Shares of Plug Power Inc. (NASDAQ: PLUG) are soaring in today�s trading. The penny stock reached a high of $0.92 in mid-day trading, and at last check, it was up 6.74% to $0.854, with volume up from daily average of 2 million to 3.58 million.
Plug Power shares are soaring on the back of some positive developments for the company. On Wednesday, the company announced that it received an extension from the NASDAQ for continued listing on the NASDAQ Capital Market. The company said that NASDAQ granted its request for continued listing pursuant to an extension of time, as permitted under NASDAQ�s Listing Rules.
Earlier this week, the company also announced that Central Grocers Inc. purchased an additional eleven GenDrive� fuel cell units from it. Plug Power CEO Andy Marsh said that Central Grocers is a perfect example of a customer who built their facility with an expanding hydrogen fuel cell-powered lift truck fleet in mind.
Last month, Plug Power announced the receipt of third purchase order from Sysco Corporation for its GenDrive fuel cell units.
Plug Power announced its third-quarter financial results back in November. The company reported that it shipped 170 GenDrive systems to its growing portfolio of commercial customers, during the third quarter of 2010. Plug Power reported a net loss of $9.3 million for the third quarter of 2010. The company�s third quarter total revenue came in at $5.8 million. The company�s product and service revenue for the quarter came in at $4.8 million, while its research and development contract revenue came in at $1 million. For the same period in 2009, the company reported total revenue of $2.5 million.
Plug Power is a Latham, New York-based development-stage Company, engaged in the designing, development and manufacturing of fuel cell systems for industrial off-road markets and stationery power markets globally.
- Need fast service and cheap rates from a broker? Click here to see my favorite place to trade PLUG
- Want more? Check out the message board buzz for PLUG
- See which newsletters are recommending this stock pick
- Get breakingnews alerts on this stock:� http://thestockmarketwatch.com/
No comments:
Post a Comment