Plug Power Stock Is Rising: What's Going On?
Portfolio Pulse from Adam Eckert
Plug Power Inc (NASDAQ:PLUG) shares are trading higher after the company announced securing a new electrolyzer deal for a green hydrogen project in Europe. The electrolyzers, to be delivered in 2024, will generate approximately 43 tons of green hydrogen per day and eliminate about 516 tons of carbon dioxide daily. Earlier, Plug was selected to supply two five-megawatt PEM electrolyzer systems for green hydrogen projects in Australia. RBC Capital analyst Chris Dendrinos reiterated Plug Power with an Outperform rating and maintained a $12 price target.
July 13, 2023 | 2:38 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Plug Power's stock is trading higher following the announcement of a new electrolyzer deal for a green hydrogen project in Europe and a positive rating from RBC Capital.
The new deal for the green hydrogen project in Europe and the positive rating from RBC Capital are significant factors contributing to the rise in Plug Power's stock. The company's efforts in green energy and carbon reduction are likely to attract more investors, pushing the stock price higher.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100