9%
- Buy 10 34.5%
- Hold 14 48.3%
- Sell 2 6.9%
- Strong Sell 1 3.4%
12-Month Price Target
16 analysts · 2026-08-16
Median
$3.50
Now
$2.17
Low
$0.75
High
$7.00
Median target
$3.50
+61.7%
Mean target
$3.55
+64.1%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.09%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.07 | $-0.08 | 0.01% |
| March 31, 2026 | $-0.08 | $-0.10 | 0.02% |
| Dec. 31, 2025 | $-0.64 | $-0.10 | -0.54% |
| Sept. 30, 2025 | $-0.12 | $-0.13 | 0.01% |
| June 30, 2025 | $-0.20 | $-0.16 | -0.04% |
| March 31, 2025 | $-0.21 | $-0.19 | -0.02% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| PLUG | — | -1.4 | 12.9% | -229.8% | -120.3% | -34.1% |
| POWL | $3.68B | 20.5 | 9.1% | 16.4% | 30.6% | 29.4% |
| ENS | $6.33B | 22.6 | 3.7% | 7.8% | 15.4% | 29.3% |
| ST | — | 158.5 | -5.8% | 0.84% | 1.1% | — |
| ATKR | $2.11B | -139.4 | -11.0% | -0.53% | -1.1% | 23.7% |
| RUN | $4.30B | 10.8 | 45.1% | 15.2% | 15.8% | — |
| PLPC | $1.01B | 29.0 | 12.7% | 5.3% | 7.9% | 31.2% |
| FLNC | — | -29.2 | -16.2% | -2.1% | -10.7% | 13.1% |
| ALNT | $910M | 40.7 | 4.6% | 4.0% | 7.5% | 32.8% |
| FCEL | $412M | -1.2 | 41.0% | -118.8% | -28.5% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $710M | $629M | $891M | $701M | $502M | $-93M | $230M | |
| Cost of Revenue | $952M | $1.25B | $1.40B | $896M | $674M | $376M | $219M | |
| Gross Profit | $-242M | $-625M | $-508M | $-194M | $-171M | $-469M | $11M | |
| R&D Expense | $58M | $77M | $114M | $100M | $65M | $28M | $15M | |
| SG&A Expense | $380M | $376M | $422M | $364M | $180M | $79M | $43M | |
| Operating Expenses | $1.23B | $1.39B | $836M | $485M | $266M | $115M | $58M | |
| Operating Income | $-1.47B | $-2.02B | $-1.34B | $-680M | $-437M | $-584M | $-48M | |
| Interest Expense | $65M | $47M | $45M | $39M | $43M | $61M | $37M | |
| Interest Income | $19M | $31M | $56M | · | · | · | · | |
| Other Non-op | $8M | $-20M | $-131.0K | $-1M | $-606.0K | $-739.0K | $-36M | |
| Pretax Income | $-1.69B | $-2.11B | $-1.38B | $-723M | $-476M | $-627M | $-84M | |
| Income Tax | $356.0K | $-3M | $-7M | $839.0K | $-16M | $-31M | · | |
| Net Income | $-1.63B | $-2.10B | $-1.37B | $-724M | $-460M | $-596M | $-84M | |
| EPS (Basic) | $-1.42 | $-2.68 | $-2.30 | $-1.25 | $-0.82 | $-1.68 | $-0.36 | |
| EPS (Diluted) | $-1.42 | $-2.68 | $-2.30 | $-1.25 | $-0.82 | $-1.68 | $-0.36 | |
| Shares (Basic) | 1,146,691,189 | 785,024,373 | 595,468,419 | 579,716,708 | 558,182,177 | 354,790,106 | 237,152,780 | |
| Shares (Diluted) | 1,146,691,189 | 785,024,373 | 595,468,419 | 579,716,708 | 558,182,177 | 354,790,106 | 237,152,780 | |
| EBITDA | $-1.47B | · | $-1.34B | · | $-437M | $-584M | $-50M |
Balance Sheet 28
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $369M | $206M | $135M | $691M | $2.48B | $1.31B | $139M | |
| Receivables | $135M | $157M | $244M | $129M | · | · | · | |
| Inventory | $521M | $683M | $961M | $646M | $269M | $139M | $72M | |
| Prepaid Expense | $94M | $140M | $104M | $150M | $60M | $44M | $21M | |
| Current Assets | $1.41B | $1.48B | $1.79B | $3.31B | $4.45B | $1.60B | $314M | |
| PP&E (Net) | $281M | $866M | $1.44B | $720M | $256M | $75M | $15M | |
| PP&E (Gross) | $305M | $908M | $1.52B | $768M | $285M | $97M | $32M | |
| Accum. Depreciation | $24M | $42M | $81M | $48M | $29M | $22M | $17M | |
| Goodwill | · | $0 | $0 | $249M | $220M | $72M | $9M | |
| Intangibles | $29M | $85M | $189M | $208M | $158M | $39M | $6M | |
| Total Assets | $2.59B | $3.60B | $4.90B | $5.76B | $5.95B | $2.25B | $660M | |
| Accounts Payable | $169M | $181M | $258M | $192M | $92M | $50M | $40M | |
| Accrued Liabilities | $128M | $103M | $201M | $156M | $79M | $46M | $14M | |
| Short-term Debt | · | · | · | · | $15M | $25M | · | |
| Current Liabilities | $611M | $748M | $965M | $635M | $421M | $222M | $134M | |
| Capital Leases | $195M | $242M | $292M | $272M | $176M | $100M | $51M | |
| Other Non-current Liabilities | · | $136M | $147M | $193M | $140M | $40M | $3M | |
| Total Liabilities | $1.59B | $1.80B | $2.00B | $1.70B | $1.34B | $784M | $528M | |
| Long-term Debt | · | · | $4M | $9M | · | · | · | |
| Total Debt | · | · | $3M | · | $31M | $51M | $26M | |
| Common Stock | $14M | $9M | $6M | $6M | $6M | $5M | $3M | |
| Paid-in Capital | $9.19B | $8.43B | $7.49B | $7.30B | $7.07B | $3.45B | $1.51B | |
| Retained Earnings | $-8.23B | $-6.59B | $-4.49B | $-3.12B | $-2.40B | $-1.95B | $-1.35B | |
| Treasury Stock | $3M | $109M | $106M | $96M | $73M | $40M | $31M | |
| AOCI | $7M | $-3M | $-7M | $-26M | $-2M | $2M | $1M | |
| Stockholders' Equity | $978M | $1.73B | $2.90B | $4.06B | $4.61B | $1.47B | $130M | |
| Liabilities + Equity | $2.59B | $3.60B | $4.90B | $5.76B | $5.95B | $2.25B | $660M | |
