Plug Power (NASDAQ:PLUG) Stock, Quote.Headers.trade-ideas

Plug Power

Plug Power is building an end-to-end green hydrogen ecosystem—from production, storage, and delivery to energy generation. The company plans to build and operate green hydrogen highways across North America and Europe. Plug will deliver its green hydrogen solutions directly to its customers and through joint venture partners into multiple end markets, including material handling, e-mobility, power generation, and industrial applications.

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Plug Power launches equipment leasing platform, aims to raise $150 million for growth. GTL Leasing invests $44 million in hydrogen transport and storage equipment. 

Plug Power Fuels Sales Boom With $150M+ Equipment Leasing Strategy - What&#39;s The Benefit?

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Plug Power Inc. secures 25MW order for PEM electrolyzers from BP and Iberdrola&#39;s Castellón refinery project in Spain, expected to reduce CO2 emissions by 23,000 tons annually.

Why Is Plug Power Stock Surging Premarket On Thursday?

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Plug Power has secured a contract with H2DRIVEN to support 25 MW of PEM electrolyzers for a green methanol project in Portugal.

Plug Power Secures Contract With H2DRIVEN For 25 MW Electrolyzers, Enhancing Green Methanol Project In Portugal

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Shares of companies in the broader industrial space are trading higher following the Fed's announcement to cut rates by 50 basis points yesterday, which could support investment and economic growth.

Plug Power Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) shares are trading higher today. The hydrogen solutions&nbsp;provider launched <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40935208/plug-power-launches-an-equipment-lease-financing-platform-plug-is-targeting-150-million-from-a-com" rel="noreferrer noopener">an equipment lease financing platform</a>.
The company aims to raise over $150 million in the near to mid-term through a combination of debt leverage and customer financing solutions.
The platform is designed to unlock capital from Plug&#8217;s equipment assets and offer financing options to drive sales growth.
In its initial step, Plug finalized three sale and leaseback deals totaling around $44 million with GTL Leasing, a portfolio company of Antin Infrastructure Partners.
&#8220;It provides for immediate capital with a path to additional capital over the near term, supports our growth in the green hydrogen sector, and aligns with Plug&#8217;s financial and operational objectives,&#8221; stated Plug CFO, Paul Middleton.
These agreements cover hydrogen transport and storage equipment, including trailers and cryogenic storage tanks. The transactions allow Plug to retain access to essential hydrogen equipment while enhancing its financial flexibility.
The capital raised will be reinvested into core operations, supporting the company&#8217;s long-term growth and expansion plans.
The platform is designed to improve Plug&#8217;s operational efficiency and resource management while providing partners like GTL with an attractive investment opportunity to grow their leased asset portfolios.
For GTL and other participants, this partnership offers long-term revenue potential, portfolio diversification, and deeper involvement in the green hydrogen economy, positioning them for sustained growth and expansion.
Nathalie Kosciusko-Morizet and Stephan Feilhauer, Senior Partner and Partner respectively at Antin Infrastructure Partners stated, &#8220;These transactions not only provide GTL with a robust portfolio of storage tanks and trailers—both cryogenic and gaseous—but also support some of the largest distribution centers in the U.S.&#8221;
On Wednesday, Plug Power secured a 25-megawatt (MW) order for its proton exchange membrane (PEM) electrolyzer systems from a major oil company <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40934580/why-is-plug-power-stock-surging-premarket-on-thursday" rel="noreferrer noopener">joint&nbsp;venture, Castellón Green Hydrogen S.L</a>.
Investors can gain access to the stock via&nbsp;Global X Hydrogen ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYDR#NASDAQ">HYDR</a>) and&nbsp;ETF Series Solutions Defiance Next Gen H2 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HDRO#NYSE">HDRO</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/24/08/40288778/plug-power-misses-q2-revenues-analysts-focus-on-electrolyzer-deployments-the-bar-was-set-low" rel="noreferrer noopener">Plug Power Misses&nbsp;Q2&nbsp;Revenues, Analysts Focus On Electrolyzer Deployments: ‘The Bar Was Set Low'</a>
Price Action: PLUG shares are up 5.95% at $2.225 at the last check Thursday.
Photo via Shutterstock
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Plug Power Fuels Sales Boom With $150M+ Equipment Leasing Strategy - What's The Benefit?

Plug Power shares are trading higher after the company launched an equipment lease financing platform.

