Plug Power Stock’s Turnaround Is Starting to Look Real

Hydrogen stocks have been frustrating investors over the past few years as the once-in-demand group has struggled with execution issues and other headwinds since its rise in the clean energy boom cycle. Plug Power (PLUG), however, recently got a boost when it announced first-quarter results that show the company has made significant strides towards profitability.

While Plug remains unprofitable, it has shown signs of progress with margin improvement, better hydrogen economics, and improved liquidity. Investors have taken notice of a stock that remains about 38% off its 52-week highs thanks to these developments. Now, it's a matter of seeing if Plug can convert operational improvements into profitability.