Massive Contract Boosts PLUG Stock

Analysts are extremely bullish on PLUG

Digital Content Manager
Jan 6, 2020 at 9:59 AM
facebook twitter linkedin


The shares of Plug Power Inc (NASDAQ:PLUG) are soaring today, after the company won a contract from an unnamed Fortune 100 client for hydrogen fuel cell deployments at the "close of 2019." The contract is valued at more than $172 million. The stock is up 10.2% at $3.56 in response. 

Looking back, Plug Power stock hit a five-year peak just north of the $4 level back in late-November. While the shares sold off sharply following this high, their 100-day moving average helped capture the pullback. Now, PLUG is eyeing its first close back atop recent pressure at its 30-day moving average.  

Analysts have been optimistic over PLUG, despite the recent pullback. Five of the six in coverage call it a "strong buy." Plus, the consensus 12-month price target of $4.16 is a 28.8% premium to last night's close, and represents a level the equity hasn't touched since 2014. 

On the other hand, short sellers have a tight grip on the security, despite short interest falling 8.6% in the last two reporting periods. The 46.65 million shares sold short represent a solid 20.3% of PLUG's available float, and would take over a week to cover, at the stock's average pace of trading. 

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 

300x250 - Banner 3 - v1