Plug Power Stock Rises 6% After Securing Front-End Engineering Design Contract
(RTTNews) - Shares of Plug Power Inc. (PLUG) are moving up about 6 percent on Thursday morning trading after the company announced that it has been awarded the Front-End Engineering Design (FEED) contract to supply a 275 MW GenEco PEM electrolyzer system for Hy2gen Canada Inc.'s "Courant" project.
The company's shares are currently trading at $2.39 on the Nasdaq, up 6.22 percent. The stock opened at $2.1950 and has climbed as high as $2.43 so far in today's session. Over the past year, it has traded in a range of $0.69 to $4.58.
The company said that the contract reflects Plug's ability to support large-scale hydrogen and hydrogen-derived products.
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