What Happened?
Shares of fuel cell technology Plug Power (NASDAQ: PLUG) jumped 6.5% in the morning session after the stock extended its positive momentum from the previous day, fueled by favorable analyst commentary, strong sales figures, and significant bullish options activity.
The rally built on news that highlighted robust operational performance. An analyst from BTIG, while keeping a 'Hold' rating, pointed to a more than tripling of year-over-year sales for Plug Power's Electrolyzer products in the second quarter. This sales surge helped drive a 21% jump in the company's total revenue. Adding to the good news, the company secured an extended contract with logistics firm Uline through 2030 and forged a new partnership in Brazil. Underscoring the positive mood, traders flocked to the options market, where the volume of call options—bets that the stock will rise—jumped 80% above the daily average.
Is now the time to buy Plug Power? Access our full analysis report here, it’s free.
What Is The Market Telling Us
Plug Power’s shares are extremely volatile and have had 97 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was about 23 hours ago when the stock gained 5.8% as investors reacted positively to analyst commentary highlighting strong sales momentum and recent business developments, including new partnerships and contract extensions.
Despite BTIG reiterating a "Hold" rating, the market focused on the firm's positive operational commentary. The analyst noted robust sales of Plug Power's Electrolyzer products, which more than tripled year-over-year to $45 million in the second quarter, driving a 21% increase in total revenue. Further bolstering investor confidence, the company recently extended its contract with logistics firm Uline through 2030 and formed a new partnership with Brazil-based GH2 Global to deploy hydrogen-powered infrastructure.
Plug Power is down 15.9% since the beginning of the year, and at $1.96 per share, it is trading 37.8% below its 52-week high of $3.15 from January 2025. Investors who bought $1,000 worth of Plug Power’s shares 5 years ago would now be looking at an investment worth $152.65.
Do you want to know what moves the business you care about? Add them to your StockStory watchlist and every time a stock significantly moves, we provide you with a timely explanation straight to your inbox. It’s free and will only take you a second.
