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JP Morgan analyst Paul Coster is trying to single handedly cool off the hydrogen sector by initiating coverage on PLUG, FCEL, and BE with holds and lowered price targets. All are showing early losses due to this.
I think he will have the same effect as splashing water on a hot griddle.
MW Plug Power stock set to snap long win streak after J.P. Morgan says it is 'fully valued'
Shares of Plug Power Inc. (PLUG) dropped 6.0% in premarket trading Thursday, putting them in danger of snapping a seven-day win streak (http://www.marketwatch.com/story/plug-powers-stock-surges-again-after-more-than-doubling-the-past-6-days-2021-01-13), after J.P. Morgan analyst Paul Coster initiated a price target at a 14% discount. Coster started coverage of Plug Power at neutral with a price target of $60, after the stock closed Wednesday at $69.50, the highest close since October 2005 (http://www.marketwatch.com/story/plug-power-stock-rallies-to-nearly-15-year-high-after-analyst-calls-renault-deal-validating-11610478111). Coster said Plug Power is a "first- and fast-mover in the hydrogen fuel cell space with proven technology to pursue a massive market opportunity," and could grow sales to more than $1.2 billion by 2024. "This is our top pick in the hydrogen space, but [the stock is] fully-valued in our view," Coster wrote. The stock has more than doubled (up 116.0%) amid a seven-session win streak through Wednesday, which was the longest win streak since November 2019. The stock has skyrocketed four-fold (up 301.7%) over the past three months, while the S&P 500 has gained 9.2% the past three months.
I've been in FCEL since the 2s and have great hopes for further gains.
That said, I don't foresee us heading into the 20s without some news or an update. I also don't how long we can hold where we're at while we're waiting for it.
I've been wrong before.
Updated short interest. Up a couple million shares.
SETTLEMENT DATE......... SHORT INTEREST
12/31/2020.............................. 43,140,861
12/15/2020.............................. 34,391,634
https://www.nasdaq.com/market-activity/stocks/fcel/short-interest
Updated short interest. Not much change.
SETTLEMENT DATE......... SHORT INTEREST
12/31/2020.............................. 63,501,231
12/15/2020.............................. 63,377,106
What's with this Colin Rusch guy and his $23 price target?
Colin Rusch
Oppenheimer
Buy
01/12/21 $23.00
https://www.markets.co/plug-power-plug-received-its-third-buy-in-a-row-6/290001/?ref=tipranks
The 15 minute chart is showing a high tight flag formation, so I'm going to put my non-existent reputation on the line by saying we can expect another nice jump in the stock price anytime now.
Off topic to Velcro: Thanks for the fish oil recommendation last month. Already the pressure and pulsing in my neck has disappeared. I might just live long enough to enjoy some of my PLUG gains. :)
News like PLUG's last two releases can't be valued in one or two days trading. These will take months to properly value their effect on the stock price. It should only be up from here for a good long while.
Plug Power has been using VUZI glasses and they just announced a joint venture with Renault. Something tells me Renault might be using VUZI glasses soon also.
This will be a stand alone venture, which means we should get shares in it, correct?
A quick google search tells me Andy Marsh became PLUG CEO in 2008.
Good morning Big Daddy. I was starting to worry about you. Good luck today.
How many millions of shares did you have when you sold it at $8,000 per share?
Does anybody think this news could start that short squeeze we've been waiting for?
63.3 million short shares as of last count.
Who would have thought our 4th pedestal customer would be South Korea!
PLUG has big news that should send FCEL to new highs tomorrow:
Plug Power and SK Group to form partnership to accelerate hydrogen as an alternative energy source in Asian markets; SK Group will make a $1.5 bln investment in PLUG; stock halted
6:04 PM ET 1/6/21 | Briefing.com
Related Quotes
4:00 PM ET 1/6/21
Co and SK Group, one of the leading South Korean business groups, announce they intend to form a strategic partnership to accelerate hydrogen as an alternative energy source in Asian markets. Plug Power and SK Group intend to provide hydrogen fuel cell systems, hydrogen fueling stations, and electrolyzers to the Korean and broader Asian markets. Cos entered into a definitive agreement for SK Group to make a $1.5 bln strategic investment in Plug Power and are announcing a plan to form a joint venture in South Korea to support the rapidly growing Asian Market. This investment represents the largest U.S. clean energy PIPE in the last 20 years. Under the terms of the investment, a US subsidiary of SK Group will make a $1.5 bln investment in Plug Power by acquiring approximately 51.4 mln shares at $29.2893 per share. The investment is expected to represent an approximate 9.9% pro forma ownership stake in Plug Power. Transaction is expected to close in 1Q21.
