|
|
|
|
|||||
|
|
|
New: Introducing “Why Is It Moving?” - lightning-fast, AI-driven explanations of stock moves
Analysts at H.C. Wainwright doubled their price target on Plug Power stock last week.
Plug shares gained 60% by the end of the week.
Plug stock is up again today, but still unprofitable.
Plug Power (NASDAQ: PLUG) stock soared to close at $3.81 per share Friday, a 60% gain for the week. The hydrogen fuel stock actually only had one "down" day all week long, and its ascent looks set to continue today, with the stock up 4.5% through 10:35 a.m. ET.
The question is why.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks »
Image source: Getty Images.
The most obvious answer is that last week, analysts at H.C. Wainwright more than doubled their price target on Plug stock, from $3 to $7 a share. With Plug shares costing less than $3 at the time, you can see why that might get investors excited.
It didn't hurt, either, that Wainwright posited the potential for Plug stock to create a short squeeze last week. In the age of meme stocks, that's catnip for momentum traders. It's more than enough to explain Plug's 60% rise last week.
And yet, as I pointed out last week, Wainwright's recommendation -- which was based on a broad theme of growing demand for electric power -- actually seemed to favor investments in nuclear power stocks over investments in Plug. That's reason No. 1 to wonder whether Plug's momentum can continue.
Reason No. 2 is Plug Power stock itself. Before you join the momentum crowd, make sure you know what you're investing in.
Plug Power stock has lost $2 billion over the last 12 months. It has never been profitable across its 28-year history. It may never become profitable, either. Analysts who follow the company do project profits in 2030, maybe, but they've made similar projections in the past, and Plug has always proved them wrong.
While this time could be different, I personally don't believe it will be. Plug stock remains a sell for me.
Before you buy stock in Plug Power, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Plug Power wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $621,976!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,150,085!*
Now, it’s worth noting Stock Advisor’s total average return is 1,058% — a market-crushing outperformance compared to 191% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of September 29, 2025
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
| 1 hour | |
| 2 hours | |
| 3 hours | |
| 5 hours | |
| Oct-05 | |
| Oct-04 | |
| Oct-04 | |
| Oct-03 | |
| Oct-03 | |
| Oct-03 | |
| Oct-03 | |
| Oct-03 | |
| Oct-03 | |
| Oct-03 | |
| Oct-03 |
Join thousands of traders who make more informed decisions with our premium features. Real-time quotes, advanced visualizations, backtesting, and much more.
Learn more about FINVIZ*Elite