Seaport Res Ptn Predicts Plug Power FY2024 Earnings

Plug Power Inc. (NASDAQ:PLUG) – Equities researchers at Seaport Res Ptn issued their FY2024 EPS estimates for Plug Power in a report released on Monday, January 27th. Seaport Res Ptn analyst T. Curran anticipates that the electronics maker will post earnings of ($1.24) per share for the year. Seaport Res Ptn currently has a “Strong Sell” rating on the stock. The consensus estimate for Plug Power’s current full-year earnings is ($1.20) per share. Seaport Res Ptn also issued estimates for Plug Power’s Q4 2024 earnings at ($0.23) EPS, Q1 2025 earnings at ($0.20) EPS, Q2 2025 earnings at ($0.19) EPS, Q3 2025 earnings at ($0.20) EPS, Q4 2025 earnings at ($0.16) EPS, FY2025 earnings at ($0.75) EPS and FY2026 earnings at ($0.47) EPS.

A number of other equities analysts have also issued reports on PLUG. Piper Sandler reduced their target price on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a research report on Thursday, November 14th. Wells Fargo & Company reduced their price objective on Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Plug Power in a research note on Wednesday, November 13th. Evercore ISI cut their price target on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Finally, Craig Hallum decreased their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $4.46.

Plug Power Stock Down 4.1 %

Shares of NASDAQ PLUG opened at $1.88 on Wednesday. Plug Power has a 12-month low of $1.60 and a 12-month high of $5.14. The firm’s 50-day simple moving average is $2.36 and its 200 day simple moving average is $2.22. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -0.88 and a beta of 1.79.

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

Institutional Investors Weigh In On Plug Power

Several large investors have recently modified their holdings of PLUG. Avidian Wealth Enterprises LLC acquired a new position in shares of Plug Power in the 4th quarter valued at approximately $35,000. Sovran Advisors LLC bought a new position in Plug Power in the fourth quarter valued at approximately $127,000. Savant Capital LLC acquired a new position in shares of Plug Power in the fourth quarter valued at approximately $31,000. Empowered Funds LLC bought a new stake in shares of Plug Power during the fourth quarter worth $214,000. Finally, Pacific Sage Partners LLC acquired a new stake in shares of Plug Power during the fourth quarter worth $25,000. 43.48% of the stock is currently owned by institutional investors.

About Plug Power

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.