Here's Why Futu, Plug Power, Palantir Are Moving

One of the most common questions traders have about stocks is “Why Is It Moving?”.

That’s why Benzinga created the Why Is It Moving, or WIIM, feature in Benzinga Pro. WIIMs are a one-sentence description as to why that stock is moving. 

Here’s why shares of Futu Holdings, Plug Power and Palantir are moving Tuesday. 

Shares of Futu Holdings Ltd FUTU are trading higher after Morgan Stanley initiated coverage with an Overweight rating and $253 price target. 

Futu operates digitized brokerage and wealth management platforms in Hong Kong, China, the United States and internationally.

See also: Best Stocks Under $20

Shares of Plug Power Inc PLUG are trading higher after the company announced via press release a joint venture with Acciona, headquartered in Madrid. 

The press release states the joint venture will be a leading green hydrogen platform serving clients in Spain and Portugal, providing cost-efficient and competitive green hydrogen to multiple end markets.

Acciona is a global leading supplier of sustainable infrastructure solutions while Plug provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe.

Shares of Palantir Technologies Inc PLTR are trading lower in Tuesday’s premarket session after the Denver-based company reported fourth-quarter earnings.

Palantir reported adjusted earnings of 6 cents per share, beating the analyst consensus estimate of 2 cents per share.

The company reported quarterly sales of $322 million which beat the analyst consensus estimate of $300.74 million.

Palantir said it expects first-quarter sales growth of 45% year-over-year and 2021 sales growth of 30% year-over-year. 

Palantir delivers big data analytics software solutions to United States government projects. The company released its Gotham software platform in 2008, which is the platform that primarily focuses on providing data analytics solutions to the U.S. government’s intelligence and defense sectors.

Palantir also provides non-government organizations with solutions to manage large disparate data sets in an attempt to gain insight and drive operational outcomes.