Bargain priced alternative energy stocks typically come with some risk. Developing cutting edge technology is costly, and there’s always a question of whether innovative products will be well received and adopted by large clients. Plug Power Inc. (NASDAQ: PLUG) has already shown promise in the alternative energy market with large contracts and clients like Amazon.com.
Plug Power manufactures fuel cells and hydrogen power technologies for use in the commercial sector. It is considered to be a market leader, thanks to an established position in viable hydrogen technologies. With its focus on electrification, Plug Power is primed to take advantage of a future where fossil fuels are no longer major components of the energy industry.
Financials for this company are solid, with sustained growth in the last two years. In the 2018 fiscal year, the company almost doubled its revenue year over year, generating growth of 74.37%. Analysts believe the stock is currently overperforming thanks to high investor confidence in the company’s underlying fuel cell technologies. The consistent growth of this stock is an indicator of what could come.
- 1 Year Price Growth: 38%
- YTD Price Growth: 00%
- 3 Month Price Growth: 07%
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.