Why Plug Power Stock Rocketed 20% Higher This Week

It’s been a volatile week of trading. There’s uncertainty surrounding the ongoing conflict in the Middle East, and oil prices have spiked. Amid the global unpredictability, Plug Power (PLUG 4.80%) stock rocketed as much as 30% higher this week after the energy company reported earnings.

With several hours remaining in Friday trading, Plug stock was up by about 20% for the week, according to data provided by S&P Global Market Intelligence.

Image source: The Motley Fool.

2025 goals achieved

Plug announced a fourth-quarter adjusted loss of $0.06 per share on $225.2 million in sales. Wall Street had expected a loss of $0.10 per share from $217 million in sales, according to FactSet (FDS 0.71%). That finished a year in which the company achieved its goal of over $700 million in revenue and a positive gross margin for Q4.

Plug also announced that a new CEO will lead its growth path forward. Jose Luis Crespo has assumed the role, intending to drive improving margins, leading to achieving positive operating income by the end of 2027 and reaching full profitability by the end of 2028.

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NASDAQ: PLUG

Plug Power

Today’s Change

(-4.80%) $-0.11

Current Price

$2.18

Key Data Points

Market Cap

$3.2B

Day’s Range

$2.15 - $2.31

52wk Range

$0.69 - $4.58

Volume

1.6M

Avg Vol

100M

Gross Margin

-3409.40%

Investors should remain wary, however. There’s a reason the stock has declined by 85% over the past three years. Plug still has over $1.3 billion in long-term debt from building up its hydrogen production capacity. It now has three facilities with a total capacity to produce up to 40 tons of liquid hydrogen per day.

Plug Power will need customers seeking to utilize that capacity, or its losses will keep growing. This week, however, investors found it a good place to invest in the energy sector.