What is B. Riley's Estimate for Plug Power FY2024 Earnings?

Plug Power Inc. (NASDAQ:PLUG - Free Report) - Equities researchers at B. Riley dropped their FY2024 earnings estimates for Plug Power in a note issued to investors on Thursday, November 14th. B. Riley analyst R. Pfingst now anticipates that the electronics maker will post earnings of ($1.28) per share for the year, down from their previous forecast of ($1.14). The consensus estimate for Plug Power's current full-year earnings is ($1.20) per share. B. Riley also issued estimates for Plug Power's Q4 2024 earnings at ($0.26) EPS, FY2025 earnings at ($0.63) EPS and FY2026 earnings at ($0.42) EPS.

Other equities analysts also recently issued research reports about the stock. Craig Hallum dropped their price objective on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Thursday. BTIG Research cut shares of Plug Power from a "buy" rating to a "neutral" rating in a research report on Thursday. Truist Financial cut their price objective on shares of Plug Power from $3.00 to $2.00 and set a "hold" rating on the stock in a research report 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 for the company in a research note on Thursday, October 3rd. Finally, HC Wainwright reissued a "buy" rating and set a $18.00 target price on shares of Plug Power in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Plug Power has a consensus rating of "Hold" and an average target price of $4.52.

Plug Power Stock Up 5.6 %

NASDAQ:PLUG traded up $0.11 on Monday, reaching $1.98. 49,094,013 shares of the stock traded hands, compared to its average volume of 41,231,164. The company's fifty day simple moving average is $2.08 and its 200 day simple moving average is $2.40. Plug Power has a 12 month low of $1.60 and a 12 month high of $5.14. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -0.95 and a beta of 1.81. The company has a current ratio of 2.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings results 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). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The firm had revenue of $173.70 million for the quarter, compared to analysts' expectations of $207.25 million. During the same period in the previous year, the company earned ($0.47) EPS. The company's quarterly revenue was down 12.6% on a year-over-year basis.

Institutional Trading of Plug Power

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Plug Power by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 54,986,479 shares of the electronics maker's stock valued at $189,153,000 after buying an additional 999,194 shares during the period. Geode Capital Management LLC increased its position in Plug Power by 23.6% during the third quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker's stock worth $43,388,000 after buying an additional 3,662,456 shares during the period. Charles Schwab Investment Management Inc. increased its position in Plug Power by 25.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker's stock worth $15,000,000 after buying an additional 1,354,500 shares during the period. Van ECK Associates Corp increased its position in Plug Power by 23.6% during the third quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker's stock worth $8,803,000 after buying an additional 809,187 shares during the period. Finally, Vontobel Holding Ltd. increased its position in Plug Power by 44.3% during the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker's stock worth $7,744,000 after buying an additional 1,051,400 shares during the period. 43.48% of the stock is 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.