Shares of Plug Power Inc PLUG are experiencing a notable increase in share price Tuesday afternoon following a company announcement involving a new financing deal for the company.
On Tuesday afternoon, the Albany Business Review released a report that outlines how Plug Power expects to “boost revenue.”
Within the report, CEO Andy Marsh stated, “the new financing options will help Plug generate more than $75 million in revenue this year...we're on track to do $130 million in revenue in 2015," Marsh said.
Following the release, shares of Plug Power surged roughly 5% to $4.30 and are continuing to move higher; currently trading at $4.44 up 6.2 percent.
It appears the $4 level is support, as it was tested five times since April and continued to hold strong.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