| Shares Outstanding | · | · | · | 590,345,658 | 577,654,900 | 458,051,920 | 303,378,515 |
Cash Flow 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $51M | $82M | $163M | $180M | $76M | $17M | $11M | |
| Deferred Tax | $-165M | $-215M | $-103M | $-36M | $-51M | $-31M | $-11M | |
| Amort. of Intangibles | $7M | $23M | $19M | $21M | $2M | $1M | $698.0K | |
| Operating Cash Flow | $-536M | $-729M | $-1.11B | $-829M | $-358M | $-155M | $-53M | |
| CapEx | $111M | $287M | $665M | $437M | $172M | $23M | $6M | |
| Investing Cash Flow | $-139M | $-402M | $728M | $-679M | $-1.74B | $-95M | $-14M | |
| Net Debt Issued | $-264M | · | · | · | · | · | $-25M | |
| Stock Issued | $322M | $858M | · | · | $3.59B | $1.27B | $158M | |
| Net Stock Activity | $322M | · | · | · | $3.59B | $1.27B | $158M | |
| Financing Cash Flow | $630M | $983M | $6M | $-77M | $3.60B | $1.52B | $327M | |
| Net Change in Cash | $163M | $71M | $-556M | $-1.79B | $1.17B | $1.17B | $259M | |
| Taxes Paid | $600.0K | $-168.0K | $2M | · | · | · | · | |
| Free Cash Flow | $-647M | · | $-1.77B | · | $-530M | $-178M | $-57M | |
| Levered FCF | $-712M | · | $-1.82B | · | $-572M | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -34.1% | · | -57.0% | · | -34.1% | 503.5% | 12.2% | |
| Operating Margin | -206.7% | · | -150.7% | · | -87.1% | 626.6% | -21.7% | |
| Net Margin | -229.8% | · | -153.6% | · | -91.6% | 639.4% | -37.1% | |
| Pretax Margin | -238.5% | · | -154.4% | · | -94.8% | 672.5% | -37.1% | |
| EBITDA Margin | -206.7% | · | -150.7% | · | -87.1% | 626.6% | -21.7% | |
| ROA | -52.6% | · | -25.7% | · | -11.2% | -33.1% | -13.8% | |
| ROE | -120.3% | · | -42.7% | · | -9.9% | -58.1% | -148.0% | |
| ROIC | -150.1% | · | -46.1% | · | -9.1% | · | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.3 | · | 1.9 | · | 10.6 | 7.2 | 2.1 | |
| Quick Ratio | 0.8 | · | 0.4 | · | 5.9 | 5.9 | 0.9 | |
| Debt / Equity | · | · | 0.0 | · | 0.0 | 0.0 | 0.2 | |
| Interest Coverage | -22.5 | · | -29.7 | · | -10.1 | · | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | · | 0.2 | · | 0.1 | -0.1 | 0.4 | |
| Inventory Turnover | 1.6 | · | 1.7 | · | 3.3 | · | 2.6 | |
| Receivables Turnover | 4.9 | · | 4.8 | · | · | · | · |
Growth Rates 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 12.9% | -29.4% | 27.1% | 39.6% | · | · | · | |
| Revenue CAGR 3Y | 0.40% | 7.8% | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $710M | $629M | $891M | $701M | $502M | $-93M | $230M | |
| Net Income TTM | $-1.63B | $-2.10B | $-1.37B | $-724M | $-460M | $-596M | $-84M | |
| Market Cap | · | · | · | · | $16.31B | $15.53B | $959M | |
| Enterprise Value | · | · | · | · | $13.86B | $14.27B | $846M | |
| P/E | -1.4 | -0.8 | -2.0 | -9.9 | -34.4 | -20.2 | -8.8 | |
| P/S | · | · | · | · | 32.5 | -166.6 | 4.2 | |
| P/B | · | · | · | · | 3.5 | 10.6 | 7.1 | |
| P / Tangible Book | · | · | · | 2.0 | 3.9 | 11.5 | · | |
| P / Cash Flow | · | · | · | · | -45.5 | -99.9 | -18.6 | |
| P / FCF | · | · | · | · | -30.7 | -87.3 | -16.8 | |
| EV / EBITDA | · | · | · | · | -31.7 | -24.4 | -16.9 | |
| EV / FCF | · | · | · | · | -26.1 | -80.2 | -14.8 | |
| EV / Revenue | · | · | · | · | 27.6 | -153.1 | 3.7 | |
| Earnings Yield | -72.1% | -125.8% | -51.1% | -10.1% | -2.9% | -5.0% | -11.4% |
Income Statement 18
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $178M | $164M | $225M | $177M | $174M | $134M | $191M | $174M | $143M | $120M | $222M | $199M | $260M | $210M | $221M | $189M | |
| Cost of Revenue | $180M | $185M | $220M | $297M | $227M | $208M | $426M | $274M | $275M | $279M | $444M | $337M | $338M | $280M | $301M | $235M | |
| Gross Profit | $-2M | $-22M | $5M | $-120M | $-53M | $-74M | $-235M | $-100M | $-131M | $-159M | $-222M | $-138M | $-78M | $-69M | $-80M | $-46M | |
| R&D Expense | $13M | $12M | $12M | $16M | $12M | $17M | $13M | $20M | $19M | $25M | $30M | $28M | $29M | $27M | $27M | $28M | |
| SG&A Expense | $29M | $70M | $100M | $111M | $88M | $81M | $121M | $92M | $85M | $78M | $112M | $105M | $101M | $104M | $102M | $86M | |
| Operating Expenses | $62M | $88M | $769M | $229M | $123M | $105M | $1.07B | $116M | $113M | $100M | $404M | $136M | $156M | $140M | $153M | $114M | |
| Operating Income | $-64M | $-109M | $-763M | $-349M | $-177M | $-178M | $-1.30B | $-216M | $-245M | $-259M | $-626M | $-274M | $-234M | $-210M | $-234M | $-160M | |
| Interest Expense | $17M | $17M | $21M | $16M | $16M | $11M | $17M | $9M | $10M | $11M | $11M | $12M | $11M | $11M | $10M | $9M | |
| Interest Income | $3M | $4M | · | · | $6M | $5M | · | · | · | · | · | · | · | · | · | · | |
| Other Non-op | $-7M | $1M | $-1M | $4M | $4M | $1M | $-19M | $16M | $-9M | $-7M | $5M | $5M | $-5M | $-5M | $8M | $-5M | |
