%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment As a small start-up company in a nascent industry, %PlugPower (NASDAQ: $PLUG ) has struggled. However, things might be looking up for the micro-cap concern after its latest financial results. Plug Power is a fuel cell technology company. It makes %Hydrogen fuel cells used to replace conventional batteries. Management at Plug Power likes to say they’re at the bleeding edge of the electric vehicle revolution and their goal is to develop a next level battery capable of extending driving range. They’re also trying to develop a system that would allow batteries to recharge in a matter of minutes as opposed to several hours currently. As one might expect, it’s been tough sledding for Plug Power in recent years and the company’s shareholders have had to be patient. In the past five years, PLUG stock has declined 78%. Today, the shares trade at less than $1, putting them deep down on the penny stock league tables. The company’s market capitalization is only $924.84 million U.S., making it a micro-cap stock. However, Plug Power has secured some wins in recent years. The company’s hydrogen fuel cells power forklifts used at %Walmart (NYSE: $WMT ) distribution centres. Additionally, the company has attracted backing from some big names in the technology sector, including %Microsoft (NASDAQ: $MSFT ) co-founder Bill Gates and %Amazon (NASDAQ: $AMZN ) founder Jeff Bezos. Plug Power’s latest financial results were encouraging. The company announced an earnings per share (EPS) loss of -$0.21 U.S., which was worse than a loss of -$0.19 U.S. expected. Revenue in the quarter totaled $133.70 million U.S., which was ahead of the $132 million U.S. consensus forecast of analysts. Sales were up 11% from a year ago. In terms of guidance, management said they expect revenue of $160 million the current quarter. The guidance is above analyst estimates of $158.1 million U.S. The company also reported a notable improvement in its operating margins. In a news release, Plug Power CEO Andy Marsh said the company is “executing with focus and urgency.” Wall Street analysts expect Plug Power’s revenue to grow 23% over the next 12 months, an improvement versus the past two years. The average price target on PLUG stock among 20 Wall Street analysts is currently $2.03 U.S. per share, which is 134% above current levels. While not without risk, Plug Power might be worth consideration for investors who have long time horizons and strong stomachs.