Vuzix Completes Phase 2 Development and Delivers Customized Waveguide-Based Head-Worn Display Engine to a Major US Defense Contractor
9:32 AM ET 1/4/21 | Dow Jones
ROCHESTER, N.Y., Jan. 4, 2021 /PRNewswire/ -- Vuzix(R) Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, announced it has completed the Phase 2 design, development and delivery of a customized waveguide-based head-worn AR Display Engine for a major US defense contractor. The phase-gated development program with this customer was originally announced in March 2020, with the Phase 2 leg announced in October 2020 now completed and delivered before December 31, 2020. The Company expects potentially further NREs in subsequent phases before a customer accepted final product design could lead to an eventual production program order.
"We are very pleased with the progress we continue to make with this major US defense contractor as we pursue an ultimate production opportunity with them," said Paul Travers, President and CEO of Vuzix. "OEM custom waveguide-based projects such as this represent a profitable vehicle for leveraging our extensive optical expertise and IP and we look forward to announcing further developments with this firm as the project proceeds."
About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 179 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2021 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan. For more information, visit Vuzix website, Twitter and Facebook pages.
This will undoubtedly be an explosive week in politics. How it affects FCEL remains to be seen.
The analysts, and most likely some new ones, will update expected price targets when annual earnings are announced on or about 1/20/21. Smart investors will anticipate which direction their targets will move and update their holdings accordingly.
There is a whole lot of year end bonus money waiting to be invested and I expect a fair portion of it to find its way into alternative energy companies like FCEL.
Put me down on the side predicting a new year rally in FCEL to above $15 by earnings. Time will tell who is right...and who is still predicting a drop to $7.
I think you and Jose are speaking the truth. I sold today for a modest profit and thank you both for working to educate investors regarding this stock.
I'll find someplace else, with more believable aspirations, to park my investment dollars.
Hopester, what is your definition of resistance?
Without looking up the official definition, I define resistance as prices above a stock's current price where people who bought at those higher prices will be likely to sell their shares if the stock should reach their buy in price, just being happy to get their original investment back.
If my definition is accurate, there are only 3 days in the past 27 months, all in the past week, that had prices higher than FCEL's price today. Those 3 days totaled about 300 million shares. 300 million shares is negligible resistance, especially since most of those were bought by people who are aware of FCEL's current potential.
You have to go all the way back to mid 2018 to find any real possible resistance which is in the $19 to $22 range. Most of those shares are likely already sold, but some are probably still held. When we get to $19, we can start talking about possible resistance, but until then I see clear sailing.
You should really stop referring to resistance as a reason to expect FCEL price to plummet. It doesn't reflect well on your understanding of TA.
Actually, he said, "$9.00+/-", so that means he can't be wrong no matter what.
Friday 12/11 and Monday 12/14.
Happy to help out.
Seriously? Shorts on a sub .03 cent stock?
Short interest down another 3.2 million
SETTLEMENT DATE................SHORT INTEREST
12/15/2020.............................. 63,377,106
11/30/2020.............................. 66,525,228
Richard Valera increased his target price from $35 to $40. He had just made the $35 target on 12/11. I've never seen an updated number so quickly before, without obvious news. Interesting.
Richard Valera
Needham
Buy..............Price Target for EGHT
12/23/20................. $40.00
I bought 7 Jan/23 7.50 calls today. Hopefully this has more to run.
Vuzix Enters into an Agreement with a Leading U.S. General Merchandise Retailer and Receives an Initial Deployment Order for M400 Smart Glasses
9:50 AM ET 12/22/20 | PR Newswire
ROCHESTER, N.Y., Dec. 22, 2020 /PRNewswire/ -- Vuzix(R) Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced the Company has entered into a supply agreement for ongoing business with one of the largest general merchandise retailers in the United States, as well as received an initial deployment order for M400 Smart Glasses that has already shipped and will generate low six-figure revenue during the Company's current quarter. The Vuzix M400 Smart Glasses are being used by this Fortune 100 customer to perform remote fulfillment center training for its employees.