| Pretax Income | $-190M | $-246M | $-904M | $-363M | $-229M | $-197M | $-1.34B | $-211M | $-263M | $-296M | $-643M | $-288M | $-237M | $-208M | $-224M | $-169M | |
| Income Tax | $207.0K | $41.0K | $252.0K | $92.0K | $12.0K | $0 | $-3M | $95.0K | $-376.0K | $163.0K | $-448.0K | $-5M | $-917.0K | $-1M | $-691.0K | $2M | |
| Net Income | $-188M | $-245M | $-846M | $-362M | $-227M | $-197M | $-1.34B | $-211M | $-262M | $-296M | $-642M | $-283M | $-236M | $-207M | $-223M | $-171M | |
| EPS (Basic) | $-0.14 | $-0.18 | $-0.70 | $-0.31 | $-0.20 | $-0.21 | $-1.61 | $-0.25 | $-0.36 | $-0.46 | $-1.08 | $-0.47 | $-0.40 | $-0.35 | $-0.38 | $-0.30 | |
| EPS (Diluted) | $-0.14 | $-0.18 | $-0.70 | $-0.31 | $-0.20 | $-0.21 | $-1.61 | $-0.25 | $-0.36 | $-0.46 | $-1.08 | $-0.47 | $-0.40 | $-0.35 | $-0.38 | $-0.30 | |
| Shares (Basic) | 1,391,212,670 | 1,389,672,378 | -2,084,220,310 | 1,158,516,229 | 1,126,627,283 | 945,767,987 | -1,451,523,396 | 858,442,951 | 736,848,684 | 641,256,134 | -1,191,255,282 | 599,465,146 | 598,053,390 | 589,205,165 | -1,154,236,831 | 578,043,278 | |
| Shares (Diluted) | 1,391,212,670 | 1,389,672,378 | -2,084,220,310 | 1,158,516,229 | 1,126,627,283 | 945,767,987 | -1,451,523,396 | 858,442,951 | 736,848,684 | 641,256,134 | -1,191,255,282 | 599,465,146 | 598,053,390 | 589,205,165 | -1,154,236,831 | 578,043,278 | |
| EBITDA | $-64M | $-109M | · | $-349M | $-177M | $-178M | · | $-216M | $-245M | $-259M | · | $-274M | $-234M | $-210M | · | $-160M |
Balance Sheet 26
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $162M | $223M | $369M | $166M | $141M | $296M | $206M | $94M | $62M | $173M | · | $111M | $579M | $475M | · | $1.75B | |
| Receivables | $126M | $107M | $135M | $124M | $139M | $145M | $157M | $167M | $190M | $149M | · | $163M | $217M | $128M | · | · | |
| Inventory | $493M | $516M | $521M | $555M | $644M | $693M | $683M | $886M | $940M | $976M | · | $1.02B | $904M | $776M | · | $516M | |
| Prepaid Expense | $106M | $140M | $94M | $88M | $113M | $112M | $140M | $125M | $125M | $119M | · | $147M | $140M | $156M | · | $136M | |
| Current Assets | $1.15B | $1.27B | $1.41B | $1.19B | $1.33B | $1.53B | $1.48B | $1.63B | $1.67B | $1.77B | · | $2.24B | $2.62B | $2.98B | · | $3.65B | |
| PP&E (Net) | $244M | $240M | $281M | $877M | $910M | $880M | $866M | $1.53B | $1.51B | $1.45B | · | $1.25B | $1.06B | $875M | · | $607M | |
| PP&E (Gross) | · | · | $305M | · | · | · | $908M | $1.65B | $1.62B | $1.55B | · | $1.32B | $1.12B | $928M | · | $650M | |
| Accum. Depreciation | · | · | $24M | · | · | · | $42M | $119M | $109M | $96M | · | $71M | $61M | $54M | · | $43M | |
| Goodwill | · | · | · | · | · | · | · | · | · | · | · | $248M | $250M | $250M | · | $231M | |
| Intangibles | $27M | $28M | $29M | $78M | $81M | $83M | $85M | $175M | $178M | $183M | · | $193M | $199M | $204M | · | $196M | |
| Total Assets | $2.19B | $2.37B | $2.59B | $3.10B | $3.35B | $3.63B | $3.60B | $4.72B | $4.78B | $4.85B | · | $5.45B | $5.58B | $5.65B | · | $5.86B | |
| Accounts Payable | $144M | $144M | $169M | $162M | $152M | $192M | $181M | $207M | $254M | $286M | · | $293M | $220M | $188M | · | $200M | |
| Accrued Liabilities | $106M | $113M | $128M | $122M | $105M | $129M | $103M | $107M | $113M | $155M | · | $154M | $166M | $168M | · | $157M | |
| Current Liabilities | $494M | $541M | $611M | $903M | $836M | $788M | $748M | $787M | $810M | $911M | · | $931M | $828M | $678M | · | $599M | |
| Capital Leases | $159M | $175M | $195M | $209M | $227M | $231M | $242M | $249M | $264M | $278M | · | $295M | $290M | $275M | · | $246M | |
| Other Non-current Liabilities | · | · | · | · | · | $114M | · | $143M | $160M | $144M | · | $122M | $102M | $180M | · | $164M | |
| Total Liabilities | $1.61B | $1.59B | $1.59B | $1.61B | $1.59B | $1.70B | $1.80B | $1.70B | $1.79B | $1.92B | · | $1.94B | $1.84B | $1.73B | · | $1.64B | |
| Long-term Debt | · | · | · | · | · | · | · | $4M | $4M | $4M | · | $4M | $4M | $9M | · | · | |
| Total Debt | · | · | · | · | · | · | · | · | $3M | $3M | · | $3M | $513.0K | $5M | · | $937.0K | |
| Common Stock | $14M | $14M | $14M | $12M | $12M | $10M | $9M | $9M | $8M | $7M | · | $6M | $6M | $6M | · | $6M | |
| Paid-in Capital | $9.23B | $9.21B | $9.19B | $8.89B | $8.79B | $8.75B | $8.43B | $8.39B | $8.14B | $7.82B | · | $7.46B | $7.41B | $7.36B | · | $7.25B | |
| Retained Earnings | $-8.66B | $-8.47B | $-8.23B | $-7.38B | $-7.02B | $-6.79B | $-6.59B | $-5.26B | $-5.05B | $-4.79B | · | $-3.85B | $-3.56B | $-3.33B | · | $-2.90B | |
| Treasury Stock | $3M | $3M | $3M | $106M | $105M | $109M | $109M | $108M | $107M | $107M | · | $104M | $99M | $99M | · | $95M | |
| AOCI | $2M | $3M | $7M | $4M | $3M | $-5M | $-3M | $-2M | $-2M | $-9M | · | $-2M | $-14M | $-19M | · | $-35M | |
