NEW YORK (TheStreet) -- Plug Power (PLUG - Get Report) lost its spark Wednesday. The hydrogen fuel cell company reported a greater-than-expected loss Wednesday morning, leading some on StockTwits to question whether the CEO could deliver on his promise of profitability in 2014.
Plug reported a loss of 6 cents per share, excluding charges related to the fair value of common stock warrants. Analysts had expected a loss of 5 cents per share. Revenue beat estimates, coming in at $5.6 million vs. analysts' estimate of $5.35 million.The stock fell more than 5% by 12:30 p.m., when it was trading in the $3.80 range. However, sentiment remained 84% bullish, according to StockTwits analytics. In a statement, Plug CEO Andy Marsh reiterated promises for profitability in 2014. "Investments in the sales team, hydrogen generation, hydrogen distribution, geographic expansion and stack technologies are just some of the steps being taken by Plug Power today to build our future. We are targeting over $70 million in revenue for 2014, but these steps are expected to accelerate growth in the upcoming years," Marsh said. Most StockTwits users think more factories will start swapping out electric batteries for fuel cells. They anticipated another big deal like the Walmart (WMT) order that propelled Plug's shares to a high of $11.72 in March. The stock remains highly volatile.
$PLUG This stock is undervalued. Shorts enjoy till it lasts.Complete potential of this company is revealed. One way street - UP & Above ? San (@Tradejunky) May. 14 at 11:42 AMAt the time of publication the author held no positions in any of the stocks mentioned. This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.
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