Plug Power June 15th Short Interest Update

Plug Power (NASDAQ:PLUG) has seen a shortfall of 1,506,650 shares or 5.2% in the short interest. The remaining shorts are 15.4% of the total floated shares. The net short interest, as on June 15,2016, stood at 27,483,275 shares and the stocks days to cover will be 21 by factoring in the average per day volume of 1,298,897 shares. On May 31,2016, 28,989,925 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Plug Power (NASDAQ:PLUG): The stock opened at $1.71 on Friday but the bulls could not build on the opening and the stock topped out at $1.73 for the day. The stock traded down to $1.66 during the day, due to lack of any buying support eventually closed down at $1.71 with a loss of -2.29% for the day. The stock had closed at $1.75 on the previous day. The total traded volume was 3,282,529 shares.

The company shares have dropped -30.20% from its 1 Year high price. On Nov 4, 2015, the shares registered one year high at $2.98 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $1.81 and the 200 Day Moving Average price is recorded at $1.93.

Plug Power (NASDAQ:PLUG) has tumbled 2.29% during the past week and has dropped 6.04% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 0.66%. Plug Power (NASDAQ:PLUG) has underperformed the index by 3.2% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

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.

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