NEW YORK (TheStreet) -- Plug Power (PLUG) is rallying into its second day after announcing fourth-quarter orders which exceeded expectations on Thursday. The small-cap company has soared 12% to $2.61 during Friday's session and achieved gains of 69% over the past two days.
"As we significantly grow the business, Plug Power will increase its value-add for each customer through building our product base and establishing recurring revenue streams through hydrogen and service," said CEO Andy Marsh in a statement.
"Plug Power has seen significant traction closing out 2013, and we expect the first quarter of 2014 bookings to meet or exceed the fourth quarter of 2013," Marsh continued.
The Latham, NY-based business will report full fourth-quarter figures on Jan. 14.
Despite its recent success, TheStreet Ratings team rates PLUG POWER INC as a Sell with a ratings score of D-. The team has this to say about their recommendation:
"We rate PLUG POWER INC (PLUG) a SELL. This is driven by multiple 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: