Plug Power stock ticks up before open as Jan. 29 share vote looms

Plug Power Inc shares climbed 4.1% to $2.28 by late morning on Monday, trading in a range from $2.14 up to $2.30. Roughly 28.4 million shares changed hands.

Shares of Plug Power Inc fell 5.6% to close at $2.19 on Friday following a downgrade and price target cut from TD Cowen.

Shares of Plug Power Inc dipped 5.6% on Friday, closing at $2.19, pressured by a TD Cowen downgrade that nudged the hydrogen fuel-cell company back toward the $2 mark. The stock fluctuated between $2.14 and $2.33 during the session, after ending Thursday at $2.32. Volume hit around 114 million shares, surpassing the company’s recent averages. Meanwhile, the Nasdaq Composite climbed 0.81%, and rival Ballard Power Systems gained 1.1%.

Plug Power shares hovered around $2.32 in premarket trading on Friday after TD Securities downgraded the hydrogen equipment maker to hold from buy and cut its price target to $2 from $4. The broker pointed to slower demand and execution risks in electrolyzers — machines that split water to make hydrogen — and in the material-handling business tied to fuel-cell forklifts and service. TD said Plug still lacks a clear path to positive free cash flow, the cash left after capital spending, and flagged management targets of about $215 million in quarterly revenue for gross margin break-even and $300 million for EBITDA positive.

Plug Power shares rose about 1% to $2.30 in early trade on Thursday, steadying after a choppy week for the hydrogen fuel-cell maker. Investing.com

Plug Power Inc shares rose about 1.3% to $2.40 in early New York trade on Tuesday, after moving between $2.35 and $2.50.

Plug Power Inc shares rose 13.2% to close at $2.23 on Friday, extending a second straight session of gains as trading volume exceeded its 50-day average. U.S. markets were closed on Sunday. MarketWatch

Plug Power Inc. shares jumped about 13% in the last U.S. regular session, closing at $2.23 after swinging between $2.00 and $2.27. More than 120 million shares changed hands.