Plug Power share: New price target and potential – analysis by financial experts

Plug Power share: New price target and potential – analysis by financial experts

According to a report by www.finanztrends.de,

Plug Power shares continue to post increasing gains and the bulls have gained the upper hand in the short term, which is also reflected in the price performance. Over the last 5 trading days, the price rose by 14.03 percent. However, the stock's performance in the last 6 trading months is a decline of 52.86 percent.

A look at the chart shows that support was formed at $3.40 and the moving average for the past 55 days is $4.90. Should the stock break above this level, the next resistance could be between $5.90 and $6.20.

The analysts have set a new price target for Plug Power shares. According to Marketscreener, there are currently 13 ongoing “Buy” and 17 “Hold” recommendations on the market. The average price target is $8.53 per share. Compared to yesterday's closing price of $3.93, there is a further upside potential of 117.12 percent. The price target of $25 even implies a potential of 536.13 percent.

The positive trends and the new price target could lead to increased investment interest and increase demand for the stock. This could have a positive impact on the market and also open up new opportunities for the financial sector. It remains to be seen whether the fundamental tailwinds for Plug Power shares can achieve the targeted price targets.