Plug Power stock rallies after raised billings outlook for 2021

Plug Power Inc. stock shares rallied more than 7% Tuesday, topping $70, after the hydrogen-fuel company said it raised its gross billings estimates for this year.

Plug Power
PLUG,
+12.69%
said it raised its guidance for 2021 gross billings to $475 million, from $450 million. The hydrogen-fuel company also raised 2024 gross billings target by more than 40% to $1.7 billion.