Boston, MA 03/03/2014 (wallstreetpr) – Plug Power Inc. (NASDAQ:PLUG) shares were subject of a massive surge in the market after the company received unexpected purchase order from one of the biggest chain stores in American, Wall-Mart. Plug Power looks set to be the biggest beneficiary of Wal-Mart plans to adopt more renewable and clean energy technologies.
Plug Power Inc. (NASDAQ:PLUG) has received an order for its hydrogen fuel cells that are to be used to power a fleet of electric lift trucks in Walmart North America distribution centers, in the second quarter of the current fiscal year. It is understood Wal-mart has ordered 1,738 of Plug’s GenDrive fuel cell units that are to be deployed in the coming two years. Wal-Mart in a statement was quick to praise the agreement with Plug Power, as it will increase productivity with workers spending less time in fueling fork lift trucks.
Plug power rating in the market
Despite winning one of its biggest deals in the recent past for the supply of the hydrogen cells, Plug Power is still rated as a “Sale” by TheStreet research firm as it continues to show weaknesses in some of its key operating segments. The company has a weak return on equity ratio that is of most concern and continues to grapple with deteriorating net income.
Plug Power Inc. (NASDAQ:PLUG) when compared to the S&P 500 index and the Electrical equipment industry, has severely underperformed in terms of net income outcome. Revenue has also been on a decline trend, falling by 3.1% in the recent quarter and also underperforming below the industry average. One positive in this case is that the decline in revenue has not hurt the industry bottom line as earnings per share have been on a rise. Plug Power stock has increased by as much as 754.83% over the past year alone
Plug Power Inc. (NASDAQ:PLUG) closed the week on a high with its stock moving up by 6.87% to close the week at a high of $4.67
