#4 - Plug Power (NASDAQ:PLUG)
Plug Power (NASDAQ: PLUG) has something many in this sector don’t. Actual revenue. Through contracts with Amazon (NASDAQ: AMZN) and Walmart (NYSE: WMT), Plug Power has companies that are using its fuel cell technology to power their forklifts. This is important because as the American economy comes out of this pandemic, oil will be at a discount.
That gives the company a compelling use case. However, Plug Power is still not profitable even after 23 years of being a publicly-traded company. This irritates investors who are seeing its revenue climb from $14 million to over $250 million in just one year. The company continues to burn through cash which reflects the problem with using hydrogen as a fuel source.
However, S&P Global Market Intelligence is projecting that Plug Power will be profitable in 2023. Plug Power has also received an encouraging outlook from Barclays Capital. The British firm initiated coverage on PLUG stock with a $7 price target.
About Plug Power
Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.
Read More - Current Price
- $2.56
- Consensus Rating
- Hold
- Ratings Breakdown
- 8 Buy Ratings, 11 Hold Ratings, 4 Sell Ratings.
- Consensus Price Target
- $4.52 (76.6% Upside)