| Stockholders' Equity | $582M | $750M | $978M | $1.42B | $1.68B | $1.86B | $1.73B | $3.03B | $2.99B | $2.93B | · | $3.51B | $3.74B | $3.92B | · | $4.22B | |
| Liabilities + Equity | $2.19B | $2.37B | $2.59B | $3.10B | $3.35B | $3.63B | $3.60B | $4.72B | $4.78B | $4.85B | · | $5.45B | $5.58B | $5.65B | · | $5.86B |
Cash Flow 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $13M | $14M | $14M | $12M | $13M | $11M | $18M | $24M | $26M | $14M | $34M | $46M | $40M | $43M | $45M | $47M | |
| Amort. of Intangibles | $900.0K | $908.0K | $943.0K | $2M | $2M | $2M | $9M | $5M | $5M | $5M | $5M | $4M | $5M | $5M | $6M | $5M | |
| Operating Cash Flow | $-94M | $-150M | $-149M | $-90M | $-192M | $-106M | $-131M | $-175M | $-255M | $-168M | $-243M | $-239M | $-348M | $-277M | $-307M | $-117M | |
| CapEx | $6M | $2M | $4M | $28M | $39M | $40M | $34M | $59M | $101M | $93M | $181M | $165M | $151M | $169M | $119M | $160M | |
| Investing Cash Flow | $289.0K | $-8M | $-21M | $-30M | $-41M | $-47M | $-44M | $-90M | $-148M | $-121M | $268M | $-145M | $510M | $96M | $-659M | $-286M | |
| Net Debt Issued | · | $-346.0K | · | · | · | $-344.0K | · | · | · | $-300.0K | · | $-300.0K | $-5M | · | · | · | |
| Stock Issued | · | · | $-30M | $76M | $139.0K | $276M | $65M | $221M | $267M | $305M | · | · | · | · | · | · | |
| Net Stock Activity | · | · | · | · | · | $276M | · | · | · | $305M | · | · | · | · | · | · | |
| Financing Cash Flow | $-36M | $-32M | $317M | $87M | $33M | $193M | $204M | $252M | $244M | $283M | $-8M | $-11M | $18M | $7M | $-36M | $-11M | |
| Net Change in Cash | $-61M | $-145M | $203M | $25M | $-155M | $90M | $112M | $32M | $-111M | $38M | $24M | $-469M | $105M | $-216M | $-1.06B | $-508M | |
| Free Cash Flow | · | $-152M | · | · | · | $-146M | · | · | · | $-260M | · | · | · | $-445M | · | · | |
| Levered FCF | · | $-170M | · | · | · | $-158M | · | · | · | $-272M | · | · | · | $-456M | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -0.94% | -13.2% | · | -67.9% | -30.7% | -55.2% | · | -57.6% | -91.6% | -132.3% | · | -69.4% | -30.0% | -33.0% | · | -24.4% | |
| Operating Margin | -36.0% | -67.0% | · | -197.0% | -101.7% | -133.5% | · | -124.4% | -170.7% | -215.7% | · | -137.9% | -89.9% | -99.8% | · | -84.7% | |
| Net Margin | -105.6% | -150.0% | · | -204.4% | -130.5% | -147.1% | · | -121.5% | -183.0% | -245.9% | · | -142.7% | -90.9% | -98.2% | · | -90.5% | |
| Pretax Margin | -106.5% | -150.4% | · | -205.3% | -131.5% | -147.3% | · | -121.5% | -183.3% | -245.8% | · | -145.0% | -91.2% | -98.8% | · | -89.7% | |
| EBITDA Margin | -36.0% | -67.0% | · | -197.0% | -101.7% | -133.5% | · | -124.4% | -170.7% | -215.7% | · | -137.9% | -89.9% | -99.8% | · | -84.7% | |
| ROA | -6.8% | -8.2% | · | -9.2% | -5.6% | -4.6% | · | -4.2% | -5.1% | -5.6% | · | -5.0% | -4.2% | -3.6% | · | -2.9% | |
| ROE | -16.6% | -18.8% | · | -16.3% | -9.7% | -8.2% | · | -6.5% | -7.8% | -8.6% | · | -7.3% | -5.9% | -4.9% | · | -3.8% | |
| ROIC | -11.0% | -14.6% | · | -24.6% | -10.5% | -9.6% | · | -7.1% | -8.2% | -8.8% | · | -7.7% | -6.2% | -5.3% | · | -3.8% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.3 | 2.4 | · | 1.3 | 1.6 | 1.9 | · | 2.1 | 2.1 | 1.9 | · | 2.4 | 3.2 | 4.4 | · | 6.1 | |
| Quick Ratio | 0.6 | 0.6 | · | 0.3 | 0.3 | 0.6 | · | 0.3 | 0.3 | 0.4 | · | 0.3 | 1.0 | 0.9 | · | 2.9 | |
| Debt / Equity | · | · | · | · | · | · | · | · | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Interest Coverage | -3.8 | -6.3 | · | -21.2 | -11.1 | -15.5 | · | -23.6 | -25.7 | -22.9 | · | -23.2 | -20.8 | -19.7 | · | -17.7 |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Inventory Turnover | 0.3 | 0.3 | · | 0.4 | 0.3 | 0.2 | · | 0.3 | 0.3 | 0.3 | · | 0.4 | 0.5 | 0.5 | · | 0.6 | |
| Receivables Turnover | 1.3 | 1.3 | · | 1.2 | 1.1 | 0.9 | · | 1.1 | 0.7 | 0.9 | · | 2.4 | 2.4 | 3.3 | · | · |
Valuation (TTM) 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $693M | $648M | · | $658M | $625M | $571M | · | $636M | $723M | $789M | · | $858M | $810M | $691M | · | $625M | |
| Net Income TTM | $-1.02B | $-1.03B | · | $-997M | $-897M | $-966M | · | $-1.05B | $-1.08B | $-1.02B | · | $-897M | $-787M | $-707M | · | $-607M | |
| P/E | -3.3 | -2.5 | · | -2.4 | -1.5 | -1.1 | · | -1.5 | -1.4 | -2.0 | · | -5.0 | -7.7 | -9.6 | · | -19.8 | |
| Earnings Yield | -30.6% | -39.8% | · | -41.6% | -68.5% | -94.8% | · | -68.1% | -72.5% | -48.8% | · | -20.0% | -13.0% | -10.4% | · | -5.1% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $710M | $629M | $891M | $701M | $502M |
| Gross Margin % | -34.1% | — | -57.0% | — | -34.1% |
| Operating Margin % | -206.7% | — | -150.7% | — | -87.1% |
| Net Income | $-1.63B | $-2.10B | $-1.37B | $-724M | $-460M |
