What is B. Riley’s Forecast for Plug Power Q3 Earnings?

Plug Power Inc. (NASDAQ:PLUG) – Equities researchers at B. Riley issued their Q3 2024 EPS estimates for shares of Plug Power in a note issued to investors on Monday, November 4th. B. Riley analyst R. Pfingst expects that the electronics maker will post earnings per share of ($0.22) for the quarter. The consensus estimate for Plug Power’s current full-year earnings is ($1.16) per share. B. Riley also issued estimates for Plug Power’s Q4 2024 earnings at ($0.18) EPS, FY2024 earnings at ($1.14) EPS, FY2025 earnings at ($0.52) EPS and FY2026 earnings at ($0.37) EPS.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.06). The business had revenue of $143.40 million during the quarter, compared to analyst estimates of $184.54 million. Plug Power had a negative net margin of 216.80% and a negative return on equity of 47.51%. The business’s revenue for the quarter was down 44.9% compared to the same quarter last year. During the same period last year, the company earned ($0.35) earnings per share.

Other equities analysts also recently issued reports about the company. Craig Hallum cut their price objective on Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Susquehanna reduced 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. Royal Bank of Canada cut their target price on Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a research note on Monday, August 12th. Truist Financial dropped their price objective on Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Finally, Canaccord Genuity Group reduced their target price on Plug Power from $3.00 to $2.50 and set a “hold” rating for the company in a report on Monday, August 12th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.01.

Plug Power Stock Performance

NASDAQ PLUG opened at $2.04 on Thursday. The business’s 50-day moving average price is $2.05 and its 200 day moving average price is $2.42. Plug Power has a twelve month low of $1.60 and a twelve month high of $6.33. The company has a market capitalization of $1.79 billion, a PE ratio of -0.86 and a beta of 1.81. The company has a current ratio of 2.07, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16.

Institutional Trading of Plug Power

Several hedge funds have recently added to or reduced their stakes in PLUG. SteelPeak Wealth LLC bought a new stake in Plug Power during the 2nd quarter valued at approximately $26,000. Nations Financial Group Inc. IA ADV bought a new stake in shares of Plug Power in the 2nd quarter worth approximately $26,000. Aire Advisors LLC bought a new stake in shares of Plug Power in the 2nd quarter worth approximately $28,000. Madison Park Capital Advisors LLC acquired a new position in shares of Plug Power in the 2nd quarter worth approximately $29,000. Finally, Profund Advisors LLC acquired a new position in shares of Plug Power in the 2nd quarter worth approximately $29,000. Institutional investors 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.