Plug Power (PLUG) shares are in focus on Thursday after the clean energy company said its Georgia plant reached record levels of output in April. 

According to the Nasdaq-listed firm, the said facility produced 300 metric tons of liquid hydrogen last month, which it dubbed a “new benchmark for the US hydrogen industry” in its press release. 

At the time of writing, Plug Power stock is down nearly 70% versus its year-to-date high. 

Significant of Georgia Facility Output for Plug Power Stock

Plug Power recording highest monthly output at its Georgia facility is a meaningful development for investors as it demonstrates the scalability and reliability of its proprietary GenEco electrolyzer technology. 

Increased production capacity strengthens PLUG’s ability to meet growing demand from its major customers like Amazon (AMZN), Walmart (WMT), and Home Depot (HD), potentially accelerating revenue growth over time.  

Additionally, the achievement signals operational efficiency and cost competitiveness, which may improve margins and boost investor confidence to drive PLUG shares up in the remainder of 2025. 

Insiders Remain Bullish as Ever on PLUG Shares

Plug Power shares may be worth owning here also because Paul Middleton, the company’s chief of finance, loaded up on $250,000 worth of them earlier in May. 

“I’m confident in Plug’s long-term strategy and the opportunities ahead. This purchase reflects my belief in the company’s financial strength and growth potential,” he said in a statement regarding the transaction.  

Middleton’s transaction came only days after Plug Power reported its financial results for the first quarter. 

In Q1, the Nasdaq-listed firm generated nearly $134 million in revenue (up more than 10% on a year-over-year basis), beating estimates by more than $3.5 million. 

Finally, the clean energy company is committed to lowering its burn rate as well, which may also warrant an investment in the clean energy stock in 2025. 

Wall Street Sees Significant Upside in Plug Power

Investors should also note that Wall Street remains constructive on PLUG shares for the remainder of this year. 

While the consensus rating on Plug Power currently sits at “Hold” only, the mean target of $1.96 suggests the clean energy stock could more than double from current levels.