Plug Power Stock Surges 13%: What's Going On?

Plug Power Inc PLUG shares surged 14.4% to 99 cents Friday morning, despite a lack of company-specific news. The move appears partly driven by positive sentiment in the clean energy sector following peer FuelCell Energy's restructuring announcement, and reinforced by Plug's own recent strategic developments.

What To Know: In May, Plug shares gained 4%, supported by executive actions, financial updates and operational progress. Notably, the company filed a mixed shelf offering on May 28, enhancing its financial flexibility by enabling the issuance of equity and debt securities as needed.

While such offerings can raise dilution concerns, they also provide critical funding avenues amid ongoing liquidity pressures.

Earlier in May, Plug reported first-quarter revenue of $133.67 million, an 11% year-over-year increase, beating expectations. The surge was driven by a 575% increase in GenEco electrolyzer sales. However, a net loss of 21 cents per share, wider than expected, prompted analyst caution over profitability and cash flow.

Investor confidence was bolstered when CFO Paul Middleton purchased 350,000 shares on May 19, and CEO Andy Marsh pledged to take half his 2025 pay in company stock.

Despite challenges, Plug continues scaling hydrogen production and reaffirms its path to profitability by 2025.

Read Also: FuelCell Energy Stock Soars After Mixed Q2 Results: Targets Profitability With Scaled-Back Ops, Renewed Tech Focus

How To Buy PLUG Stock

By now you're likely curious about how to participate in the market for Plug Power – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

According to data from Benzinga Pro, PLUG has a 52-week high of $3.34 and a 52-week low of $0.69.

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