Roth/MKM Asserts Plug Power Inc. (PLUG) 'Buy' Rating on Booming Business

Plug Power Inc. (NASDAQ:PLUG) is one of the best Robinhood penny stocks to invest in. It stands out owing to its edge in the clean energy space through the provision of hydrogen fuel cell systems. Similarly, on August 21, analysts at Roth/MKM reiterated their ‘Buy’ rating on the stock with a $3.50 price target.

The research firm remains optimistic about the stock’s prospects, impressed by positive production activity at the company’s Vista facility. The discovery of larger materials handling orders in fulfillment, substantial electrolyzer activity, and the GenSure project underscores booming business.

While the stock has underperformed year to date, down approximately 36%, Roth/MKM insists that investors are underappreciating the significance of Plug Power’s large electrolyzer projects. The research firm expects one project to occupy production capacity for several years, thereby accelerating EBITDA growth.

Plug Power Inc. (NASDAQ:PLUG) designs, manufactures, and sells green hydrogen fuel cell systems and infrastructure to produce and deliver green hydrogen, which is used as a clean energy source. It builds an entire end-to-end green hydrogen ecosystem, including electrolyzers for hydrogen production, equipment for liquefying and storing hydrogen, as well as transportation and dispensing systems.

While we acknowledge the potential of PLUG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 12 Best Cybersecurity Stocks to Buy Right Now and 10 Best American Mining Stocks to Buy Now.

Disclosure: None. This article is originally published at Insider Monkey.