Plug Power shares are trading lower by 5.5% during Wednesday's session. Major indexes are lower Wednesday following hotter-than-expected March inflation data.
JPMorgan expects clean tech companies to adopt a defensive stance in Q4 earnings. Enovix Corp stock stands out with potential for significant revenue growth.
Plug delivered several HL-450D-P hydrogen refueling stations which operate on a portable platform that can be quickly deployed to support fleet vehicle hydrogen refueling at either 350 bar or 700 bar. Plug describes the product as designed to reduce infrastructure costs and deployment time for medium-duty and heavy-duty hydrogen-powered commercial vehicles and customers for this solution include fleet vehicle operators, such as mass transit agencies that operate buses, trains, ferries and more, as well as logistics companies and retail distributors.
UBS analyst Manav Gupta downgraded Plug Power stock from Buy to Neutral and announced a $4.75 price target, and Seaport Global analyst Tom Curran downgraded Plug Power from Buy to Neutral on Tuesday. Redburn Atlantic analyst Skye Landon initiated coverage on Plug Power with a Neutral rating and announced a price target of $4.50 as well.