Plug Power Inc. (NASDAQ: PLUG) is an innovative clean energy company that specializes in hydrogen energy and fuel cell systems. As more businesses turn to affordable zero-emission energy sources, the products and services from Plug Power are in high demand. With a bargain stock, this pick can fit right into any alternative energy portfolio.
Plug Power is a strong fiscal performer. It has generated revenue growth for three consecutive years. In 2019, sales were up by 31.84%, while gross income was up a staggering 966%. The business is becoming more efficient, and with acquisitions, it is increasing its economies of scale.
The leadership is currently executing a long-term business plan with a target of $1.2 billion in revenue, $210 million in operating income, and $250 million in adjusted EBITDA by 2024. Its recent acquisitions of United Hydrogen and Giner ELX will help the company to supply up to 100 tons of hydrogen per day within four years.
Short-term price growth is likely to be mild, with an average analyst target of $9.78. Long-term, the company is well-positioned to be a leader in the alternative energy market. It has the technology, infrastructure, and production capacity needed to outperform the competition. Any investor wanting a stake in a clean energy future should consider Plug Power this month.
- 1 Year Price Growth: 51%
- YTD Price Growth: 34%
- 3 Month Price Growth: 70%
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.