But Wall Street's enthusiasm doesn't necessarily mean investors should start powering their portfolios with this fuel cell industry leader.
Shares are trading around 5.4 times sales, slightly higher than the stock's 5.2 average, but those who are optimistic about the company's future could certainly shrug off this seemingly high price tag.
For one, management's forecast for its fiscal 2017 performance must be taken with a healthy dose of skepticism since it doesn't have a great track record of meeting its guidance.
Further complicating things is how critical it is for the company to reduce the cost of its fuel cell solutions, making them more attractive to customers in light of the expired investment tax credit.
Predicated on a future where hydrogen has supplanted traditional fuels, picking up shares of Plug Power at this point remains too risky.
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