What's Going On With Plug Power Shares?
Portfolio Pulse from Erica Kollmann
Plug Power, Inc. (NASDAQ:PLUG) shares have gained over 15% in the past five days. The company was upgraded from Market Perform to Outperform by Northland Capital Markets analyst Abhishek Sinha, with a price target of $22. Plug Power announced a large order for 100 MW of PEM electrolyzers for a green hydrogen project in Europe and was selected to supply two 5-MW PEM electrolyzer systems for green hydrogen projects in Australia. 20.29% of available shares are currently being sold short.
July 14, 2023 | 4:37 pm
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Plug Power shares have gained over 15% in the past five days following an upgrade by Northland Capital Markets and large orders for green hydrogen projects. However, 20.29% of available shares are being sold short.
The surge in Plug Power's stock price can be attributed to the positive analyst rating and the announcement of large orders for green hydrogen projects. However, the high short interest indicates that some investors are betting on the stock's price to fall, which could lead to increased volatility.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100