Stock Rating Upgrade
The Value Trend Rating for Plug Power Inc (NASDAQ: PLUG) improved of late from D to C reflecting improving fundamentals and high Appreciation Potential. Details supporting this higher rating are included in our next report.
Recent Price Action
Plug Power Inc (NASDAQ: PLUG) stock declined by -2.4% on 3/18/24. The shares closed at $3.25. However, unusually low trading volume at 53% of normal accompanied the decline. The stock has been extremely weak relative to the market over the last nine months and has declined -19.2% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be in line with the cost of capital, PLUG is expected to continue to be Value Creation neutral.
Plug Power has a current Value Trend Rating of C (Low Neutral). This VT Rating improved in recent days from D previously. With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Plug Power has a very high Appreciation Score of 92 but a very low Power Rating of 0, producing the Low Neutral Value Trend Rating.
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