Plug Power Inc. (Nasdaq: PLUG) Stock Back on Track with Results and Guidance

Plug Power Inc. (Nasdaq: PLUG) shares jumped more than 18% to $8.48 intraday Thursday following solid earnings and rosy guidance.

While the fuel cell maker reported a loss, it still beat the sole estimate from Cowen & Co. and showed marked improvement in sales and revenue.

The Latham, N.Y.-based company reported total revenue for Q4 of 2013 of $8 million, up from $5.9 million in the same quarter a year earlier. For the full fiscal year, total revenue was $26.6 million, compared to $26.1 million a year ago.

PLUG also narrowed adjusted losses to $0.08 a share in the fourth quarter, compared with $0.25 a share last year. That was roughly right in-line with Cowen's estimates.

But it wasn't the improved numbers that sent shares soaring. It was the company's upbeat guidance.

Chief Executive Officer Andy Marsh said he believes PLUG will finish 2014 in the black thanks to robust orders that are expected to be up fourfold from 2013's total. Year to date, orders for fiscal 2014 have already exceed $60 million.

"I firmly believe that this continuing momentum will carry on throughout 2014, and that orders for this year will total more than $150 million - almost four times our total for 2013," Marsh said in a statement. "We are also on track to achieve our goal of EBITDAS break even by Q3 2014."

Less than three months into 2014, it's already been quite a year for PLUG....

What's Behind Plug Power's (Nasdaq: PLUG) 2014 Rollercoaster Ride

Founded in 1997, PLUG is an alternative energy provider of hydrogen fuel cell systems for the worldwide industrial off-road markets. It's just one of several microcap alternative energy stocks that have been on fire in 2014. Indeed, PLUG is one of Nasdaq's best performers so far in 2014.

Following is a timeline of PLUG's 2014 rollercoaster ride.

• PLUG shares got a jolt in mid-January when the company sealed a deal with FedEx Corp. (NYSE: FDX) to develop hydrogen fuel cell extenders for 20 FedEx electric trucks. The news sent shares surging a whopping 68% on Jan. 17 to a fresh 52-week high of $4.90.

• On Feb. 26, PLUG inked a huge deal with Wal-Mart Stores Inc. (NYSE: WMT). The world's largest retailer agreed to purchase 1,738 more of PLUG's signature GenDrive fuel cell units. Plus, Wal-Mart selected PLUG to supply the hydrogen needed to drive the units and also signed a six-year contract. Wal-Mart had already been using PLUG's hydrogen fuel cells at two refrigerated distribution centers. The February order was triple the number WMT presently had in use. The news sent shares up 15% to a new high of $6.99.

• Then on Friday, March 7, shares climbed 30.03% to $8.27 after CEO Marsh appeared on CNBC's "Squawk on the Street." Marsh talked about the company's meteoric rise and promising prospects and gave viewers an inside look at PLUG's facilities.

• Momentum continued into Monday, with shares spiking 24.67% to close at new 52-week high of $10.36. That put year-to-date gains at a blistering 565.15%.

• Tuesday, shares hit a stratospheric $11.72, marking another new high for the year. However, the gains were short-lived. Around 1 p.m., Citron Research came out with a scathing report on PLUG. Citron (formerly StockLemon.com) is run by renowned activist short seller, editor, and author Andrew Edward Left. In an unsigned note on its widely followed website, Citron called PLUG a "casino stock" and "the lowest form of speculative moonshot," maintaining its rise has been fueled by government incentives for renewable resources that will expire in 2016. The firm also suggested shares would slip back to its one-time trading price of $0.50. Over the volatile session, PLUG shares went from up 20% to down 35.5% to $6.68.

Thursday's earnings report appeared to vindicate PLUG and shift sentiment back in favor of the company. Data showed PLUG has a strong balance sheet that sports more than $66 million in cash.

Indeed, a lot hinged on PLUG's results, guidance, and future plans. On a conference call following the earnings report, Marsh said the company hopes to have news "soon" on its effort to partner in China.

"I am more bullish than ever that Plug Power is moving into a rapid growth cycle," Marsh said in a statement.

In afternoon trading Thursday, PLUG shares powered on. With all three benchmarks down roughly 1%, PLUG held on to gains. The stock was last trading up some 15% at $7.82.

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