| Diluted EPS | $-1.42 | $-2.68 | $-2.30 | $-1.25 | $-0.82 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.0 | — | 0.0 |
| Current Ratio | 2.3 | — | 1.9 | — | 10.6 |
| Quick Ratio | 0.8 | — | 0.4 | — | 5.9 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-647M | — | $-1.77B | — | $-530M |
Latest News Recent headlines mentioning this company
- Enphase Energy vs. Plug Power: Which Renewable Energy Stock Is a Better Buy in 2026?
- Craig-Hallum Boosts Price Target on Plug Power (PLUG) Following Strong Q1 Results and Improving Fundamentals
- Wall Street Says Plug Power Stock Is a Sell. Here's Why the Bears Are Dead Wrong.
- Here’s Why Plug Power Inc. (PLUG) Is Among the Most Traded US Stocks
- Why Plug Power Stock Soared Today
- Plug Power Stock Climbed 96% YTD and Hit New Highs After a Solid Q1 Beat. The Turnaround Might Be Finally Sticking.
- Plug Power Stock Pops on Earnings. The Hydrogen Company Improved Its Margins 71%.
- Plug Power's Revenue Growth is Accelerating. Is it Time to Buy the Hydrogen Stock?
- Dear Plug Power Stock Fans, Mark Your Calendars for May 11
- Why Plug Power Stock Surged on Tuesday
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Institutional owners (13F) 572 filers · $1.3B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 97 (+17 vs prior Q) | 41 (-9 vs prior Q) | 177 (+17 vs prior Q) | 103 (-9 vs prior Q) | +131.5M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC | $179,334,654 | 66,175,149 | 13.98% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $170,559,498 | 62,937,084 | 13.29% | Shares |
| STATE STREET CORP | $105,049,164 | 38,763,529 | 8.19% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $85,219,611 | 31,439,697 | 6.64% | Shares |
| TWO SIGMA INVESTMENTS, LP | $61,273,436 | 22,610,124 | 4.78% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $49,486,582 | 18,260,732 | 3.86% | Shares |
| MILLENNIUM MANAGEMENT LLC | $37,136,780 | 13,703,609 | 2.89% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $31,923,258 | 11,779,800 | 2.49% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $31,404,821 | 11,588,495 | 2.45% | Shares |
| BARCLAYS PLC | $29,457,158 | 10,869,800 | 2.30% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $26,998,519 | 9,962,553 | 2.10% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $24,165,341 | 8,917,100 | 1.88% | Call option |
| JANE STREET GROUP, LLC | $23,940,682 | 8,834,200 | 1.87% | Call option |
| TWO SIGMA ADVISERS, LP | $21,706,610 | 11,018,584 | 1.69% | Shares |
| GOLDMAN SACHS GROUP INC | $21,376,664 | 7,888,068 | 1.67% | Shares |
| VANGUARD GROUP INC | $17,241,340 | 8,751,949 | 1.34% | Shares |
| FIRST TRUST ADVISORS LP | $14,405,164 | 5,315,559 | 1.12% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $13,479,540 | 4,974,000 | 1.05% | Put option |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $13,231,616 | 4,882,515 | 1.03% | Shares |
| VAN ECK ASSOCIATES CORP | $12,600,015 | 4,649,452 | 0.98% | Shares |
| Erste Asset Management GmbH | $10,886,744 | 4,203,376 | 0.85% | Shares |
| FMR LLC | $10,864,184 | 4,008,924 | 0.85% | Shares |
| Mirae Asset Global Investments Co., Ltd. | $10,490,833 | 3,871,156 | 0.82% | Shares |
| Qube Research & Technologies Ltd | $9,536,816 | 3,520,398 | 0.74% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $9,287,097 | 3,426,973 | 0.72% | Shares |
| Amundi | $8,709,604 | 3,213,876 | 0.68% | Shares |
| ALPS ADVISORS INC | $7,368,924 | 2,719,160 | 0.57% | Shares |
| Swiss National Bank | $7,200,979 | 2,657,188 | 0.56% | Shares |
| COATUE MANAGEMENT LLC | $6,897,609 | 2,545,243 | 0.54% | Shares |
| Quadrature Capital Ltd | $6,688,323 | 2,468,016 | 0.52% | Shares |
| CITADEL ADVISORS LLC | $6,069,316 | 2,239,600 | 0.47% | Call option |
| Vontobel Holding Ltd. | $5,797,888 | 2,139,442 | 0.45% | Shares |
| JANE STREET GROUP, LLC | $5,622,166 | 2,074,600 | 0.44% | Put option |
| PINNACLE ASSOCIATES LTD | $5,570,077 | 2,055,379 | 0.43% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $5,137,607 | 1,895,796 | 0.40% | Shares |
| CITADEL ADVISORS LLC | $5,106,182 | 1,884,200 | 0.40% | Put option |
| Point72 Asset Management, L.P. | $5,069,367 | 1,870,615 | 0.40% | Shares |
| RHUMBLINE ADVISERS | $5,026,295 | 1,854,727 | 0.39% | Shares |
| Headlands Technologies LLC | $4,779,497 | 1,763,652 | 0.37% | Shares |
| Gotham Asset Management, LLC | $4,703,284 | 1,735,529 | 0.37% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $4,655,777 | 1,717,999 | 0.36% | Shares |
| UBS Group AG | $4,385,566 | 1,618,290 | 0.34% | Shares |
| Bank of New York Mellon Corp | $4,330,409 | 1,597,937 | 0.34% | Shares |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $4,222,015 | 1,557,939 | 0.33% | Shares |