This platform is intended to enable Plug to access capital by leveraging its equipment asset base and to provide equipment financing solutions to Plug&#39;s customers to support equipment sales growth.&nbsp;
As a first step in this platform, Plug signed three separate sale and leaseback transactions equivalent to ~$44 million&nbsp;with GTL Leasing, a portfolio company of Antin Infrastructure Partners.
These transactions enable Plug to retain access to crucial hydrogen equipment while strengthening its financial position. The funds generated will be reinvested into Plug&#39;s core operations and focused on driving long-term growth and expansion initiatives.
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Plug Power Reveals Establishment Of An Equipment Leasing Platform And Is Targeting Over $150M In The Near To Mid-term

Plug Power Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) shares are trading higher premarket Thursday. The company secured a 25-megawatt (MW) order for its proton exchange membrane (PEM) electrolyzer systems from oil companies BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) and Iberdrola S.A.&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/IBDSF#OTC">IBDSF</a>) <a target="_blank" href="https://www.ir.plugpower.com/press-releases/news-details/2024/Plug-Contracts-with-bp-and-Iberdrola-Joint-Venture-to-Supply-25-MW-of-PEM-Electrolyzers-for-bps-Castelln-Refinery-Project-in-Valencia-Spain/default.aspx" rel="noreferrer noopener">joint </a>venture, Castellón Green Hydrogen S.L.
The project will use five 5 MW containerized PEM electrolyzers to decarbonize BP&#8217;s Castellón refinery in Valencia, Spain and is expected to reduce CO2 emissions by 23,000 tons annually.
Plug&#8217;s electrolyzers will be deployed in a project led by BP and Iberdrola to produce green hydrogen, replacing a portion of the refinery&#8217;s current gray hydrogen, which is generated from natural gas.
This partnership with BP marks the start of a long-term collaboration to decarbonize operations, with potential expansion up to 2 gigawatts of electrolysis capacity.
Plug CEO Andy Marsh said, &#8220;The selection of Plug&#8217;s technology for this project serves as a clear example of our established industry expertise and proven technology.&#8221;
&#8220;Industry experts have highlighted the immense market potential for green hydrogen in Europe as being a key factor for reaching European Union decarbonization targets. This presents a significant opportunity for Plug, and we have the market knowledge and technology readily available to make a substantial impact.&#8221;
This month, Plug Power won a contract to support 25 MW of PEM electrolyzers for H2DRIVEN&#8217;s <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40834851/plug-power-secures-contract-with-h2driven-for-25-mw-electrolyzers-enhancing-green-methanol-proje" rel="noreferrer noopener">green methanol project in Portugal</a>.
The contract will provide Technical Evaluation Phase support for 25 megawatts of Proton Exchange Membrane Electrolyzers during the Front End Engineering Design process for a green methanol project in Portugal.
Apart from this, the company received a $10 million grant from the U.S. Department of Energy to scale its HYPER-Fuel project, which focuses on advanced hydrogen refueling infrastructure&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40735452/whats-going-on-with-plug-power-stock-today" rel="noreferrer noopener">for medium and heavy-duty vehicles</a>.
This funding is part of the DOE&#8217;s $62 million investment in 20 projects across 15 states to advance next-generation clean hydrogen technologies.
Investors can gain access to the stock via&nbsp;Global X Hydrogen ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYDR#NASDAQ">HYDR</a>) and&nbsp;ETF Series Solutions Defiance Next Gen H2 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HDRO#NYSE">HDRO</a>).
Price Action: PLUG shares are up 5.24% at $2.21 premarket at the last check Thursday.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/08/40288778/plug-power-misses-q2-revenues-analysts-focus-on-electrolyzer-deployments-the-bar-was-set-low" target="_blank" rel="noreferrer noopener">Plug Power Misses Q2 Revenues, Analysts Focus On Electrolyzer Deployments: &#8216;The Bar Was Set Low&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Plug Signs Agreement With BP And Iberdrola Joint Venture To Supply 25 MW Of PEM Electrolyzers For BP's Castellón Refinery Project In Valencia, Spain

