FY2024 EPS Estimates for Plug Power Increased by Analyst

Plug Power Inc. (NASDAQ:PLUG) – Equities researchers at Roth Capital raised their FY2024 EPS estimates for shares of Plug Power in a research note issued on Tuesday, November 12th. Roth Capital analyst C. Irwin now forecasts that the electronics maker will post earnings per share of ($1.27) for the year, up from their prior estimate of ($1.28). The consensus estimate for Plug Power’s current full-year earnings is ($1.16) per share. Roth Capital also issued estimates for Plug Power’s Q4 2024 earnings at ($0.24) EPS, Q4 2025 earnings at ($0.08) EPS and FY2025 earnings at ($0.60) EPS.

PLUG has been the topic of a number of other reports. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Plug Power in a research report on Wednesday. BTIG Research lowered Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday. Truist Financial dropped their price objective on Plug Power from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Jefferies Financial Group lowered their target price on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Finally, Evercore ISI dropped their price objective on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.52.

Plug Power Stock Performance

NASDAQ:PLUG opened at $1.97 on Friday. The firm’s 50-day moving average is $2.07 and its 200-day moving average is $2.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 2.08. Plug Power has a 52-week low of $1.60 and a 52-week high of $5.14.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The business had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. Plug Power’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.47) EPS.

Hedge Funds Weigh In On Plug Power

Institutional investors have recently modified their holdings of the stock. Pitcairn Co. grew its holdings in shares of Plug Power by 27.1% in the 1st quarter. Pitcairn Co. now owns 19,561 shares of the electronics maker’s stock valued at $67,000 after buying an additional 4,169 shares during the period. Nations Financial Group Inc. IA ADV grew its position in shares of Plug Power by 42.3% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker’s stock valued at $36,000 after purchasing an additional 4,700 shares during the period. Arkadios Wealth Advisors increased its stake in Plug Power by 18.2% during the 3rd quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker’s stock worth $75,000 after purchasing an additional 5,075 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Plug Power by 0.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock worth $1,817,000 after buying an additional 5,485 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its position in Plug Power by 79.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 5,631 shares in the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Company Profile

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.