Plug Power Inc. (NASDAQ: PLUG) is a hydrogen fuel cell company that develops innovative clean energy solutions for stationary and material handling systems. With an incoming President who is committed to clean energy, this stock could see strong growth in the coming years.
Despite breaking past the traditional ‘bargain’ price range, Plug Power is still a worthwhile pick for alternative investors. In 52 weeks the stock has ranged from $2.53, right up to its $25.00 closing price at the end of yesterday’s session. This impressive range shows just how far the stock has come, and there’s still more potential for growth.
The company is a strong revenue performer, having increased sales by 31.84% in 2019. Gross income increased by more than 900% in the same year, leading to a margin of 12.15%. Revenue is forecast to grow by at least 30% in the next year, which could help to drive interest in the stock and send the price even higher.
Strong revenue momentum and favorable conditions for clean energy in China, Europe, and the United States make this one of the best clean energy stocks of 2020. Look past the price and there’s a compelling bargain to be found as hydrogen fuel demand grows.
- 1 Year Price Growth: 46%
- YTD Price Growth: 14%
- 3 Month Price Growth: 77%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.