Financial giants have made a conspicuous bearish move on Plug Power. Our analysis of options history for Plug Power (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) revealed 15 unusual trades.
Delving into the details, we found 0% of traders were bullish, while 100% showed bearish tendencies. Out of all the trades we spotted, 13 were puts, with a value of $980,019, and 2 were calls, valued at $90,000.
<h3>Predicted Price Range</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $4.0 to $5.0 for Plug Power over the recent three months. 
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Plug Power's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Plug Power's whale activity within a strike price range from $4.0 to $5.0 in the last 30 days. 
<h3>Plug Power Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726591557_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PLUG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$2.89</td>
<td>$2.85</td>
<td>$2.89</td>
<td>$5.00</td>
<td>$295.9K</td>
<td>27.9K</td>
<td>121</td>
</tr>
<tr>
<td>PLUG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$2.92</td>
<td>$2.87</td>
<td>$2.92</td>
<td>$5.00</td>
<td>$88.1K</td>
<td>27.9K</td>
<td>3.5K</td>
</tr>
<tr>
<td>PLUG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$2.91</td>
<td>$2.87</td>
<td>$2.91</td>
<td>$5.00</td>
<td>$85.2K</td>
<td>27.9K</td>
<td>1.5K</td>
</tr>
<tr>
<td>PLUG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$2.92</td>
<td>$2.87</td>
<td>$2.92</td>
<td>$5.00</td>
<td>$75.9K</td>
<td>27.9K</td>
<td>2.5K</td>
</tr>
<tr>
<td>PLUG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$2.92</td>
<td>$2.88</td>
<td>$2.91</td>
<td>$5.00</td>
<td>$73.3K</td>
<td>27.9K</td>
<td>2.5K</td>
</tr>
</tbody>
</table>

<h3>About Plug Power</h3>
Plug Power is building an end-to-end green hydrogen ecosystem—from production, storage, and delivery to energy generation. The company plans to build and operate green hydrogen highways across North America and Europe. Plug will deliver its green hydrogen solutions directly to its customers and through joint venture partners into multiple end markets, including material handling, e-mobility, power generation, and industrial applications.
Following our analysis of the options activities associated with Plug Power, we pivot to a closer look at the company's own performance.
<h3>Present Market Standing of Plug Power</h3>
<ul>
<li>With a volume of 33,213,916, the price of PLUG is up 7.62% at $2.12. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 51 days.</li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Plug Power options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Plug Power Unusual Options Activity For September 17

On Thursday, Plug Power, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) said it has secured a contract with H2DRIVEN, a project <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40831093/plug-signs-technical-evaluation-phase-contract-for-25-mw-of-pem-electrolyzers-with-dourog-s-and-ca" rel="noreferrer noopener">developed by Dourogás and CapWatt</a>.
The contract will provide Technical Evaluation Phase support for 25 megawatts of Proton Exchange Membrane Electrolyzers during the Front End Engineering Design process for a green methanol project in Portugal.
Leveraging the success of its Basic Engineering and Design Package for large-scale facilities, Plug has now introduced a comparable solution for projects involving multiple 5 MW PEM electrolyzer units.
The new TEP offering is designed to assist customers by providing essential technical information and support throughout the permit and funding application process, as well as during plant development.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/08/40288778/plug-power-misses-q2-revenues-analysts-focus-on-electrolyzer-deployments-the-bar-was-set-low" rel="noreferrer noopener">Plug Power Misses Q2 Revenues, Analysts Focus On Electrolyzer Deployments: &#8216;The Bar Was Set Low&#8217;</a>
This service aims to minimize risks and help customers make well-informed Final Investment Decisions.
Like the BEDP, the TEP offering focuses on delivering crucial insights and technical expertise to ensure successful project execution.
&#8220;This agreement underscores our leadership and expertise in PEM electrolyzer technology,&#8221; said Plug CEO Andy Marsh. &#8220;With the world&#8217;s largest PEM electrolyzer plant and extensive real-world experience, we are well-positioned to provide the technical support needed to advance this project.&#8221;
H2DRIVEN aims to strengthen the national economy and enhance resilience by advancing research and development, fostering innovation, diversifying production systems, and decreasing dependence on external markets.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, PLUG stock has lost over 77% in the past year. Investors can gain exposure to the stock via&nbsp;Global X Hydrogen ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYDR#NASDAQ">HYDR</a>).
Price Action: PLUG shares are trading lower by 1.55% to $1.91 at last check Thursday.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40282793/plug-power-defers-50m-in-sales-misses-revenue-forecast-jpmorgan-analyst-wants-a-sho" target="_blank" rel="noreferrer noopener">Plug Power Defers $50M In Sales, Misses Revenue Forecast: JPMorgan Analyst Wants A &#8216;Show-Me Story&#8217;</a></li>
</ul>

Plug Power Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, has secured a contract with H2DRIVEN, a project developed by Dourogás and CapWatt, to provide Technical Evaluation Phase (TEP) support for 25 megawatts (MW) of its Proton Exchange Membrane (PEM) Electrolyzers during the Front End Engineering Design (FEED) process for their green methanol project in Portugal.

