Plug Power Inc (PLUG)

[eFinanceMarkets]

Plug Power -15% despite CEO's rebuttal of Roth Capital's Sell case

Plug Power (PLUG -15%) CEO Andy Marsh refutes "misinformation" he says was discussed in a negative note earlier today from Roth Capital analyst Craig Irwin, who downgraded shares to Sell from Neutral, and repeats FY 2017 guidance.

PLUG's "shipping plans for Wal-Mart have not changed," Irwin says, the "strike price and number of Amazon warrants remains the same as announced on April 5," and the "recent announcements with major customers have increased new customer interest in our products, across the board."

The CEO also repeats FY 2017 guidance for revenues of $130M, GenDrive shipments of 5,600; gross margin of 8%-12%, and bookings of $325M.