Should You Buy Plug Power Stock While It's Below $4?
Plug Power (NASDAQ: PLUG) has lost about 99% of its value since its initial public offering in 1999. The hydrogen fuel cell maker was once considered a promising green energy play, but it ran out of juice as its growth cooled off and it racked up steep losses. The dot-com crash and some accounting problems from 2018 to 2020 exacerbated its decline.
But with its stock trading at about $2, Plug Power's enterprise value of $2.6 billion values the company at just two times next year's estimated sales. Analysts also still have an average price target of $4 on the stock. So should you buy this unloved stock and expect it to more than double over the next few years?
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Source Fool.com
