Plug Power Inc Forecast 2022
What is Plug Power?
Plug Power is an American manufacturer of fuel cells.
Plug Power was founded in 1997 as a joint venture between the energy supplier DTE Energy and the measurement technology manufacturer Mechanical Technology Inc. The company has been listed on the stock exchange since 1999.
The company develops and manufactures fuel cells for electromobility applications, the operation of industrial trucks and stationary use in emergency power systems. Furthermore, Plug Power supplies its customers with hydrogen, constructs systems for hydrogen storage and hydrogen dispensers.
Plug Power Stock
When analyst Amit Dayal of H.C. If Wainwright is right, Plug Power shares could soar more than 170% to $78 over the next 12 months.
Plug Power is at the center of a renewable energy revolution. Almost all industrialized countries around the world are fighting climate change and are planning to rely on various forms of renewable energy. These include hydrogen fuel cells for vehicles and hydrogen filling stations. In other words, the company has multiple avenues to generate revenue.
Last year, Plug Power was best known for two partnerships that the company entered into at the beginning of the year. SK Group took a 10% stake in the company to offer fuel cell solutions for vehicles and gas stations across South Korea. In a joint venture with French carmaker Renault, known as Hyvia, Plug and Renault will target the European light commercial vehicle market.
While the company’s sales and backlog have been growing rapidly, the company’s market cap has also increased. Valuing at over $16 billion and still a couple of years away from yield, I can’t imagine Plug Power reaching the $78 mark without smashing Wall Street’s 2022 earnings expectations to throw.
SK Inc. has over 9% shares. BlackRock and The Vanguard Group are also on board. That’s why you can rest easy. Because they are among the largest asset managers in the world and Fidelity Management – also invested – has already proven to make good decisions. So it could be worth buying the Plug Power share now.
Trade Team Forecast
Currently it looks like the knot has burst. Price jumped over 16% yesterday. We can currently only recommend this stock. More than 20% price gain is possible in 2022.