Plug Signs Technical Evaluation Phase Contract For 25 MW Of Proton Exchange Membrane Electrolyzers With Dourogás And CapWatt For 80K Ton Per Year Methanol Project

Plug Power, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) has received a $10 million grant from the U.S. Department of Energy to scale its HYPER-Fuel project, which focuses on advanced hydrogen refueling infrastructure<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40726175/plug-awarded-10-million-doe-grant-to-lead-development-of-advanced-hydrogen-refueling-station-in-wa" rel="noreferrer noopener"> for medium and heavy-duty vehicles</a>.
The project involves developing liquid-to-gaseous and cryogenic dispensing hydrogen refueling stations. As per the deal, Plug Power will handle engineering, construction, operation, and training.
This funding is part of the DOE's $62 million investment in 20 projects across 15 states to advance next-generation clean hydrogen technologies.
The initiatives aim to improve hydrogen fueling infrastructure, showcase hydrogen-powered port equipment, and enhance processes for the efficient and equitable deployment of hydrogen technologies.
The station will offer fueling rates over 8 kg/min, a daily capacity of 2+ tonnes, and options for 350 and 700-bar pressurized hydrogen, including subcooled liquid and cryo-compressed forms, to support heavy-duty vehicles.
The project will build a hydrogen fueling station in Pullman, Washington, operational by 2026, to showcase advanced technologies.
This model could be replicated nationwide to meet refueling demands and boost hydrogen fuel cell use. The location is strategic due to the Pacific Northwest H2 Hub and Washington State's 2035 zero-emission vehicle mandate.
Earlier this year, Plug Power received nine DOE awards for Clean Hydrogen Electrolysis, Manufacturing, and Recycling under the Bipartisan Infrastructure Law, underscoring its leadership and dedication to advancing the green hydrogen economy.
Investors can gain access to the stock via Global X Hydrogen ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYDR#NASDAQ">HYDR</a>) and&nbsp;ETF Series Solutions Defiance Next Gen H2 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HDRO#NYSE">HDRO</a>).
Price Action: PLUG shares are down 0.29% at $1.735 at the last check Thursday.
Photo via Shutterstock
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<li><a href="https://www.benzinga.com//node/40731399" target="_blank" rel="noreferrer noopener">Science Applications International Q2 Earnings: Free Cash Flow Growth, Strong Pipeline For 2026, Annual Profit Outlook Hike</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

What's Going On With Plug Power Stock Today?

Plug Power Secures $10M Grant From US Department Of Energy To Demonstrate Next Generation Hydrogen Refueling Infrastructure For Medium And Heavy-duty Vehicles At Scale

Plug Power, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) shares are <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading lower on Thursday.</a>
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, PLUG stock has lost over 74% in the past year. Investors can gain exposure to the stock via&nbsp;Global X Hydrogen ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYDR#NASDAQ">HYDR</a>) and&nbsp;ETF Series Solutions Defiance Next Gen H2 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HDRO#NYSE">HDRO</a>).
The company has appointed Colin Angle, former CEO of iRobot Corporation, to its Board of Directors. Angle brings expertise in technology innovation, robotics, and strategic leadership to Plug Power&#8217;s Board.
&#8220;Colin&#8217;s insights and experience will help guide Plug Power as we scale our operations and deliver on our commitment to sustainability, revenue growth, and profitability,&#8221; said Andy Marsh, CEO of Plug Power.&nbsp;
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40282793/plug-power-defers-50m-in-sales-misses-revenue-forecast-jpmorgan-analyst-wants-a-sho" rel="noreferrer noopener">Plug Power Defers $50M In Sales, Misses Revenue Forecast: JPMorgan Analyst Wants A &#8216;Show-Me Story&#8217;</a>
Earlier this month, Plug Power said it announced the appointment of&nbsp;Dean Fullerton as COO.&nbsp;Fullerton comes from&nbsp;Amazon.com, Inc., where he was responsible for global engineering services and <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40253760/plug-power-stock-falls-on-q2-earnings-revenue-miss-eps-miss-soft-guidance-new-coo-and-more" rel="noreferrer noopener">oversaw operations engineering for 14 years.</a>
The firm deployed over $70 million of electrolyzer systems in the second quarter. The company noted that because of final commissioning and testing requirements, the majority of the deployments were not recognized as revenue in the quarter. Plug expects to recognize that revenue in the second half of 2024.
Plug Power expects full-year 2024 revenue to be in the range of&nbsp;$825 million&nbsp;to&nbsp;$925 million versus estimates of $917 million.
Price Action: PLUG shares are trading lower by 2.27% to $2.15 at last check Thursday.
Photo via Shutterstock
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<li><a href="https://www.benzinga.com/news/earnings/24/08/40507305/snowflake-stock-is-falling-thursday-whats-driving-the-action" target="_blank" rel="noreferrer noopener">Snowflake Stock Is Falling Thursday: What&#8217;s Driving The Action?</a></li>
</ul>

