Plug Power Stock Soars as H.C. Wainwright Boosts Price Target to $7
Analyst H.C. Wainwright has significantly boosted its price target for Plug Power, setting it at $7, the highest on the stock market. This comes amidst a 70 percent stock surge and increasing institutional interest, despite a high short interest of over 40 percent. The company recently delivered its first 10-megawatt GenEco electrolyzer system to Portugal, set to become Europe's largest green hydrogen plant.
The price target hike is attributed to rising electricity prices and growing support for nuclear power, making hydrogen solutions more competitive. Amit Dayal, the analyst behind the $7 target, believes Plug Power's prospects have improved significantly. The stock has been volatile, with a short interest of over 40 percent, but institutional investors are showing increased interest.
Plug Power's latest project in Portugal is set to produce up to 15,000 tons of renewable hydrogen annually, replacing 20 percent of the 'gray' hydrogen currently used. Despite a recent net loss of $2.1 billion, management expects gross margins to balance by the fourth quarter of 2025 and operating income to be positive by the end of 2027. A new analysis from October 3 provides recommendations for shareholders on whether to buy or sell the stock.
Plug Power's stock price has surged, with analysts like H.C. Wainwright raising their targets significantly. The company's recent project in Portugal and its long-term financial projections indicate a promising future for the green hydrogen provider. However, the stock's extreme volatility and historical losses should be considered by potential investors.
Read also:
- Mural at blast site in CDMX commemorates Alicia Matías, sacrificing life for granddaughter's safety
- Germany Boosts EV Charging: 1,000 Fast-Charging Points on Motorways by 2026
- Albanese Invites LuLu Group to Australia as Free Trade Deal Takes Effect
- Comcast Introduces Sports-Oriented Video Bundle in Preparation for the World Cup Tournament
