Plug Power Inc. (NASDAQ:PLUG) shares rose on Wednesday as investors reacted to stronger-than-expected first-quarter results and a wave of analyst price target increases.
On Monday, the hydrogen fuel cell company reported a first-quarter loss of 8 cents per share, beating expectations for a 9-cent loss
Revenue came in at $163.51 million, ahead of the $141.17 million consensus estimate. Management also reaffirmed progress toward achieving “EBITDAS positive” results in the fourth quarter of 2026. The stock outperformed broader market trends despite weakness in Industrials and small-cap stocks, suggesting the move was driven primarily by company-specific momentum following earnings.
Analyst Forecast Several analysts raised their price targets after the results. Susquehanna increased its forecast to $3.75 from $2.75 and maintained a Neutral rating. Canaccord Genuity raised its forecast to $4 from $2.50 while reiterating Hold, and TD Cowen lifted its target to $3 from $2 with a Hold rating.