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Plug Power Inc Stock Skyrockets After Amazon.com. Inc
07 April 2017, 02:27 | Clarence Schmidt
Amazon Ups Investment in Fuel Cells
Plug Power (NASDAQ:PLUG) traded up 73.08% on Tuesday, hitting $2.25. (NASDAQ:AMZN) to utilize Plug Power fuel cells and hydrogen technology in its fulfillment network.
The number of shares now held by investors is 191.18 Million.
Amazon CEO Jeff Bezos yesterday stated that he is spending $1 billion a year to get his space company Blue Origin ready to take tourists to space as soon as next year.
The deal, the biggest in Plug Power's history, would also mean $70 million in added revenue this year alone for Plug Power, a company that had $85.9 million in total revenue last year and has never turned profitable. FBR & Co restated an "outperform" rating and set a $2.50 price objective on shares of Plug Power in a report on Monday, February 27th. The stock has a 50 day moving average of $1.17 and a 200 day moving average of $1.34.
Now the shares of Plug Power Inc.
Amazon will likely spend about $140 million with Plug Power next year, Reuters said.
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12/1/2016-Roth Capital Reiterated Rating of Neutral.
Average price target for Plug Power Inc. They now have a United States dollars 1.5 price target on the stock. The company had revenue of $32.60 million for the quarter, compared to analyst estimates of $32.54 million. A month ago, they told us to expect earnings of US$-0.06 per share while three months ago their EPS consensus estimate was US$-0.06.
Currently, the market capitalization of Plug Power Inc. "Ultimately, through all this investigation into the company's performance the analyst decides whether their stock is a "buy", sell" or hold". The consensus price target is $3.00, and the 52-week range is $1.25 to $8.88.
Plug Power, Inc. provides alternative energy technology, which focuses on the design, development, commercialization and manufacture of fuel cell system. (NASDAQ:PLUG), a leader in providing energy solutions that change the way the world moves, will host a business update conference call today, April 5, 2017.
Shares of fuel cell producer Plug Power (PLUG) gave back some of Wednesday's huge gain from an announced deal with Amazon in Thursday trading, but rivals FuelCell Technology (FCEL) and Ballard Power (BLDP) rose sharply as the deal signaled a renewed confidence in the technology. The Company's product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn. 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.
Its sales stood at -12.40% a year on average in the period of last five years.
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