| LPL Financial LLC | $4,035,839 | 1,489,240 | 0.31% | Shares |
| D. E. Shaw & Co., Inc. | $4,028,686 | 1,486,600 | 0.31% | Call option |
| BlackRock, Inc. | $4,004,703 | 1,477,750 | 0.31% | Shares |
| Baird Financial Group, Inc. | $3,780,634 | 1,395,068 | 0.29% | Shares |
| ALLIANCEBERNSTEIN L.P. | $3,559,932 | 1,575,191 | 0.28% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $3,526,289 | 1,560,305 | 0.27% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $3,315,680 | 1,223,498 | 0.26% | Shares |
| D. E. Shaw & Co., Inc. | $3,277,745 | 1,209,500 | 0.26% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $3,264,753 | 1,204,706 | 0.25% | Shares |
| Voleon Capital Management LP | $3,246,550 | 1,197,989 | 0.25% | Shares |
| MASTERS CAPITAL MANAGEMENT LLC | $2,710,000 | 1,000,000 | 0.21% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $2,695,416 | 1,040,701 | 0.21% | Shares |
| BANK OF AMERICA CORP /DE/ | $2,519,406 | 929,670 | 0.20% | Shares |
| MetLife Investment Management, LLC | $2,161,472 | 797,591 | 0.17% | Shares |
| STOREBRAND ASSET MANAGEMENT AS | $2,079,502 | 767,344 | 0.16% | Shares |
| Schonfeld Strategic Advisors LLC | $1,979,704 | 730,519 | 0.15% | Shares |
| Walleye Trading LLC | $1,978,300 | 730,000 | 0.15% | Call option |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $1,902,428 | 702,003 | 0.15% | Shares |
| Russell Investments Group, Ltd. | $1,901,934 | 701,821 | 0.15% | Shares |
| Lighthouse Investment Partners, LLC | $1,829,250 | 675,000 | 0.14% | Shares |
| BANK OF MONTREAL /CAN/ | $1,812,757 | 668,914 | 0.14% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $1,753,096 | 646,899 | 0.14% | Shares |
| CAXTON ASSOCIATES LP | $1,751,603 | 822,349 | 0.14% | Shares |
| WOLVERINE TRADING, LLC | $1,739,501 | 766,300 | 0.14% | Call option |
| BOOTHBAY FUND MANAGEMENT, LLC | $1,728,676 | 637,888 | 0.13% | Shares |
| Vanguard Global Advisers, LLC | $1,634,780 | 603,240 | 0.13% | Shares |
| BANCO BILBAO VIZCAYA ARGENTARIA, S.A. | $1,596,533 | 596,830 | 0.12% | Shares |
| Invesco Ltd. | $1,474,985 | 544,275 | 0.11% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $1,433,590 | 529,000 | 0.11% | Shares |
| CITADEL ADVISORS LLC | $1,417,970 | 523,236 | 0.11% | Shares |
| JUPITER ASSET MANAGEMENT LTD | $1,409,051 | 519,945 | 0.11% | Shares |
| Bouvel Investment Partners, LLC | $1,402,590 | 517,561 | 0.11% | Shares |
| JANUS HENDERSON GROUP PLC | $1,401,320 | 621,428 | 0.11% | Shares |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. | $1,386,257 | 511,534 | 0.11% | Shares |
| HSBC HOLDINGS PLC | $1,376,818 | 508,051 | 0.11% | Shares |
| Squarepoint Ops LLC | $1,373,498 | 506,826 | 0.11% | Shares |
| KIECKHEFER GROUP LLC | $1,355,000 | 500,000 | 0.11% | Shares |
| CSS LLC/IL | $1,343,618 | 495,800 | 0.10% | Put option |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO | $1,317,412 | 486,130 | 0.10% | Shares |
| JANE STREET GROUP, LLC | $1,289,759 | 475,926 | 0.10% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $1,285,009 | 474,173 | 0.10% | Shares |
| ALGERT GLOBAL LLC | $1,270,990 | 469,000 | 0.10% | Shares |
| Cetera Investment Advisers | $1,233,364 | 455,116 | 0.10% | Shares |
| State of New Jersey Common Pension Fund D | $1,151,265 | 424,821 | 0.09% | Shares |
| Balyasny Asset Management L.P. | $1,100,260 | 406,000 | 0.09% | Put option |
| Police & Firemen's Retirement System of New Jersey | $1,094,222 | 403,772 | 0.09% | Shares |
| 1492 Capital Management LLC | $1,082,271 | 399,362 | 0.08% | Shares |
| Marex Group Ltd | $1,028,548 | 379,538 | 0.08% | Shares |
| ARIZONA STATE RETIREMENT SYSTEM | $990,239 | 365,402 | 0.08% | Shares |
| PFG Investments, LLC | $988,741 | 364,849 | 0.08% | Shares |
| Fideuram Asset Management (Ireland) dac | $987,960 | 300,000 | 0.08% | Shares |
| Leonteq Securities AG | $929,056 | 342,825 | 0.07% | Shares |
| Vanguard Investments Australia, Ltd. | $921,942 | 340,200 | 0.07% | Shares |
| ExodusPoint Capital Management, LP | $911,227 | 336,246 | 0.07% | Shares |
| Toroso Investments, LLC | $910,231 | 462,046 | 0.07% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $901,801 | 332,768 | 0.07% | Shares |
Company insiders 68 insiders · 24 officers · 36 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Roger B Saillant | CEO | May 13, 2005 A | 50,169 | 0 | 0 | $0 |
| Paul B Middleton | CFO & Executive VP | June 25, 2026 A | 2,947,169 | 0 | 0 | $0 |
| Gerald A Anderson | Chief Financial Officer | Dec. 13, 2011 A | 132,229 | 0 | 0 | $0 |
| Jean M Nelson | Chief Financial Officer | Nov. 27, 2006 A | 24,000 | 0 | 0 | $0 |
| David A Neumann | Chief Financial Officer | Feb. 1, 2006 A | 35,282 | 0 | 0 | $0 |
| Jose Luis Crespo | President & Chief Revenue Officer | June 25, 2026 A | 307,332 | 1 | 0 | $87,282 |