Management

AMZN

IRBT

Plug Power's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NYSE">PLUG</a>) short percent of float has fallen 5.53% since its last report. The company recently reported that it has 224.69 million shares sold short, which is 25.64% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.0 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Plug Power Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1723640416_0_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Plug Power has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Plug Power's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Plug Power's peer group average for short interest as a percentage of float is 10.31%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

Looking Into Plug Power's Recent Short Interest

Plug Power Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) shares are trading higher by 9.23% to $2.13 Tuesday afternoon. The stock appears to be surging higher amid a broader market reaction to the latest Producer Price Index (PPI) <a href="https://www.benzinga.com/markets/equities/24/08/40346275/tech-stocks-soar-treasury-yields-fall-on-cool-inflation-data-starbucks-rockets-chipotle-plummets">report</a>.
The PPI figures released showed a lower-than-expected increase, fueling investor optimism for a more aggressive Federal Reserve interest rate cut next month, which in turn has buoyed stocks across various sectors. 
This slower pace of inflation has led to heightened expectations of a substantial Federal Reserve rate cut in September, as market-implied probabilities for a 50-basis-point reduction have risen to 55%.
Read Also: <a href="https://www.benzinga.com/news/24/08/40347808/whats-going-on-with-netflix-stock">What&#8217;s Going On With Netflix Stock?</a>
Why This Matters: For Plug Power, a company deeply integrated into the green energy and hydrogen fuel cell markets, this economic backdrop has significant implications. Lower interest rates can have several beneficial effects on the company's financial standing and strategic positioning. 
First, reduced borrowing costs are likely to enhance Plug Power's ability to finance its expansion projects and research initiatives. With capital expenditures potentially becoming less expensive, the company could accelerate its plans to expand its hydrogen production capabilities and invest in new technologies, positioning itself more aggressively within the competitive renewable energy sector.
Moreover, a lower interest rate environment generally boosts investor sentiment, leading to increased capital flows into growth-oriented stocks, including those in the clean energy sector. 
In addition, lower rates can stimulate broader economic activity, potentially increasing demand for renewable energy solutions and fueling further growth for Plug Power. 
As businesses and governments continue to invest in green technologies, the company&#8217;s products and services could see enhanced adoption, aligning with global trends towards decarbonization and sustainability.
Read Also: <a href="https://www.benzinga.com/24/08/40288778/plug-power-misses-q2-revenues-analysts-focus-on-electrolyzer-deployments-the-bar-was-set-low">Plug Power Misses Q2 Revenues, Analysts Focus On Electrolyzer Deployments: &#8216;The Bar Was Set Low&#8217;</a>
<h2 class="wp-block-heading">Is PLUG A Good Stock To Buy?</h2>
An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages &#8211; like <a href="https://www.benzinga.com/quote/PLUG">Plug Power</a>&#8216;s page for example &#8211; there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. Plug Power does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's <a href="https://www.benzinga.com/calendars/dividends">dividend calendar</a> for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on <a href="https://www.benzinga.com/quote/PLUG">Plug Power</a> will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, PLUG has a 52-week high of $9.38 and a 52-week low of $1.91.

