Plug Power (PLUG) has been under a strong bear grip, hence the stock is down -1.94% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 5.9% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 6.55% in the last 1 week, and is up 4.68% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Plug Power (NASDAQ:PLUG): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.78 and $1.75 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.80. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.79, notching a gain of 0.56% for the day. The total traded volume was 836,045 . The stock had closed at $1.78 on the previous day.
The stock has recorded a 20-day Moving Average of 2.11% and the 50-Day Moving Average is 0.36%. Plug Power Inc. has dropped 19.37% during the last 3-month period . Year-to-Date the stock performance stands at -15.17%.
Plug Power Inc. is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Companys product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn. GenKey offers solutions to customers transitioning their material handling vehicles to fuel cell power. GenDrive is a hydrogen fueled PEM fuel cell system. It provides power to material handling vehicles. GenFuel is the hydrogen fueling delivery system. It is designed to allow customers to refuel its GenDrive units for maximum productivity. GenCare is the ongoing maintenance program for both the GenDrive fuel cells and GenFuel products. ReliOn is the stationary fuel cell solution. It provides scalable, modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation and utility sectors.