Plug Power Stock Stabilizes After Warsh Fed Nomination Sell-Off

Benzinga_recent_news05:06

Plug Power Inc (NASDAQ:PLUG) shares closed slightly down on Monday as the company navigates recent market dynamics. The stock is stabilizing after recent weakness tied to worries that higher interest ...

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Shares have increased by 13.58% over the past 12 months and are currently positioned closer to their 52-week lows than highs.\nThe RSI is at 43.44, which is considered neutral territory, while the MACD is below its signal line, indicating bearish pressure on the stock. The combination of neutral RSI and bearish MACD suggests mixed momentum.\nPlug 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, delivering its solutions directly to customers and through joint venture partners in various markets, including material handling and power generation.\nThis focus on renewable energy solutions positions Plug Power as a key player in the transition to cleaner energy, especially as global demand for hydrogen solutions continues to grow. The company’s recent projects, such as the one in Europe, highlight its commitment to expanding its capabilities and market reach.\nInvestors are looking ahead to the next earnings report on March 2.\nAnalyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $2.38. Recent analyst moves include:\nSignificance: Because Plug Power carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.\nPLUG Price Action: Plug Power shares closed Monday down 1.61% at $2.08, according to Benzinga Pro data.\nImage: Shutterstock\nThis content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2608890275","isCrawlerRequest":true}