Plug Power ends the week with some good news. The stock closed up 0.5%. There is also a new buy rating on the stock.
Plug Power: A simple buy?
JPMorgan Chase has given Plug Power a buy rating. However, the firm did not provide much information on the reasons for its rating. JPMorgan Chase has lowered its price target from $14 to $12. From the perspective of euro investors, this would still be well above €10. Such an increase does not appear to be on the horizon at the moment.
Shortly before, an insider even sold shares worth $230,000. However, even this event is not significant. Plug Power’s market capitalisation is many times larger and is struggling in the $5 billion segment.
Sollten Anleger sofort verkaufen? Oder lohnt sich doch der Einstieg bei Plug Power?
Nevertheless, the stock is still fighting the downward trend. Over the past few trading days, Plug Power has seen a significant drop of -15%. This marks the next stage in the downward escalation. The stock is struggling to hold the €6 mark, which is already a multi-year low. Chart analysts are talking about a massive downtrend and it seems that the support levels at €8 and then €7 are no longer defensible. The trend is towards €5.
Currently, only the analysts’ forecasts are better, as summarised by Marketscreener. Their average target price is 167% higher than the current price, which in itself is remarkable. However, the extreme estimates suggest a rise of over 1,000%. Economically, however, this does not seem to be in the cards. The next quarterly earnings report is not due until early November.
Autor
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Wie wird sich Plug Power jetzt weiter entwickeln? Ist ihr Geld in dieser Aktie sicher? Die Antworten auf diese Fragen und warum Sie jetzt handeln müssen, erfahren Sie in der aktuellen Analyse zur Plug Power Aktie
