5 Most Promising EV Stocks According to Analysts

3. Plug Power, Inc. (NASDAQ:PLUG)

Number of Hedge Fund Holders: 32

Average Upside Potential as of February 14: 91.46%

Plug Power Inc. (NASDAQ:PLUG) is a leading provider of green hydrogen and fuel cell solutions for the EV markets across the globe. At the end of Q3 2022, 32 hedge funds were long Plug Power Inc. (NASDAQ:PLUG) and disclosed positions worth $373.4 million in the company.

Plug Power, Inc. (NASDAQ:PLUG) has a consensus Strong Buy rating among Wall Street analysts and has received 10 Buy ratings from analysts over the past 3 months. The stock’s average price target of $30.27 represents an upside potential of 91.46% from current levels. Plug Power, Inc. (NASDAQ:PLUG) is one of analysts’ top EV stock picks with the most promising upside potential.

On January 26, Susquehanna analyst Biju Perincheril updated his price target on Plug Power, Inc. (NASDAQ:PLUG) to $25 from $28 and maintained a Positive rating on the shares.

As of December 31, D E Shaw is the largest shareholder in Plug Power, Inc. (NASDAQ:PLUG) and has a position worth $20.35 million in the company.

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