What Is the Price Target for Plug Power Stock?
Plug Power (NASDAQ: PLUG) is a volatile stock, no doubt. In 2021, shares of this small energy company maxed out at $73 per share. Today, they trade hands at just $2.40. What has soured investors so much on this small-cap stock and where do Wall Street analysts think it could now be headed?
Plug Power is focused on developing hydrogen systems. The market potential could be huge: $1.4 trillion, by one estimate. But the company also faces challenges. hydrogen fuel isn't yet cost efficient, and competitors are also cropping up.
The uncertainty has left analysts with a range of opinions. According to data from FactSet, 30 analysts cover the stock. Nine rate it a buy or overweight, 17 rate it a hold, and four rate it a sell. If you average those together, the consensus rating for Plug Power stock is a "hold." That's a big change from three months ago, when the consensus was a "buy."
Source Fool.com
