Plug Power Stock Took a Dive. Here’s What Wall Street Thinks.

Shares of hydrogen and fuel cell technology company

Plug Power

took a hit after the company gave a disappointing update about how 2022 finished off. But Wall Street is still bullish about 2023.

Wednesday evening, Plug (ticker: PLUG) told investors that full-year sales for 2022 would be up about 45% to 50%. Based on the three quarters of results the company has already disclosed, that implies fourth-quarter sales of about $260 million. Wall Street was looking for closer to $285 million.