Why Plug Power Shares Are Rising

Shares of several companies in the clean energy space, including Plug Power Inc PLUG, are trading higher. US President Biden today discussed his framework, which includes a national network of 500,000 electric vehicle charging stations.

Clean energy and EV-related stocks have gained this year in anticipation of a US infrastructure bill, as clean energy and EV charging have been seen as beneficiaries of Biden's economic and infrastructure agenda.

Plug Power shares also gained earlier this month after the company announced a strategic partnership with Airbus to study the feasibility of bringing green hydrogen to future aircraft and airports worldwide. Also, Morgan Stanley recently upgraded the stock from Equal-Weight to Overweight and announced a $40 price target.

Plug Power is an innovator of modern hydrogen and fuel cell technology. It has revolutionized the material handling industry with its full-service GenKey solution, which is designed to increase productivity, lower operating costs and reduce carbon footprints in a reliable and cost-effective way.

Plug Power has a 52-week high of $75.49 and a 52-week low of $13.69.