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

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Shares of Plug Power Inc. PLUG, -0.54% dropped 3% in the extended session Tuesday after the hydrogen fuel-cell company reported a wider quarterly loss and sales that missed the mark slightly. Plug Power lost $107 million, or 19 cents a share, in the third quarter, compared with a loss of $65 million, or 18 cents a share, in the year-ago quarter. Revenue rose to $144 million from $107 million a year ago. Analysts polled by FactSet expected Plug Power to report a loss of 8 cents a share on sales of $145 million. Separately, Plug Power said it has agreed to buy Frames Group, a Netherlands-based maker of energy equipment. The deal, which includes 85 million euros ($98.5 million) in cash and 30 million euros in earnouts, is expected to close by the end of the year, Plug Power said.

This article was originally published by Marketwatch.com. Read the original article here.

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