Stocks With Upside Potential: Plug Power Inc (PLUG), Parker Drilling Company (PKD) and Inovio Pharmaceuticals Inc (INO)
New York, NY – GDP INSIDER – 05/04/2014.
This article discusses three companies: Plug Power Inc (NASDAQ:PLUG), Parker Drilling Company (NYSE:PKD) and Inovio Pharmaceuticals Inc (NASDAQ:INO)
Plug Power Inc (NASDAQ:PLUG) declined slightly on Friday to close down 1.97% or $0.05 at $2.49 on lower than average trading volume with only 2.641 million shares trading hands, compared to its three month average trading volume of 3.61 million. The alternative energy and fuel cell developer has been underperforming the S&P 500 for most of the last twelve months with it losing 38.67% of its share price, compared to the S&P 500’s gain of 11.87% for the same period. With RSI of 35.46 and target price estimate of $3.86, the stock has strong upward potential, making it a solid hold for now.
Parker Drilling Company (NYSE:PKD) continued to decline on Friday with the stock declining another 1.60% or $0.06 to close the day at $3.69 with more than 1.068 million shares changing hands, compared to its three month average trading volume of 0.740 million. Despite the energy sector’s woes, Parker Drilling Company is now outperforming the S&P 500 with the stock up 20% for the year so far, compared to the S&P 500 which has only gained 2.40% over the same period. The RSI for Parker Drilling Company is currently 44.50, and it leads us to believe there is more upside before downside pressure mounts.
Inovio Pharmaceuticals Inc (NASDAQ:INO) saw a gain on Friday with the stock climbing 3.19% or $0.26 to close at $8.42 on very high trading volume of 1.491 million shares compared to its three month average trading volume of 1.14 million. Despite the gain, the US-based clinical-stage biopharmaceutical company has been declining steadily since the beginning of the year and is now down 8.28% compared to the S&P 500, which has gained 2.40% over the same period. The RSI of 40 indicates the stock is not undervalued at the current levels, the MFI of 41 shows the money is flowing in the right direction. That said, the stock could move higher, and these technical are not yet indicating a near term reversal.
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