Today’s Research Reports on Stocks to Watch: Plug Power and MoSys
Despite downward pressure from the Energy Sector, U.S. markets rose Wednesday as investors eagerly await a trio of events, Britain’s general election, the European Central Bank’s policy meeting and testimony from former FBI Director James Comey’s in front of a Senate panel, on Thursday. The Dow Jones Industrial Average gained 0.18 percent to close at 21,173.69, up 7.14 percent year-to-date, while the S&P 500 Index gained 0.16 percent to close at 2,433.14, up 8.68 percent year-to-date.
“What we have tomorrow and next week is what is driving everything right now,” said Mark Kepner, managing director of sales and trading at Themis Trading. “Combine that with the Fed meeting next week and that’s a lot of uncertainty for the market.”
RDI Initiates Coverage on:
Plug Power Inc.
Plug Power’s shares surged 11.29 percent to close at $2.07 a share on Wednesday. The stock traded between $1.82 and $2.10 on volume of 13.97 million shares traded. On April 5th, the company announced an agreement with Amazon to utilize Plug Power fuel cells and hydrogen technology in Amazon’s fulfillment operations. Amazon has agreed to purchase approximately $70 million of Plug Power’s hydrogen fuel cells and other technology in 2017. Shares of the company dipped last month after analysts at Roth Capital lowered the company’s rating to “sell” from “neutral” and cut its price target on the stock to $1.30 from $2.25. Shares of Plug Power have gained approximately 72.5 percent year-to-date.
Access RDI’s Plug Power Research Report at:
MoSys’ shares spiked 125.61 percent to close at $1.85 a share on Wednesday. The stock traded between $0.86 and $1.94 on volume of 14.14 million shares traded. MoSys is a fabless semiconductor company enabling leading equipment manufacturers in the networking and communications markets to support the continual increase in Internet users, data and services. The company reported total net revenues were $1.2 million for the first quarter of 2017, compared to $1.5 million in the same quarter a year ago. GAAP net loss was $4.4 million, or ($0.66) per share, for the first quarter of 2017, compared with a net loss of $6.9 million, or ($1.05) per share, in the first quarter of 2016. In February 2017, MoSys completed a 1-for-10 reverse stock split of its common stock. Shares of MoSys have fallen approximately 19.6 percent year-to-date.
Access RDI’s MoSys Research Report at:
Our Actionable Research on Plug Power Inc. (NASDAQ:PLUG) and MoSys Inc. (NASDAQ:MOSY) can be downloaded free of charge at Research Driven Investing.
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