What's Going On With Plug Power Stock?

Zinger Key Points
  • Plug Power shares are trading lower by 5.5% during Wednesday's session.
  • Major indexes are lower Wednesday following hotter-than-expected March inflation data.

Plug Power Inc PLUG shares are trading lower by 5.5% to $3.07 during Wednesday’s session amid overall market weakness. Major indexes are lower Wednesday following hotter-than-expected March inflation data.

In March, inflation in the United States exceeded economist expectations, with the annual Consumer Price Index (CPI) rising to 3.5%, surpassing the previous month’s rate of 3.2%. This marked the second consecutive month of increase, disappointing investors who were anticipating Federal Reserve interest rate cuts.

Additionally, the monthly CPI growth of 0.4% exceeded forecasts of 0.3%, indicating ongoing inflationary pressures…Read More

Is PLUG A Good Stock To Buy?

Wall Street analysts view Plug Power on the whole as a Neutral, given the history of coverage over the past three months. Craig Irwin from Roth MKM in Plug Power is the most optimistic, expecting a 100.0% rise in the stock in the coming year.

But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, Plug Power fell 17.09%, which indicates that opinion soured on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 0.64% over the past year.

A complete overview of how Wall Street views individual stocks is available here, while real time updates on the latest analyst actions will be delivered via Benzinga PRO. Try it for free.

According to data from Benzinga Pro, PLUG has a 52-week high of $13.44 and a 52-week low of $2.26.

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