"The Vuzix M400 Smart Glasses are being put to work to solve business problems by our customer base. This general merchandise retailer is another example of a customer that has moved very quickly from pilot to first levels of deployment to better support its business operations and employees in its day-to-day activities," said Paul Travers, President and CEO of Vuzix.
About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 179 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2020 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan. For more information, visit Vuzix website, Twitter and Facebook pages.
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to Vuzix' the potential of future business growth with this general merchandiser, the success of their implementation, and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.
Media and Investor Relations Contact:
Ed McGregor, Director of Investor Relations, Vuzix Corporation ed_mcgregor@vuzix.com Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road, Suite A, West Henrietta, NY 14586 USA,
Investor Information -- IR@vuzix.com www.vuzix.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/vuzix-enters-into-an-agreement-with-a-leading-us-general-merchandise-retailer-and-receives-an-initial-deployment-order-for-m400-smart-glasses-301197585.html
SOURCE Vuzix Corporation
/Web site: www.vuzix.com
You'll notice in my previous post, the article gives the analyst's best and worst case prices for the next year.
Does anybody remember back in March when Amit Dayal at H.C. Wainwright gave a buy recommendation of $14, but it was listed on Etrade at $34? I bet that was Amit's best case price and it was accidentally entered on Etrade instead of his $14 recommendation.
As far as I know, they don't usually make the best and worst case prices public, but I took that $34 error as a sign and loaded up. Amit is turning out to very accurate on his call.
Here's why:
DJ Plug Power Stock Has Surged 900% This Year. Why an Analyst Thinks It Can Keep Rallying. -- Barrons.com
4:17 PM ET 12/21/20 | Dow Jones
Related Quotes
Morgan Stanley analyst Stephen Byrd just ratcheted up his price target on Plug Power stock. He needed to if he wanted to keep his bullish rating. Shares of Plug Power, which primarily makes forklifts powered by hydrogen fuel cells, have already soared this year.
Byrd raised his price target for Plug Power (ticker: PLUG) by 162% to $38 on Monday. His new target is more than 15% above where shares were trading Monday afternoon. He upgraded the stock to the equivalent of Buy from Hold in September, when shares were trading for less than $14 each.
It turned out to be a good call. Shares are up more than 130% over the past three months, and about 900% year to date.
Looking ahead, Byrd sees more growth for the company. About $3 trillion of "market size is possible over time with the expansion of hydrogen use in multiple areas of the economy," he wrote in a Monday research report. He also believes Plug's history with hydrogen-fuel-cell-powered forklifts -- the company's primary products -- give it an advantage over newer fuel-cell players.
Investors have become more excited about the potential for hydrogen-based technologies, as Plug's stock-price performance might imply. Nikola (NKLA) fueled investor interest in hydrogen when it became a publicly traded entity in June. The company plans to launch a hydrogen-powered 18-wheeler truck in coming years. And investors also expect green technologies to get a boost from the incoming Biden administration.
Investors appear to be betting on Plug Power and not on Nikola after the latter company's roller-coaster year. Plug Power's market capitalization is almost $14 billion. Nikola's has slid to less than $7 billion.
Hydrogen-based technologies emit no greenhouse gases when burned or used in a fuel cell. And while hydrogen-gas production can emit greenhouse gases -- most hydrogen gas comes from natural gas -- the gas can also be produced from renewable electricity and water.
All of that clean-energy potential has made Plug Power a Wall Street darling. Eleven out of 12 analysts -- or 92% -- covering the stock rate shares at Buy. The average Buy-rating ratio for stocks in the Dow Jones Industrial Average is about 58%.
But recent gains have left shares trading above the average analyst price target of about $28. Byrd's target is now the highest on the Street among large brokers.
Byrd also on Monday boosted his price target for Bloom Energy (BE), which he rates Buy. His new price target is $32, up from $21, after Bloom shares gained 50% in a month. Bloom, for the most part, makes fuel cells for stationary power generators, and has a market cap of about $4.4 billion.
That smaller market cap might be why Bloom's stock got a bigger bump from Byrd's bullish call on Monday. Bloom shares rose 3.6% in Monday afternoon trading, while Plug stock is up 1.2%. The S&P 500 and Dow, for comparison, are down 0.3% and up 0.3%, respectively.
Byrd does acknowledge risks to his bullish view, mainly the possibility that slower development of the hydrogen industry could lead to slower growth for both companies. That is why his best- and worst-case scenario prices for both stocks are very wide.
