Can Plug Power (PLUG) Sustain its Gains Through Friday?

NEW YORK (TheStreet) -- Pre-market activity indicates Plug Power  (PLUG) isn't through with its gains yet. After a stellar Thursday, which saw the stock increase 42.5% to $1.81, early market trading has seen it gain a further 13.3% to $2.05. Over the week, the alternative fuel-cell developer is up 146.3%.

The micro-cap saw heavy trading volume over Wednesday and Thursday after management shared positive news the company would likely turn a profit in 2014, the first time since its market debut 14 years earlier. To do so, it would need to ship 3,000 units over the 12 months starting January. The company's current facility has the resources to manufacture 10,000 units.

Positivity over its 2014 fiscal year stems from several big-order clients the Latham, N.Y.-based business expects to book in the fourth quarter ended December. These contracts would likely garner $30 to $40 million in revenue for the quarter and provide a recurring revenue stream over a multi-year agreement.

Despite the gains, TheStreet Ratings team remains bearish with a "sell" rating and score of D-. The team has this to say about its recommendation:

"We rate Plug Power (PLUG) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income and disappointing return on equity."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

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