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5h ago

Plug Power Jumps as Susquehanna Lifts Price Target and Cash Cushion Grows

The move follows a warrant exercise that brought in roughly $370 million, signaling near-term cash relief alongside future dilution risk.

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Overview

  • Susquehanna’s Biju Perincheril kept Plug Power at Neutral but raised the price target to $3.50 from $1.80.
  • Shares climbed about 14% to trade near $3.90 on Monday, rebounding from last week’s slide tied to financing concerns.
  • An institutional investor exercised $2.00 warrants for roughly $370 million in gross proceeds and received new $7.75 warrants that could raise up to about $1.4 billion if exercised.
  • Plug Power has begun a leadership transition with Jose Luis Crespo set to succeed Andy Marsh as CEO in March next year.
  • Forbes reports that several U.S. green hydrogen plants are slated to ramp next year and projects 2026 revenues could reach $1.5–$1.8 billion if production and margins improve.