© Reuters. After Rallying More Than 35% in the Past 3 Months, is Plug Power Still a Buy?
Shares of inexperienced hydrogen producer Plug Power (NASDAQ:) have been hovering in value because of a number of constructive developments at the firm. But can the inventory proceed to rally at the same time as the provide chain disaster continues? Let’s discover out.Hydrogen answer supplier Plug Power Inc. (PLUG) just lately introduced a partnership with Lhyfe to collectively pursue and develop inexperienced hydrogen era crops all through Europe. The Latham, New York, firm additionally executed a definitive settlement to amass Applied Cryo Technologies, Inc., which ought to assist it develop the inexperienced hydrogen ecosystem. Over the previous month, the inventory has gained 65.4% in value to shut yesterday’s buying and selling session at $40.23.
However, the inventory has misplaced 40.5% over the previous 9 months and is at present buying and selling 46.7% beneath its 52-week excessive of $75.49, which it hit on January 26, 2021. PLUG’s losses widened in the second quarter. In addition, the firm’s enterprise may very well be affected by provide chain constraints. So, PLUG’s near-term prospects look bleak.
Here is what may affect PLUG’s efficiency in the coming months:
Fusion Media or anybody concerned with Fusion Media is not going to settle for any legal responsibility for loss or injury as a results of reliance on the data together with information, quotes, charts and purchase/promote alerts contained inside this web site. Please be totally knowledgeable relating to the dangers and prices related to buying and selling the monetary markets, it is certainly one of the riskiest funding varieties attainable.