Plug Power (NASDAQ:PLUG) develops hydrogen fuel cell systems for electric vehicles and equipment. Shares closed at $2.23, up 23.20%. The stock moved higher after Q4 results showed a revenue beat, improving margins, and a CEO transition. Investors are watching execution on the turnaround plan and profitability targets.
Trading volume reached 222.8 million shares, coming in about 122% above its three-month average of 100.3 million shares. Plug Power IPO’d in 1999 and has fallen 99% since going public.
How the markets moved today
The broader market weakened Tuesday, with the S&P 500 (SNPINDEX:^GSPC) closing down 0.95% at 6,817, while the Nasdaq Composite (NASDAQINDEX:^IXIC) fell 1.02% to finish at 22,517. Among hydrogen fuel cell systems peers, Bloom Energy (NYSE:BE) closed at $153.01 (-7.83%), while Ballard Power Systems (NASDAQ:BLDP) finished at $2.07 (-4.17%), underscoring Plug Power’s outsized rebound.
What this means for investors
Plug Power’s fourth-quarter results were encouraging. The hydrogen production and fuel cell company beat estimates with 17.6% year-over-year revenue growth and a smaller loss than expected.
It’s getting to be crunch time for Plug Power investors. New CEO Jose Luis Crespo said the company aims to reach positive EBITDA (earnings before interest, taxes, depreciation, and amortization) by the fourth quarter. Crespo also assured investors that they could anticipate “positive operating income by the end of 2027, and full profitability by the end of 2028.”
With shares sinking more than 83% over the last three years, achieving those stated goals may be the only way to fully reverse that trend.
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Howard Smith has positions in Bloom Energy and has the following options: short March 2026 $60 calls on Bloom Energy. The Motley Fool has positions in and recommends Bloom Energy. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
