Plug Power Inc (NASDAQ:PLUG) Has Good Beginning To 2014
Plug Power Inc (NASDAQ:PLUG) investors had a bumper start to new year 2014, when the stock of this diversified electronics maker jumped up by a jaw dropping 50 percent during trading yesterday. With this latest surge, the stock is trading 1841 percent above its prior 52 week low price points.
4Q Order Book Build Up Ignites Stock
The upward surge yesterday in the stock of Plug Power Inc (NASDAQ:PLUG) happened on the back of its announcement that it has overshot its fourth-quarter order book build-up targets. At the same time it gave a robust forecast for its first-quarter bookings and enthused its investors further by indicating that 1Q order book might grow bigger than its 4Q build up. In actual terms, this alternative energy firm had built up a order book worth $32 million for the 4Q and boasted of clients who are the who’s who of corporate America. These new clients include “Wal-Mart Stores Inc., Kroger Co., Procter & Gamble Co., Bridgestone Corp., BMW, Sysco Corp., Ace Hardware, CVS, Mercedes Benz, Lowes Cos., Stihl, and Coke.”
Super Charged Growth In Context
To put the 4Q sales effort in context, readers should note that in the trailing 12 months, Plug Power Inc (NASDAQ:PLUG) had managed to post sales of only $24 million. This means in a matter of two quarters, the company has managed to double its last year total order book value. It is this sustained and compounded growth in its operations that has attracted investors to this stock in the past 6 months.
Stock On Steroids Last Year
Yesterday’s jump comes on the back of close to 184 percent increase seen in its valuation in December and by close to 732 percent in the past 180 days. Thanks to the sustained surge in the markets confidence in its prospects, Plug Power Inc (NASDAQ:PLUG) has managed to garner a market cap of $159.9 million. Investors have also been paying attention to the fact that insider ownership in the stock has gone up by a whopping 600 percent in the past six months.