#7 - Plug Power (NASDAQ:PLUG)
If you’re more of a speculative investor, you can consider Plug Power (NASDAQ:PLUG). The company is involved in the manufacturing and development of hydrogen fuel cells that are designed primarily for the material handling and stationary power markets.
PLUG stock has seen two spikes in the last 12 months. The first occurred in the first month of the year. This was due to excitement regarding the incoming Biden administration’s focus on clean energy and also likely a bit of FOMO from the meme stock movement. It also surged later in the year on hopes of passage for the Biden administration’s infrastructure bill.
In both cases, the stock has failed to hold those gains. And with the stock trading near its 52-week low there are two schools of thought. One is to look at the analysts which suggest PLUG stock has an upside of over 60%. The other is the reality that hydrogen is still a nascent technology in the clean energy game.
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
- $1.92
- Consensus Rating
- Hold
- Ratings Breakdown
- 8 Buy Ratings, 11 Hold Ratings, 4 Sell Ratings.
- Consensus Price Target
- $4.52 (135.5% Upside)
Strong demand will remain a catalyst for the manufacturing sector. However, ongoing supply chain disruption along with the surge of Covid-19 cases due to the omicron variant will continue to weigh on the sector as some manufacturers may find it hard to keep manufacturing operating at full tilt.
That’s why it’s important to be selective about the manufacturing stocks to add to your portfolio. If investors are looking for a different way to invest in the sector, they can select one of the many mutual funds or exchange-traded funds (ETFs) that focus on the sector.
A great example is the iShares U.S. Infrastructure ETF (BATS:IFRA) which is up 29.8% in the last 12 months. If investors are looking for an ETF that pays a dividend, a solid choice is the JPMorgan Equity Premium Income ETF (NYSEARA:JEPI) that has a dividend yield that is currently over 6.5%.
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