Plug Power Seeks Approval to Double Authorized Shares
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: stocktwits
- Shareholder Vote Proposal: Plug Power is seeking shareholder approval to increase the number of authorized common shares from 1.5 billion to 3 billion; despite receiving approximately 84% support last year, the proposal failed due to the requirement for a majority of all outstanding shares, highlighting the company's urgent need for capital structure adjustments.
- Modernizing Voting Standards: The company proposes to amend its charter to modernize voting standards, allowing certain future charter amendments to be approved by a majority of votes cast rather than a majority of outstanding shares, aimed at enhancing governance flexibility and addressing past voting inconsistencies.
- Ensuring Financial Flexibility: These proposals are deemed critical for ensuring the company has the governance flexibility and capital structure capacity to meet its financial obligations, maintain operational flexibility, and support ongoing business needs, reflecting the company's focus on future growth.
- European Expansion Progress: Plug Power recently completed the installation of 100MW of PEM GenEco electrolyzers at Galp's Sines Refinery, part of its strategic expansion in Europe, indicating strong growth potential in the global market.
Analyst Views on PLUG
Wall Street analysts forecast PLUG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PLUG is 2.46 USD with a low forecast of 0.75 USD and a high forecast of 7.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
4 Buy
8 Hold
3 Sell
Hold
Current: 2.300
Low
0.75
Averages
2.46
High
7.00
Current: 2.300
Low
0.75
Averages
2.46
High
7.00
About PLUG
Plug Power Inc. is engaged in offering end-to-end green hydrogen ecosystem, from production, storage, and delivery to energy generation, to help its customers meet their business goals. The Company develops commercially viable hydrogen and fuel cell product solutions. It provides electrolyzers that allow customers, such as refineries, producers of chemicals, steel, fertilizer and commercial refueling stations, to generate hydrogen on-site. It focuses on industrial mobility applications, including electric forklifts and electric industrial vehicles, at multi-shift high volume manufacturing and high throughput distribution sites and environmental benefits; stationary power systems that supports critical operations, such as data centers, microgrids and generation facilities, in either a backup power or continuous power role and replace batteries, diesel generators or the grid for telecommunication logistics, transportation, and utility customers; and production of hydrogen.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.