Why Plug Power Stock Is Seeing Blue Skies

Across the recent three months, 7 analysts have shared their insights on Plug Power (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>), expressing a variety of opinions spanning from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $2.63, with a high estimate of $4.00 and a low estimate of $2.00. Highlighting a 23.32% decrease, the current average has fallen from the previous average price target of $3.43. 
<img src="https://www.benzinga.com/files/images/story/2024/1723489235_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
The standing of Plug Power among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Chris Dendrinos</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$2.50</td>
<td>$3.50</td>
</tr>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$2.00</td>
<td>$3.00</td>
</tr>
<tr>
<td>Jordan Levy</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$2.00</td>
<td>$3.00</td>
</tr>
<tr>
<td>George Gianarikas</td>
<td>Canaccord Genuity</td>
<td>Lowers</td>
<td>Hold</td>
<td>$2.50</td>
<td>$3.00</td>
</tr>
<tr>
<td>Eric Stine</td>
<td>Craig-Hallum</td>
<td>Lowers</td>
<td>Buy</td>
<td>$4.00</td>
<td>$5.00</td>
</tr>
<tr>
<td>Michael Blum</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$3.00</td>
<td>$4.00</td>
</tr>
<tr>
<td>Kashy Harrison</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Underweight</td>
<td>$2.40</td>
<td>$2.50</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Plug Power. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Plug Power compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Plug Power's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
For valuable insights into Plug Power's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/PLUG/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Plug Power analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Delving into Plug Power's Background</h2>
Plug Power is building an end-to-end green hydrogen ecosystem—from production, storage, and delivery to energy generation. The company plans to build and operate green hydrogen highways across North America and Europe. Plug will deliver its green hydrogen solutions directly to its customers and through joint venture partners into multiple end markets, including material handling, e-mobility, power generation, and industrial applications.
<h3>Plug Power's Financial Performance</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Negative Revenue Trend: Examining Plug Power's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -44.9% in revenue growth, reflecting a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Industrials sector.
Net Margin: Plug Power's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of -183.0%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Plug Power's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -8.87%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Plug Power's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -5.45%, the company may face hurdles in achieving optimal financial performance.
Debt Management: With a below-average debt-to-equity ratio of 0.31, Plug Power adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Analyst Ratings: Simplified</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

Demystifying Plug Power: Insights From 7 Analyst Reviews

RBC Capital analyst Chris Dendrinos maintains Plug Power (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) with a Sector Perform and lowers the price target from $3.5 to $2.5.

Price Target

RBC Capital Maintains Sector Perform on Plug Power, Lowers Price Target to $2.5

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li>Truist Securities cut the price target for Hyatt Hotels Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/H#NYSE">H</a>) from $168 to $164. Truist Securities analyst Patrick Scholes maintained a Buy rating. Hyatt shares gained 1.3% to close at $135.14 on Friday. <a href="https://www.benzinga.com/quote/H/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Cantor Fitzgerald lowered the price target for CleanSpark, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>) from $28 to $23. Cantor Fitzgerald analyst Brett Knoblauch maintained the stock with an Overweight rating. CleanSpark shares fell 6.3% to close at $11.46 on Friday. <a href="https://www.benzinga.com/quote/CLSK/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Barclays cut Triumph Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGI#NYSE">TGI</a>) price target from $18 to $16. Barclays analyst Kannan Venkateshwar maintained an Overweight rating. Triumph Group shares fell 0.6% to close at $13.48 on Friday. <a href="https://www.benzinga.com/quote/TGI/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Stifel boosted the price target for PureCycle Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCT#NASDAQ">PCT</a>) from $7 to $8. Stifel analyst Michael Hoffman maintained a Buy rating. PureCycle Technologies shares fell 10.6% to close at $5.64 on Friday. <a href="https://www.benzinga.com/quote/PCT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>JP Morgan raised CarGurus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARG#NASDAQ">CARG</a>) price target from $29 to $32. JP Morgan analyst Rajat Gupta maintained an Overweight rating. CarGurus shares rose 20.3% to close at $26.94 on Friday. <a href="https://www.benzinga.com/quote/CARG/analyst-ratings">See how other analysts view this stock.</a></li>
<li>DA Davidson cut Hillenbrand, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HI#NYSE">HI</a>) price target from $54 to $33 DA Davidson analyst Matt Summerville downgraded the stock from Buy to Neutral. Hillenbrand shares fell 1.2% to close at $35.99 on Friday. <a href="https://www.benzinga.com/quote/HI/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Deutsche Bank increased the price target for Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) from $725 to $1,025. Deutsche Bank analyst James Shin upgraded the stock from Hold to Buy. Eli Lilly shares gained 5.5% to close at $891.68 on Friday. <a href="https://www.benzinga.com/quote/LLY/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Canaccord Genuity cut Plug Power Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) price target from $3 to $2.5. Canaccord Genuity analyst George Gianarikas maintained a Hold rating. Plug Power shares fell 5.3% to close at $1.97 on Friday. <a href="https://www.benzinga.com/quote/PLUG/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird boosted The Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) price target from $110 to $130. Baird analyst Vikram Kesavabhotla maintained an Outperform rating. Trade Desk shares rose 12.5% to close at $99.30 on Friday. <a href="https://www.benzinga.com/quote/TTD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler boosted Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) price target from $20 to $23. Piper Sandler analyst Patrick Moley upgraded the stock from Neutral to Overweight. Robinhood shares gained 1.1% to close at $17.92 on Friday. <a href="https://www.benzinga.com/quote/HOOD/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying LLY stock? Here&#8217;s what analysts think:
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="554" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12093008/image-79-1024x554.png" alt="" class="wp-image-489881" style="width:529px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12093008/image-79-1024x554.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12093008/image-79-300x162.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12093008/image-79-768x416.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12093008/image-79.png 1240w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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CARG

