#3 - Plug Power (NASDAQ:PLUG)
Another clean energy sector to keep an eye on is hydrogen. This leads to the next stock on this list, Plug Power Inc. (NASDAQ: PLUG). Investors may be familiar with the company’s hydrogen fuel cells that are used by companies such as Walmart Inc. (NYSE: WMT) and Amazon.com, Inc. (NASDAQ: AMZN). The company is also “the leading provider of comprehensive hydrogen fuel cell (HFC) turnkey solutions.” This allows
Plug Power provided investors with a business update on January 25, 2023. Analysts must have liked what they heard because five of them reiterated their buy ratings on PLUG stock. The company continues to generate revenue which has been increasing by double digits for the last several quarters.
That being said, Plug Power is not yet profitable, and the company’s earnings per share (EPS) are getting worse on a year-over-year (YOY) basis. But the long-term outlook for hydrogen remains bullish which is reflected in the PLUG stock price, which is up over 730% in the last five years.
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.
More about Plug Power- Current Price
- $1.12
- Consensus Rating
- Hold
- Ratings Breakdown
- 5 Buy Ratings, 8 Hold Ratings, 4 Sell Ratings.
- Consensus Price Target
- $2.33 (107.7% Upside)
