Clear Street Downgrades Plug Power (PLUG) to a Hold From a Buy

Plug Power Inc. (NASDAQ:PLUG) is one of the best penny stocks to buy according to hedge funds. On October 7, Plug Power Inc. (NASDAQ:PLUG) was downgraded to a Hold from a Buy by Clear Street with a price target of $3.50.

The rating update came after Plug Power Inc. (NASDAQ:PLUG) announced the succession of new CEO Jose Luis Crespo, who would replace Andy Marsh in the role in March next year.

The analyst told investors that the current valuation shows insufficient remaining upside after the strong outperformance of the stock, up 170% in the past four weeks.

Plug Power Inc. (NASDAQ:PLUG) provides alternative energy technology focusing on the development, design, manufacturing, and commercialization of hydrogen and fuel cell systems that are primarily employed for the material handling and stationary power markets.

While we acknowledge the potential of PLUG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.