Fast forward almost a full year and you're looking at a $5.00 stock, with gains of 1,000%+ in that same time frame. Now what? After months of a consolidating stock price, an end of year run may potentially be in the cards for Plug, because of, once again, a large increase in Q4 bookings.
Bookings for Plug Power are lumpy due to their size and scope and amount of time they take to close. CEO Andy Marsh hinted at a $30M order that was expected to close by mid September during the Q2 earnings call. Further more, Ballard Power hinted at a large amount of bookings for Plug around the end of 2014 in its most recent conference call. Below is an excerpt from that transcript that may spell deja vu for Plug Power and its shareholders due to a large increase in Q4 bookings.
It seems to be deja vu all over again. As more and more people get fed up with a stagnant, sideways moving stock, management may have large orders ready to be revealed towards the end of the year that may provide a boost to its stock performance. Thanks for the hint Ballard.
Technically, Plug Power is still in a downtrend from its skyrocket high of ~$11.50 back in March. A close above ~$5.30-$5.40 area is necessary for any move to take hold.
*We have a long bias in Plug Power and it's one of our top positions. Long-Term.
