Why did Capstone Green Energy Corporation (CGRN) stock plunge in the after-hours on Friday?

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CLIR Stock
CLIR Stock

Capstone Green Energy Corporation (CGRN) shares declined 5.59% in after-hours on Friday, October 29, 2021, and closed the weekly trading at $5.57. However, in the regular trading session, CGRN’s stock gained 2.97%. CGRN shares have risen 27.43% over the last 12 months, and they have moved up 11.74% in the past week. Over the past three months, the stock has gained 29.39%, while over the past six months, it has shed 27.78%.

Let’s have a brief discussion about its recent news.


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CGRN upcoming financial results announcement

On October 29, 2021, Capstone Green Energy Corporation (CGRN), announced that it expects to release full financial results for its second quarter of the fiscal year 2022, which ended September 30, 2021, on Wednesday, November 10, 2021, after market close. Capstone will host a live webcast to discuss those results, later that same day, at 1:45 p.m. Pacific Time (4:45 p.m. Eastern Time).

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CGRN received the new order

On October 28, 2021, Capstone Green Energy Corporation (CGRN) secured an order for three C65 microturbines for a cutting edge microgrid with integrated electric vehicle (EV) charging stations in Italy. IBT partnered with S4E System, a national ESCO provider, to develop the combined cooling heat and power (CCHP) microgrid solution – one of the first of its kind in Italy.

The project will reduce the site’s greenhouse gas emissions by over 1,000 tons annually and it’s expected to be commissioned in March 2022.

CGRN partnership with Baker Hughes

On October 27, 2021, Capstone Green Energy Corporation (CGRN), extended its strategic channel partnership agreement with leading energy technology company Baker Hughes.

Capstone uses Baker Hughes 5 MW, 12 MW, and 16 MW industrial gas turbines because of their similar focus on low emissions, long service intervals, low lifecycle costs, and vigorous hydrogen development programs.

First District Cooling Application for Llanogas

On October 20, 2021, Capstone Green Energy Corporation (CGRN) secured an order for a three-bay C400 Signature Series microturbine to be installed in a cogeneration application and supply electricity and cooling for Llanogas, a leading natural gas utility company in Colombia.

The new contract was secured through Capstone’s exclusive distributor for Colombia and Venezuela, Supernova Energy Services.

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Conclusion

There is no such news which we could link with its after-hours loss on Friday. Let’s see how it performs on Monday after the weekend.

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