| Dean Fullerton | Chief Operating Officer | June 25, 2026 A | — | 0 | 0 | $0 |
| Gregory A Silvestri | Chief Operating Officer | Feb. 1, 2007 S | 51,599 | 0 | 0 | $0 |
| Benjamin Toby Patrick Haycraft | CSO & GM EMEA | June 25, 2026 A | 333,809 | 0 | 5 | $-259,445 |
| Gerard L Conway JR | Gen. Coun, Corp Sec., Exec. VP | June 25, 2026 A | 259,482 | 0 | 0 | $0 |
| Martin Daniel Hull | Corporate Controller and CAO | April 6, 2025 F | 179,873 | 0 | 0 | $0 |
| Sanjay K Shrestha | CSO & GM, Energy Solutions | April 26, 2024 A | 160,270 | 0 | 0 | $0 |
| Keith Schmid | GM New Mkts & Pres New Prd Dv | Sept. 29, 2023 F | 474,776 | 0 | 0 | $0 |
| David Mindnich | EVP, Global Manufacturing | Sept. 5, 2023 F | 185,416 | 0 | 0 | $0 |
| Dirk Ole Hoefelmann | GM, Electrolyzers & Exec VP | Oct. 17, 2022 A | 280,064 | 0 | 0 | $0 |
| Erik J Hansen | VP of Sales | July 24, 2014 A | 54,633 | 0 | 0 | $0 |
| Adrian J Corless | Chief Technology Officer | July 24, 2013 A | 103,729 | 0 | 0 | $0 |
| Mark A Sperry | VP & GM, Continuous Power Div | Feb. 8, 2010 F | 87,802 | 0 | 0 | $0 |
| Bradley H Johnson | VP Customer Operations | Jan. 24, 2008 A | 5,001 | 0 | 0 | $0 |
| Allan Greenberg | Vice President, Sales | Jan. 24, 2008 A | 15,000 | 0 | 0 | $0 |
| Joseph M Millington | VP Human Resources | Jan. 24, 2008 A | 16,890 | 0 | 0 | $0 |
| Thomas M Hutchison | Vice President of Engineering | Jan. 24, 2008 A | — | 0 | 0 | $0 |
| Allen K Bucknam | VP Strategy and Business Dev | Oct. 22, 2007 S | 13,968 | 0 | 0 | $0 |
| John F Elter | VP Res. & System Architecture | Feb. 1, 2007 S | 42,820 | 0 | 0 | $0 |
| Gregory Kenausis | Director | July 1, 2026 A | 514,412 | 0 | 0 | $0 |
| Patrick Joggerst | Director | July 1, 2026 A | 253,184 | 0 | 0 | $0 |
| Colin M Angle | Director | July 1, 2026 A | 153,102 | 0 | 0 | $0 |
| Mark J Bonney | Director | July 1, 2026 A | 271,530 | 0 | 0 | $0 |
| Andrew Marsh | Director | June 30, 2026 A | 853,378 | 0 | 0 | $0 |
| Maureen O Helmer | Director | June 11, 2026 A | 361,318 | 0 | 1 | $-161,500 |
| Gary K Willis | Director | June 11, 2026 A | 730,107 | 0 | 0 | $0 |
| George C Mcnamee | Director | June 11, 2026 A | 873,282 | 0 | 0 | $0 |
| Kavita Mahtani | Director | April 1, 2026 A | 239,847 | 0 | 0 | $0 |
| Jonathan M Silver | Director | July 3, 2023 A | 75,715 | 0 | 0 | $0 |
| Jean A Bua | Director | July 3, 2023 A | 22,669 | 0 | 0 | $0 |
| Lucas P Schneider | Director | April 3, 2023 A | 135,302 | 0 | 0 | $0 |
| Kim Harriman | Director | July 1, 2022 A | 6,471 | 0 | 0 | $0 |
| Johannes Minho Roth | Director | July 1, 2022 A | 234,633 | 0 | 0 | $0 |
| FiveT Capital Holdings AG | Director | Nov. 13, 2020 S | 0 | 0 | 0 | $0 |
| Gregory B Graves | Director | May 9, 2019 A | 83,431 | 0 | 0 | $0 |
| Douglas T Hickey | Director | July 2, 2018 A | 109,912 | 0 | 0 | $0 |
| Air Liquide Investissements d'Avenir et de Demonstration | Director | Sept. 22, 2017 S | 39,324 | 0 | 0 | $0 |
| Xavier Pontone | Director | April 3, 2017 A | 31,161 | 0 | 0 | $0 |
| Larry Garberding | Director | April 3, 2017 A | 197,714 | 0 | 0 | $0 |
| Evgeny Miroshnichenko | Director | July 1, 2014 A | 62,254 | 0 | 0 | $0 |
| Evgeny Rasskazov | Director | July 2, 2013 A | 51,344 | 0 | 0 | $0 |
| DRAZAN JEFFREY M | Director | Jan. 10, 2011 A | 53,508 | 0 | 0 | $0 |
| Andrew Dimitri | Director | April 2, 2009 A | 7,391 | 0 | 0 | $0 |
| Dennis V Pivnyuk | Director | April 2, 2009 A | 9,916 | 0 | 0 | $0 |
| Michael E Mcguire Jr | Director | April 2, 2009 A | 11,816 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 26 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Grove Energy Capital LLC, Plutus Capital NY, Inc., PassKey, Inc., PNES Investments, LLC, PRISM Energy International Americas, Inc. (formerly known as SK E&S Americas, Inc.), SK Innovation Co., Ltd., SK Inc. (formerly known as SK Holdings Co., Ltd.) ×4 filings | June 25, 2025 | 4.80% | Amendment | — | SEC |
| Axane S.A., Air Liquide Investissements d’Avenir et de Démonstration, L’Air Liquide S.A. ×2 filings | Aug. 28, 2015 | — | Initial filing | — | SEC |
| Air Liquide Investissements d’Avenir et de Démonstration, L’Air Liquide S.A. | Aug. 28, 2014 | — | Initial filing | — | SEC |
| 1.1.1.2. Air Liquide Investissements d’Avenir et de Démonstration, 1.1.1.2. L’Air Liquide S.A. | March 19, 2014 | — | Initial filing | — | SEC |
| JSC “INTER RAO Capital”, Open Joint Stock Company “Inter RAO UES” ×3 filings | Dec. 5, 2013 | — | Initial filing | — | SEC |
| Interinvest Corporation Inc., Interinvest Consulting Corporation of Canada Limited, Interinvest (Bermuda) Ltd., Hans P. Black ×10 filings | Oct. 2, 2013 | — | Initial filing | — | SEC |
