Wall Street Sees More Than 27% Upside for Plug Power Inc. (PLUG)

Plug Power Inc. (NASDAQ:PLUG) is one of the Best High Volume Penny Stocks to Buy. On December 18, Eric Stine from Craig Hallum reiterated a Buy rating on the stock without disclosing any price targets. Overall, Wall Street’s consensus 12 month average price target suggests around 27% upside from the current level.

Plug Power Inc. (NASDAQ:PLUG) on December 17, announced the installation of a 5MW GenEco electrolyzer at Cleanergy Solutions Namibia’s Hydrogen Dune site in Walvis Bay. Management noted that this marks the first fully integrated commercial green hydrogen facility. The project was first opened in September 2025 and features a 5MW solar park over 6.5 hectares and a 5.9 MWh battery storage system powering the electrolyzer to produce renewable hydrogen without grid reliance.

Management noted that the vertically integrated setup creates a linkage between hydrogen and clean electricity. It also positions Namibia as a regional hub for exports and replication across Africa. Management of Plug Power Inc. (NASDAQ:PLUG) also highlighted that this aligns with the company’s strategy and accelerates global investment in hydrogen. The company believes that markets including Africa, the Middle East, and Australia are emerging hubs for next-generation hydrogen and renewable resources.

Plug Power Inc. (NASDAQ:PLUG) develops hydrogen fuel cell product solutions in North America, Europe, Asia, and internationally.

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