Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Quantum Fuel Systems Technologies Worldwide (NASDAQ:QTWW) jumped as much as 10% in early trading before giving back all of that gain to end the day slightly in the red.

So what: Quantum today announced a new $5.3 million order for large-diameter Q-Lite CNG storage tanks that could exceed $6 million if add-on features are included. Management said this shows momentum in the company's products being used in the conversion of Class 8 trucks to compressed natural gas.  

Now what: This is a decent order, but a lot more is needed for a company with just $31.9 million in revenue last year and a $23 million loss. Quantum needs to see orders of this size come through regularly and consistent growth in revenue to be a buy. After the initial stock jump it looks like the market saw that this wasn't a game changer later in the day. Keep an eye on the company's progress, because it's playing in promising growth markets, but I don't think this deal changes the investment thesis today.

Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.