Plug Power Inc. (NASDAQ:PLUG) is ranked among the best short squeeze stocks to buy now. TD Cowen maintained its Buy rating for PLUG but lowered the price target to $4 from $4.50 after a recent symposium highlighted client endorsements of the company’s value proposition.

TD Cowen noted that Plug Power remains focused on execution to grow its material-handling and electrolyzer businesses while aiming for profitability. The stock price suffered due to a convertible offering announcement meant to refinance 15% of the company’s debt.

Plug Power announced a $375 million convertible senior notes issuance at a 6.75% rate, estimating net proceeds of about $347.2 million. The company specializes in alternative energy technology, focusing on hydrogen and fuel cell systems for material handling and stationary power markets.

While PLUG shows investment potential, certain AI stocks may offer greater upside with less downside risk. Consider exploring undervalued AI stocks benefiting from Trump-era tariffs and the onshoring trend for potential growth opportunities.

Read more at Yahoo Finance: Plug Power (PLUG) Eyes Expansion in Energy Markets, TD Cowen Maintains Buy