Uncommon Ground: Electronic Arts Inc, 3D Systems Corporation, and Plug Power Inc.

Stocks trading at new levels today are Electronic Arts Inc. (NASDAQ:EA), 3D Systems Corporation (NYSE:DDD), and Plug Power Inc (NASDAQ:PLUG)

Jul 2, 2015 at 2:11 PM
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With the Dow Jones Industrial Average sitting in the red at last check, several stocks have hit unfamiliar territory today -- both good and bad. Let's take a look at some names that have made notable moves today, including video game expert Electronic Arts Inc. (NASDAQ:EA), 3-D printing concern 3D Systems Corporation (NYSE:DDD), and alternative energy firm Plug Power Inc (NASDAQ:PLUG).

  • Even though EA was last seen 0.9% lower at $67.41 amid broad-market headwinds, the shares were able to touch another 10-year high of $68.48 earlier. The stock has been a technical outperformer, beating the S&P 500 Index (SPX) by over 17 percentage points in the last three months. Regardless, short interest remains elevated. The 18.5 million Electronic Arts Inc. shares sold short equal almost 11 days' worth of trading, at the stock's typical volumes. If EA can keep reaching new heights, there's potential for an exodus of shorts to drive the shares even higher.

  • Although things haven't been great for DDD on the charts lately -- down over 42% in 2015 after earlier touching a three-year low of $18.27 -- the stock was last seen 2.1% higher at $19.01. Like EA, 3D Systems Corporation is heavily shorted; more than one-third of the equity's float is sold short, and would take over four weeks to buy back, judging by average trading levels. These bears might want to be on watch, though. DDD's 14-day Relative Strength Index (RSI) shows the shares are well into oversold territory, with a reading of 27.

  • PLUG is testing new lows, as well. The stock hit an annual low of $2.22 earlier, and was last seen 0.6% lower at $2.34. Over the past 12 months, the security has lost close to half of its value, but option traders still haven't been afraid to buy to open calls. Plug Power Inc's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio comes in at 10.46, putting it only 2 percentage points from an annual high. This means calls have been picked up over puts at a faster-than-usual rate of late.


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