Plug Power's Outlook Dims, Analyst Downgrades Stock On Hydrogen Policy Risks And Limited Capacity Growth
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 27 2025
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Source: Benzinga
Analyst Downgrade: Plug Power Inc. shares fell after Seaport Global analyst Tom Curran downgraded the stock from Neutral to Sell, citing low activity in the clean hydrogen sector and negative developments in North America and Europe impacting revenue forecasts.
Liquidity Enhancement: The company improved its liquidity by approximately $30 million through a transfer of the Federal Investment Tax Credit to an investor, marking a significant transaction under the Inflation Reduction Act related to hydrogen storage and liquefaction assets.
Analyst Views on HYDR
Wall Street analysts forecast HYDR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HYDR is USD with a low forecast of USD and a high forecast of 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.
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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.
