Did Amazon's Plug Power Deal Put Fuel Cells Back on the Map?

Did Amazon's Plug Power Deal Put Fuel Cells Back on the Map?

Did Amazon's Plug Power Deal Put Fuel Cells Back on the Map?

Plug Power shares reacted to the news, jumping 80% to $2.35 in early trading Wednesday.

Yesterday Plug Power (NASDAQ:PLUG) traded 73.08% higher at $2.25.

The number of shares now held by investors is 191.18 Million. Recently, the commodity stands -1.32% away from the 52-week high and 171.08% from the 52-week low. Amazon will spend $70 million on the deal in 2017 and likely twice that next year, he said. Moreover, Daruma Capital Management Llc has 2.21% invested in the company for 2.97 million shares. The stock is now 99.19% away from its 50-day simple moving average and 56.05% away from the 200 day average. 4749445 shares were traded on Plug Power, Inc.'s last session. The stock's market capitalization is 263.84M, it has a 52-week low of 0.83 and a 52-week high of 2.28.

TRADEMARK VIOLATION NOTICE: "Q1 2017 EPS Estimates for Plug Power Inc Cut by Analyst (PLUG)" was published by The Cerbat Gem and is the sole property of of The Cerbat Gem.

Hydrogenics Corp. (NASDAQ: HYGS) shares were up about 1% at $7.17, with a consensus price target of $9.50 and a 52-week range of $3.90 to $10.33.

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Average price target for Plug Power Inc. The stock's price-to-book ratio is 4.79.

Tech giant Amazon announced today that it has acquired the right to buy up to a 23 percent stake in hydrogen fuel cell maker Plug Power. Volume topped 58 million shares in the first hour after the open, enough to make the stock the most actively traded on the major USA exchanges, and about 10 times the full-day average. FBR & Co also issued estimates for Plug Power's Q2 2018 earnings at ($0.06) EPS, Q3 2018 earnings at ($0.04) EPS, Q4 2018 earnings at ($0.03) EPS and FY2018 earnings at ($0.19) EPS.

The last time we saw a big signing like this was when Plug Power came to a supply agreement with Walmart in late 2013.

Since December 15, 2016, it had 0 insider buys, and 1 insider sale for $26,220 activity. The Company's product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn. The company focuses on proton exchange membrane, or PEM, fuel cell and fuel processing technologies and fuel cell and battery hybrid technologies. Chicago-based equity research firm Zacks Investment Research has assigned this stock ABR (Average Brokerage Recommendation) of 1.67, indicating analysts in general look favorably on the company's future prospects. News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plug Power, Inc. with MarketBeat.com's FREE daily email newsletter.

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