#3 - Plug Power (NASDAQ:PLUG)
If you’re willing to engage in more speculation, it may be time to consider adding hydrogen stocks to your portfolio. Hydrogen technology has tried to gain traction with investors for 20 years. But the cost and complexity have hurt its viability. But that appears to be changing. And right now, Plug Power (NASDAQ:PLUG) is considered by many to be one of the best choices.
Plug Power manufactures fuel cells that are used in the forklifts of company’s like Amazon (NASDAQ:AMZN) and Walmart (NYSE:WMT). What is beginning to excite investors is that it recently acquired a liquid hydrogen provider that makes electrolyzers. This will give Plug Power the ability to realize the profit margin on the hydrogen that these companies use.
Analysts are taking notice of PLUG stock. Of the eight analysts that cover the stock, seven give the stock a buy rating. And the research firm S&P Global Market Intelligence believes that Plug Power will post a profit in 2023.
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
- $2.30
- Consensus Rating
- Hold
- Ratings Breakdown
- 7 Buy Ratings, 15 Hold Ratings, 4 Sell Ratings.
- Consensus Price Target
- $6.05 (163.3% Upside)
