What's Going On With Plug Power Stock?
Portfolio Pulse from Henry Khederian
Plug Power Inc's shares are trading lower by 1.95% to $6.40. The fall is attributed to JP Morgan analyst Bill Peterson maintaining shares with an Overweight and lowering the price target from $14 to $12. The stock also marked a new 52-week low this week following a price target cut from Truist Securities. The ongoing strength in Treasury yields, which makes safer investments like government bonds more attractive, is also affecting the stock.
October 05, 2023 | 6:27 pm
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Plug Power's stock is trading lower due to a lowered price target by JP Morgan and Truist Securities, and rising Treasury yields which make safer investments like government bonds more attractive.
The stock is trading lower due to a combination of factors. Firstly, JP Morgan analyst Bill Peterson maintained shares with an Overweight and lowered the price target from $14 to $12. Secondly, the stock marked a new 52-week low this week following a price target cut from Truist Securities. Lastly, the ongoing strength in Treasury yields, which makes safer investments like government bonds more attractive, is also affecting the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100