| OJSC “THIRD GENERATION COMPANY OF THE WHOLESALE ELECTRICITY MARKET” ×7 filings | Oct. 1, 2012 | — | Initial filing | — | SEC |
| FiveMore Fund Ltd, FiveT Capital AG ×3 filings | Aug. 16, 2012 | — | Initial filing | — | SEC |
| Austin W. Marxe and David M. Greenhouse | April 2, 2012 | — | Initial filing | Passive investment | SEC |
| MMC NORILSK NICKEL | May 10, 2011 | — | Initial filing | — | SEC |
| VLADIMIR O. POTANIN | April 17, 2009 | — | Initial filing | — | SEC |
| SMART HYDROGEN INC., MMC NORILSK NICKEL, CLAYBURN DEVELOPMENT INC., BRANTON LIMITED, VLADIMIR O. POTANIN ×6 filings | Dec. 23, 2008 | — | Initial filing | — | SEC |
| Undisclosed reporting person | May 21, 2008 | — | Initial filing | — | SEC |
| Undisclosed reporting person | April 25, 2008 | — | Initial filing | — | SEC |
| Mechanical Technology Incorporated ×3 filings | Aug. 26, 2005 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 60 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| HYDR · Global X Funds | 10.78% | 4,582,207 NS | May 31, 2026 | N-PORT |
| ACES · ALPS ETF Trust | 6.04% | 2,221,141 NS | May 31, 2026 | N-PORT |
| CTEX · ProShares Trust | 4.11% | 76,686 NS | May 31, 2026 | N-PORT |
| CTEC · Global X Funds | 3.66% | 313,372 NS | May 31, 2026 | N-PORT |
| VCLN · Virtus ETF Trust II | 3.22% | 65,697 NS | April 30, 2026 | N-PORT |
| UPGR · DBX ETF Trust | 2.72% | 45,017 NS | May 29, 2026 | N-PORT |
| ICLN · iShares Trust | 2.60% | 26,099,948 SH | Aug. 8, 2026 | Daily |
| DRIV · Global X Funds | 1.45% | 1,749,899 NS | May 31, 2026 | N-PORT |
| PBW · Invesco Exchange-Traded Fund Trust | 1.34% | 2,814,575 SH | Aug. 8, 2026 | Daily |
| PBD · Invesco Exchange-Traded Fund Trust … | 0.62% | 546,580 SH | Aug. 8, 2026 | Daily |
| IBAT · iShares Trust | 0.59% | 203,975 SH | Aug. 8, 2026 | Daily |
| ZAP · Global X Funds | 0.37% | 535,646 NS | April 30, 2026 | N-PORT |
| CCSO · Tidal Trust II | 0.34% | 50,063 NS | April 30, 2026 | N-PORT |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.31% | 1,033,404 NS | April 30, 2026 | N-PORT |
| TRFM · ETF Series Solutions | 0.28% | 141,138 NS | April 30, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.23% | 535,122 NS | April 30, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.22% | 1,467,658 SH | Aug. 8, 2026 | Daily |
| BKSE · BNY Mellon ETF Trust | 0.19% | 48,112 NS | April 30, 2026 | N-PORT |
| IWO · iShares Trust | 0.17% | 12,357,973 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.15% | 1,962,355 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.13% | 62,342 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.13% | 574,050 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.12% | 6,685,093 NS | May 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.11% | 7,879,066 SH | Aug. 8, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.10% | 18,523,360 SH | Aug. 8, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.10% | 773,039 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.10% | 4,411,733 NS | April 30, 2026 | N-PORT |
| MADE · iShares Trust | 0.09% | 28,434 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.09% | 304,075 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.09% | 34,913,930 SH | Aug. 8, 2026 | Daily |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.08% | 306,364 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.08% | 48,822 NS | May 31, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.06% | 96,356 NS | April 30, 2026 | N-PORT |
| FIDU · FIDELITY COVINGTON TRUST | 0.06% | 392,151 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.06% | 49,326 NS | May 31, 2026 | N-PORT |
| VB · VANGUARD INDEX FUNDS | 0.05% | 31,958,013 SH | Aug. 8, 2026 | Daily |
| VIS · VANGUARD WORLD FUND | 0.05% | 1,612,232 SH | Aug. 8, 2026 | Daily |
| ISCB · iShares Trust | 0.04% | 61,410 SH | Aug. 8, 2026 | Daily |
| ESML · iShares Trust | 0.04% | 604,852 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.04% | 15,999,756 SH | Aug. 8, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.03% | 39,980 NS | April 30, 2026 | N-PORT |
| WSML · iShares Trust | 0.02% | 80,338 SH | Aug. 8, 2026 | Daily |
| HDG · ProShares Trust | 0.02% | 1,238 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.02% | 42,795 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.02% | 146,772 NS | April 30, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.01% | 93,426 NS | April 30, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 383,879 NS | May 31, 2026 | N-PORT |
| VEGN · ETF Series Solutions | 0.01% | 6,489 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.01% | 1,659,376 NS | April 30, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.01% | 44,376,438 SH | Aug. 8, 2026 | Daily |