One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the stock. Finally, Craig Hallum dropped their price target on shares of Plug Power from $49.00 to $31.00 in a research report on Tuesday, May 10th. Ke圜orp reissued an “overweight” rating and issued a $40.00 price target on shares of Plug Power in a research report on Thursday, June 2nd. Susquehanna Bancshares lifted their price target on shares of Plug Power from $26.00 to $30.00 and gave the company a “positive” rating in a research report on Wednesday, March 2nd. Citigroup dropped their price target on shares of Plug Power to $20.00 and set a “na” rating on the stock in a research report on Monday, May 16th.
Evercore ISI cut their price objective on shares of Plug Power from $50.00 to $46.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 2nd. Several equities analysts recently weighed in on PLUG shares. The stock had previously closed at $14.25. Approximately 1,127,133 shares traded hands during trading, a decline of 95% from the average daily volume of 20,962,854 shares. The stock traded as high as $16.03 and last traded at $15.96. ( NASDAQ:PLUG – Get Rating) shares were up 12% on Friday. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. Regardless of whose price target you choose to focus on, the potential is definitely there for Plug Power to capture a sizable share of an exciting and rapidly expanding alternative-fuel market. Let’s just see if the stock gets to Wolfe Research’s target of $34 first, then take it from there. However, I’m not quite prepared to accept a $78 price target. Wainwright’s reasons for leaning bullish on PLUG stock. The firm also observed the potential for Plug Power’s lead in the fuel cell and hydrogen space to make it an outsized winner. Wainwright has expressed its expectation that hydrogen and fuel cells will take meaningful share of the energy and transportation markets over the next decade. However, it’s lower than Dayal’s earlier price target of $85. That’s more than twice as high as Fleishman’s price target. Wainwright analyst Amit Dayal is correct in his aggressive prediction.ĭayal is pulling no punches here, as he’s preparing for the stock to reach an eye-popping price target of $78. Yet, could that target just be the beginning of a much bigger share-price move? That “story” could, indeed, translate to PLUG stock reaching $34. “We think that Plug will be among the first to transition from ‘story’ to one that has meaningful cash flow and growth,” he asserted. If I’m correctly reading what he’s saying, then Fleishman seems to agree with my generally bullish stance. Rather, I’m insisting that Plug Power is well-positioned to benefit from a global trend towards renewable energy sources. I’m certainly not trying to imply that the traditional, fossil-fuel-based automotive market will vanish tomorrow or next week. This bill could provide for billions of dollars to invest in renewable energy sources for automobiles.
administration is pushing hard for a federal infrastructure bill. According to Plug Power, the hydrogen economy’s growth is expected to accelerate, reaching up to 500 million to 800 million tons used per year by 2050 and supplying 20% of the world’s energy demand.Īt the same time, the current U.S. Is Fleishman wagering on the death of the traditional internal combustion engine? Not long ago, Wolfe Research analyst Steve Fleishman and his firm initiated their coverage on the stock with an “outperform” rating and an ambitious price target of $34. So, is it time for the shareholders to cut their losses and run for the hills? Targeting a TurnaroundĪt the very least, one prominent Wall Street expert doesn’t seem ready to give up on PLUG stock. 10, the share price had fallen to $24 and change. I was hoping for a resurgence – or at least some signs of life – in June and July. It’s entirely possible, but I won’t attempt to prove or disprove it.īy the summer, that rally in PLUG stock had fizzled out. Some folks might suggest that the Reddit short squeeze mob was involved in that run-up. PLUG stock was trading at around $33 in June, after declining sharply from January’s 52-week high of $75.49. Looking back on my ill-timed statement, it’s now evident that any feeling of relief was premature. Brimming with confidence, on June 8, I declared, “After several months of downturn, it appears that PLUG stock is finally getting some relief.”
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