What Happened?
Shares of fuel cell technology Plug Power (NASDAQ:PLUG) jumped 13.7% in the afternoon session after an analyst at Susquehanna significantly raised the price target on the stock. The analyst kept a Neutral rating but increased the price target by over 94% from $1.80 to $3.50, signaling a more optimistic view. This move came as investor confidence grew around the company's progress. Recent positive developments included the launch of several new green hydrogen plants and securing a $1.66 billion loan guarantee from the U.S. Department of Energy. Furthermore, the extension of tax credits for the hydrogen industry bolstered sentiment. These factors contributed to a broader rally in the shares, with the stock gaining significantly in the weeks leading up to this move.
Is now the time to buy Plug Power? Access our full analysis report here.
What Is The Market Telling Us
Plug Power’s shares are extremely volatile and have had 100 moves greater than 5% over the last year. But moves this big are rare even for Plug Power and indicate this news significantly impacted the market’s perception of the business.
The previous big move we wrote about was 3 days ago when the stock dropped 5.5% on the news that the U.S. threatened to impose "massive increases" to tariffs on China in response to new export controls from Beijing.
The potential countermeasures follow China's decision to place new restrictions on the export of strategic minerals and related products, including rare earths, which are critical for the defense, semiconductor, and manufacturing industries. This escalation in the economic competition between the two largest global economies is fueling investor anxiety. The new tariff threats raise concerns about disruptions to global supply chains, increased material costs for manufacturers, and a potential drag on an already sluggish economy. Industrial companies are particularly sensitive to these developments as they are often cyclical and heavily reliant on international trade.
Plug Power is up 66.9% since the beginning of the year, and at $3.88 per share, it is trading close to its 52-week high of $4.13 from October 2025. Investors who bought $1,000 worth of Plug Power’s shares 5 years ago would now be looking at an investment worth $227.42.
Do you want to know what moves the business you care about? Add them to your StockStory watchlist and every time a stock significantly moves, we provide you with a timely explanation straight to your inbox. It’s free for active Edge members and will only take you a second.