FY2024 EPS Estimates for Plug Power Raised by Roth Capital

Plug Power Inc. (NASDAQ:PLUG) – Equities researchers at Roth Capital upped their FY2024 earnings estimates for shares of Plug Power in a research report issued to clients and investors 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 forecast 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.

A number of other analysts also recently weighed in on PLUG. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Plug Power in a research report on Wednesday. BTIG Research cut shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday. Canaccord Genuity Group dropped their target price on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a report on Wednesday. Evercore ISI decreased their price target on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Susquehanna lowered their price objective on Plug Power from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.52.

Plug Power Trading Down 5.1 %

Shares of PLUG stock opened at $1.87 on Friday. Plug Power has a 1-year low of $1.60 and a 1-year high of $5.14. The company has a current ratio of 2.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -0.87 and a beta of 1.81. The stock has a 50-day moving average of $2.08 and a 200-day moving average of $2.40.

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 analysts’ consensus estimates of ($0.24) by ($0.01). The company had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.47) earnings per share.

Hedge Funds Weigh In On Plug Power

A number of hedge funds have recently added to or reduced their stakes in PLUG. Duff & Phelps Investment Management Co. lifted its holdings in shares of Plug Power by 31.7% in the third quarter. Duff & Phelps Investment Management Co. now owns 75,160 shares of the electronics maker’s stock valued at $170,000 after purchasing an additional 18,110 shares in the last quarter. Main Management ETF Advisors LLC bought a new position in Plug Power during the 3rd quarter valued at $823,000. XTX Topco Ltd purchased a new position in Plug Power during the 3rd quarter worth $2,174,000. Stifel Financial Corp grew its stake in shares of Plug Power by 23.4% in the 3rd quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker’s stock worth $3,160,000 after acquiring an additional 265,514 shares in the last quarter. Finally, Millburn Ridgefield Corp raised its holdings in shares of Plug Power by 79.9% in the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares during the last quarter. Institutional investors and hedge funds own 43.48% of the company’s stock.

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.