In the best case, Byrd sees Plug going to $73 a share, but his worst case for the stock is $12. For Bloom Energy shares, his best-case price is $61, compared with a worst-case target price of just $1.50.
Write to Al Root at allen.root@dowjones.com
> Dow Jones Newswires
December 21, 2020 16:17 ET (21:17 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Hopester, you talk about resistance as if it is something that can't be overcome. For a stock like FCEL, resistance is only something to bash through on the way to new highs.
Nothing about chart reading is for certain. I suggest you try to be a bit less cocksure about your predictions, especially since you haven't been right yet on anything you've said about FCEL.
Ok, good. Thanks. All we need now is HH7's long awaited Groton news to set us off.
The chart I posted is correct. I'm sorry for muddling my message by including some MAs on it.
My message was that FCEL has formed a high tight flag and, if we break out over the high with volume, we could be on the cusp of a dynamic move upward.
Nothing fancy here. The charting software does it automatically. I just went to 12/2016 and took the stock price at that time. I know there has been at least one split in the past 4 years, so I mentioned it would be split adjusted.
Thank you, Hoghead7, for your constant due diligence and your willingness to share it. You are in the process of keeping a lot of us on the road to riches.
It's not the 200 day moving average. It's the 200 week moving average.
200 weeks is about 4 years. My chart tells me that on 12/2016 the price of FCEL was about $21 a share (split adjusted), so the moving average could be above today's price.
On a weekly chart, the 50 and 200 MAs are weekly moving averages, not daily.
I subscribe to an expensive charting service and try to convince myself that I can predict the future with it, but I really like this free website for the simplicity of its charts. Look at this weekly chart of FCEL:
https://schrts.co/gVQQcpFX
This shows a perfect example of a 'high tight flag', that is considered one of the most explosive breakout patterns. Here is an explanation of the 'high tight flag'.
https://www.investors.com/how-to-invest/investors-corner/learn-to-recognize-the-high-tight-flag/
The only thing we're waiting on is the high volume final breakout to new highs. Once we have that, we could be on a rocket ship to the moon.
....either that or we've topped out and gonna drop like a rock to 6. Lol!
About CEO Dave Sipes in his own words (from Linkedin):
I am passionate about leading high-growth companies with disruptive products, and building market-leading organizations.
Most recently, as RingCentral’s Chief Operating Officer, I led product, engineering and go-to-market functions for their 9 global offices and 350K+ customers worldwide. With a robust and talented technology and go-to-market team, we created a world-class customer-first culture, growing the company from $10MM per year to more than $750MM.
Before joining RingCentral, I co-founded and served as COO of Branders.com, the nation’s largest online B2B seller of promotional items. Prior to that, I worked in brand management at PepsiCo and was a principal at Booz Allen Hamilton in their marketing intensive group. In that role, I provided strategic guidance to marketing and media companies such as Heinz Company, Callaway Golf, and Universal Pictures.
I am a frequent speaker at industry events, including Enterprise Connect and Forbes CIO Summit. I hold an MBA with an emphasis on marketing from the Kellogg School of Management at Northwestern University, as well as a bachelor’s degree in business from the University of California, Berkeley.
(The bold emphasis was added by me)
Six analysts have updated their price targets for EGHT since the news was announced on 12/10 of the new CEO, Dave Sipes, taking over the reins. The closing price of EGHT was $21.27 on the day before his appointment was announced. They seem to approve of the change.
Richard Valera
Needham
Buy
12/11/20 $35.00
Josh Nichols
B.Riley Financial
Hold
12/11/20 $25.00
Gregory Lewis
BTI
Buy
12/11/20 $35.00
Timothy Horan
Oppenheimer
Buy
12/10/20 $29.00
Ryan MacWilliams
Stephens
Buy
12/10/20 $30.00
Ryan Koontz
Rosenblatt Securities
Buy
12/10/20 $18.00
I'm wondering if today's price jump is attributable more to the Walmart news or the Vuzix smart glasses news...or maybe a combination of the two?
https://ih.advfn.com/stock-market/NASDAQ/plug-power-PLUG/stock-news/83906426/plug-power-develops-vuzix-smart-glasses-based
:)
Updated short interest. About 6 million covered.
SETTLEMENT DATE......... SHORT INTEREST
11/30/2020............................... 66,525,228
11/13/2020............................... 72,548,750