Plug Power Inc (NASDAQ: PLUG) is headed for the top in the market this morning, and for good reason. The company filed its latest 10-K with the SEC, and the results proved to be positive. Today, we’ll talk about:
- The financial results;
- what we’re seeing from PLUG stock as a result; and
- what we’ll be watching for ahead.
PLUG Announces Financial Results
As mentioned above, Plug Power is having a strong day in the market today after announcing its financial results. The results came by way of SEC filing. Here’s what we saw:
- Revenue – In the fourth quarter, PLUG generated revenue in the amount of $59.8 million. That figure proved to be well ahead of the $34.21 million generated in the fourth quarter one year ago. For the full year, revenue came in at $174.6 million. That figure proved year over year growth in the amount of 69.1%.
- Losses – In the report, the company said that it generated a loss of $0.36 per diluted share for the year. In the previous year, the company generated a loss of $0.56 per share.
- Operating Margin – Operating margins are continuing to improve. In the year 2018, the company had an operating margin of -39.79%. This figure showed compelling growth over the operating margin of -98.57% reported one year ago.
- Cash And Equivalents – At the end of the year 2018, the company had cash and cash equivalents amounting to $38.6 million. This figure compares well to the $24.8 million reported one year ago.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Plug Power, the news proved to be positive.
In the earnings report, the company showed investors that it is effectively seeing growth in revenue and margins while decreasing losses attributable to shareholders. So, it’s not surprising to see that excited investors are pushing the stock on a run for the top.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:51), PLUG is trading at $2.48 per share after a gain of $0.10 per share or 4.20% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on PLUG. In particular, we’re interested in following the story surrounding the company’s continued work to grow and expand value for investors. Nonetheless, we’ll continue to keep an eye on the news and bring it to you as it breaks!
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