Dallas, Texas 05/014/2014 (FINANCIALSTRENDS) –Plug Power Inc. (NASDAQ:PLUG) is scheduled to release its 1Q14 financial earnings today on May 14, 2014 at 09:30 a.m. EDT. However, the stock witnessed 4.87% gains in yesterday’s trade and closed at $4.09. Even the stock traded with more than double the volume of 55.17 million shares against its 30 day average trading volume of 26.85 million shares. The stock has delivered over 150% returns, year to date; however, significantly down from its recent 52 week high of $11.72 and well above its 52 week low of $0.22.
The Stock Booster:
Yesterday, Chief Operating Officer of Plug Power Inc. (NASDAQ:PLUG), Keith Schmid presented at Wedbush Transformational Technologies Management Access Conference and his statement there is believed to be a sincere stock booster. Schmid mentioned at the conference that Plug Power expects to ship over 3,000 units during the current fiscal with sales of approximately $70 million. This announcement seems to be convincing to the investors, who later might have decided to add more positions in this stock.
However, Plug Power’s financial performance was not so encouraging during 4Q13 or even for FY13 in overall as the company reported approximately 360% and 236% decline, respectively, in its net profit margin.
Company Brief:
Plug Power Inc. (NASDAQ:PLUG) if a modern fuel cell technology that offers cost effective power solutions helping the customers to increase productivity and reduce carbon footprints while lowering operating costs. Recently in April 2014, the company acquired assets of ReliOn Inc., which manufactures and commercializes hydrogen fuel cells. Plug Power’s clientele include some of the industry leaders like The Procter & Gamble Company (NYSE:PG), Wal-Mart Stores, Inc. (NYSE:WMT) and Mercedes Benz among others.
The company has already deployed over 4,500 units of its innovative hydrogen and fuel cell system which cumulatively accounts for more than 20 million hours of runtime.
