Plug Power Inc. (NASDAQ:PLUG – Free Report) – Research analysts at HC Wainwright cut their FY2024 earnings per share estimates for Plug Power in a research note issued on Wednesday, November 13th. HC Wainwright analyst A. Dayal now anticipates that the electronics maker will earn ($1.36) per share for the year, down from their prior estimate of ($1.18). HC Wainwright currently has a “Buy” rating and a $18.00 target price on the stock. The consensus estimate for Plug Power’s current full-year earnings is ($1.16) per share. HC Wainwright also issued estimates for Plug Power’s Q4 2024 earnings at ($0.29) EPS, FY2025 earnings at ($0.49) EPS, FY2026 earnings at ($0.39) EPS, FY2027 earnings at ($0.21) EPS and FY2028 earnings at $0.11 EPS.
Plug Power (NASDAQ:PLUG – Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The firm had revenue of $173.70 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the company posted ($0.47) earnings per share.
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Plug Power Price Performance
Shares of PLUG opened at $1.87 on Friday. Plug Power has a twelve month low of $1.60 and a twelve month high of $5.14. The company has a market capitalization of $1.64 billion, a P/E ratio of -0.87 and a beta of 1.81. The firm has a 50 day moving average of $2.08 and a 200 day moving average of $2.40. The company has a quick ratio of 0.91, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in PLUG. HBK Sorce Advisory LLC bought a new position in shares of Plug Power in the first quarter worth approximately $37,000. Nations Financial Group Inc. IA ADV bought a new position in Plug Power in the 2nd quarter worth $26,000. SteelPeak Wealth LLC purchased a new stake in Plug Power in the 2nd quarter worth $26,000. Aire Advisors LLC bought a new stake in Plug Power during the second quarter valued at about $28,000. Finally, Madison Park Capital Advisors LLC purchased a new position in shares of Plug Power in the second quarter valued at about $29,000. 43.48% of the stock is currently owned by institutional investors.
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.
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