Shares of Plug Power Inc (NASDAQ:PLUG) are rallying Monday afternoon following reports that the U.S. Senate has extended a crucial clean energy tax credit. Here’s what investors need to know.
What To Know: According to a Barron’s report, a revised Senate budget bill pushed the construction start deadline for the 45V clean hydrogen production tax credit to December 31, 2027, granting a surprise two-year extension.
This development offers a potential lifeline for the industry, providing up to $3 per kilogram for clean hydrogen production. The extension would likely revive numerous projects that were at risk of cancellation under the previous January 1, 2026, deadline.
The news marks a dramatic reversal of fortune for Plug Power, whose stock had tumbled earlier this month amid fears of expiring clean energy incentives. A previous draft bill from the Senate Finance Committee had proposed an accelerated phase-out of similar credits established under the Inflation Reduction Act.
The stock had begun to recover last week following executive participation in investor conferences, but Monday’s news provides a more substantial catalyst, signaling renewed stability and investment potential for the domestic hydrogen sector.
Price Action: According to data from Benzinga Pro, PLUG shares are trading higher by 28.4% to $1.49 Monday afternoon. The stock has a 52-week high of $3.34 and a 52-week low of 69 cents.
Analyst Ratings: Prior to today’s major news, and based on recent analyst updates from May 2025, several financial firms have adjusted their outlook on Plug Power, signaling increased caution.
While maintaining their formal ratings, analysts significantly lowered their price targets. Jefferies, for instance, maintained a Hold rating but cut its price target from $1.70 to 90 cents.
Similarly, Morgan Stanley and Piper Sandler, both holding Underweight ratings, reduced their price targets to 50 cents and 80 cents, respectively.
Wells Fargo also revised its target down to $1, reflecting a broader sentiment among analysts of heightened risk and lowered expectations for the stock’s near-term performance.
Read Also: Plug Power Stock Continues To Surge: What’s Going On?
How To Buy PLUG Stock
By now you're likely curious about how to participate in the market for Plug Power – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
In the case of Plug Power, which is trading at $1.44 as of publishing time, $100 would buy you 69.44 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
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