Schaeffer's Top Stock Picks for '25

Plug Power Stock Powered Up By Revenue Beat

Two analysts cut their PLUG price targets after the report

Deputy Editor
Aug 6, 2021 at 9:36 AM
facebook X logo linkedin


Plug Power Inc (NASDAQ:PLUG) is in the spotlight today, after the alternative energy name reported a second-quarter earnings miss, but better-than-expected revenue. To follow, J.P. Morgan Securities and RBC lowered their price targets to $48 and $35, respectively.

Despite the mixed report and bear notes, PLUG is up 8.9% to trade at $28.32 at last check. In the last month, the $25 level has provided a consistent floor for Plug Power stock's pullbacks. Today's pop has the stock breaking out of the summer-long congestion and clearing its 20-day moving average for the first time in a month.

Given the stock's 23% year-to-date deficit, there is still plenty of pessimism that could unwind and keep the wind at the stock's back. Of the 21 brokerages in coverage, eight carry a "hold" or "strong sell" rating on the stock. Meanwhile, although short interest fell by 12% in the two most recent reporting periods, the 43.49 million shares sold short still makes up 8.5% of PLUG's available float. 

What's more, the security's Schaeffer's Volatility Scorecard (SVS) sits at a high 99 out of 100. This means PLUG has exceeded option traders' volatility expectations during the past year.

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?

 

 

(function(doc, script) { var js, fjs = doc.getElementsByTagName(script)[0], frag = doc.createDocumentFragment(), add = function(url, id) { if (doc.getElementById(id)) {return;} js = doc.createElement(script); js.src = url; id && (js.id = id); frag.appendChild( js ); }; // Google+ button //add('https://apis.google.com/js/platform.js', async="defer"); // Facebook SDK add('//connect.facebook.net/en_US/all.js#xfbml=1&appId=772755279557744', 'facebook-jssdk'); // Twitter SDK //add('//platform.twitter.com/widgets.js', charset='utf-8'); fjs.parentNode.insertBefore(frag, fjs); }(document, 'script'));