First, let me apologize for my pun-derived title...I sometimes cannot control my desire for puns. Now, on with business.
PLUG Power (PLUG) has been on a mini-tear over the last week, from below $.60 per share to a high of $.72 today. And, today, PLUG disclosed that their chairman and their CEO purchased a combined 210,146 shares on the open market.
I love to see insider ownership. I love to see a company leader that eats what he's cooking. Looking at recent PLUG news and financials, I do see this as a true vote of confidence in their plan for profitability. PLUG formally announced a path and timeline to profitability in 2009, and has been working towards the milestones laid out in that plan: reduce net cash used for operating expenses, increase shipments and target margin percentage on fuel cell units in the mid-teens. Profitability will still take more than the next year to achieve, but it actually feels achievable now.
What's the feasibility for the fuel cell market to truly start expanding over the next 2-3 years? The Bloom Box brought some fast and furious attention to the fuell cell industry this quarter. Will that have a net positive affect? Is this technology to far off from mainstream acceptance for companies like PLUG, Ballard and FCEL to survive?
Personally, I like the technology. I like the idea. Now, let's see the margins! My patience now has a timer...PLUG, I'm giving you 15 months.