Plug Power stock surged 10% on potential $1.7 billion loan approval, but still rated 'sell' by Morgan Stanley.

From Nasdaq.: 2025-01-14 10:46:21

Plug Power (NASDAQ: PLUG) stock surged over 10% before settling for a 2% gain, hitting $3 per share. Morgan Stanley predicts Plug Power will receive a $1.7 billion loan approval from the Department of Energy soon, potentially boosting the stock. However, despite the positive news, Morgan Stanley still rates Plug stock as “sell” with a target price of $1.75 per share. The company’s cash burn rate and debt accumulation remain concerns, leading to the recommendation to sell Plug Power stock. The Motley Fool Stock Advisor team also did not include Plug Power in their list of top 10 stocks to buy now.



Read more at Nasdaq.: Why Plug Power Stock Popped 10% Tuesday Morning