CLSK

HOOD

Eli Lilly To Rally Around 15%? Here Are 10 Top Analyst Forecasts For Monday

Susquehanna analyst Biju Perincheril maintains Plug Power (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) with a Neutral and lowers the price target from $3 to $2.

Susquehanna Maintains Neutral on Plug Power, Lowers Price Target to $2

Truist Securities analyst Jordan Levy maintains Plug Power (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) with a Hold and lowers the price target from $3 to $2.

Truist Securities Maintains Hold on Plug Power, Lowers Price Target to $2

Canaccord Genuity analyst George Gianarikas maintains Plug Power (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) with a Hold and lowers the price target from $3 to $2.5.

Canaccord Genuity Maintains Hold on Plug Power, Lowers Price Target to $2.5

Solar, clean energy stocks rally ahead of Fed decision on interest rates

Plug Power wins contract with BP-Iberdrola JV to supply PEM electrolyzers

Plug Power: Not Profitable And A Chronic Underperformer

Biggest stock movers Thursday: PLUG, NIO, and more

Plug Power launches equipment lease financing platform, targeting $150M-plus

In a report released today, Eric Stine from Craig-Hallum maintained a Buy rating on Plug Power (PLUG – Research Report). The company's shares close...

Plug Power (PLUG) Gets a Buy from Craig-Hallum

Biggest stock movers Thursday: BABA, PLUG, NIO, and more

The stock has been in a downtrend ever since the post-Covid highs of 2021.

Plug Power Unveils Leasing Platform: Innovation Or Desperation?

Truist Financial analyst William Stein assigned a Hold rating to the stock today. The company's shares closed yesterday at $2.06. According to TipR...

Plug Power (PLUG) Receives a New Rating from a Top Analyst

In a report released on September 20, Gregory Lewis from BTIG maintained a Buy rating on Plug Power (PLUG – Research Report), with a price target o...

BTIG Sticks to Their Buy Rating for Plug Power (PLUG)

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Press Releases

Plug to Announce 2024 Second Quarter Results

Earnings

Plug Power Announces Key Developments and Strategic Milestones in Second Quarter 2024

Plug Power Appoints Colin Angle, Former CEO of iRobot, to Board of Directors

Plug Awarded $10 Million DOE Grant to Lead Development of Advanced Hydrogen Refueling Station in Washington State

Plug Power Announces Completion of Undertakings Related to 2023 SEC Settlement

Plug Announces Participation at the H.C. Wainwright 26th Annual Global Investment Conference

Marathon Capital Hires James Fitzgerald as Head of Institutional Sales

Plug Signs Technical Evaluation Phase Contract for 25 MW of PEM Electrolyzers with Dourogás and CapWatt for 80,000 Ton Per Year Methanol Project

Global Renewable Energy Market Expected to Reach $2.44 Trillion By 2032 as Government Initiatives & Policies Are Driving Forces

Plug Power Launches an Equipment Lease Financing Platform - Plug is Targeting >$150 million from a Combination of Debt Leverage & Customer Financing Solutions

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Plug Power (PLUG) Forecast

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