Dallas, Texas 01/06/2014 (FINANCIALSTRENDS) – Plug Power Inc (NASDAQ:PLUG), the $265 million market capped diversified energy producing firm has had an extended charmed run at the markets over the past few weeks. Last week, it saw its valuation go up by another huge 51.7 percent in the past week, adding to the 230.3 percent increase the stock has posted in the past one month of trading. In the past six months, the long standing investors in the stock have seen their investments go up by a jaw dropping 690 percent. The sustained build up in momentum over the past week carried forward the stock upwards during trading on January 3. It posted an impressive 12 percent increase in valuation during trading on the day. In fact so huge was the investor interest that on January 3, its daily trading volume was 9 times more than its daily trading volume of 7.3 million.
The surge in the value of the stock in the past week was triggered by the announcement given out by Plug Power Inc (NASDAQ:PLUG) that its fourth quarter order book build up was well above previous expectations on January 4. With Friday’s surge, the stock price is 12 percent above its prior 52 week high price point of $2.33 per share. In the announcement last week, the company had indicated that it is expecting to bring in close to $32 million in revenue for the fourth quarter which will take its full year revenue well above the $24 million, it had achieved over the trailing 12 months. The company has also forecasted that the momentum in the sales order build up in 4Q will spill over into the first quarter of FY14 and will be well above its 1QFY13 achievement.
Readers should note that other clean energy stock like FireEye Inc (NASDAQ:FEYE) have also posted strong double digit growth in the past two weeks.