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Plug Power Analyst Turns Bearish: ‘Even With $1.6 Billion In Funding We Are Skeptical’

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Shares of Plug Power Inc (NASDAQ: PLUG) tanked in the premarket session on Wednesday, despite news of the company launching the largest U.S. green hydrogen plant.

The company has an “increasingly arduous path” ahead in securing the DOE loan for setting up additional hydrogen plants, according to BMO Capital Markets.

The Plug Power Analyst: Ameet Thakkar downgraded the rating for Plug Power from Market Perform to Underperform, while reducing the price target from $3.50 to $2.50.

The Plug Power Thesis: The company’s annual update call sparked a 31% rally in the stock, …

Full story available on Benzinga.com

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