Seaport Res Ptn Forecasts Plug Power FY2024 Earnings

Plug Power Inc. (NASDAQ:PLUG - Free Report) - Equities research analysts at Seaport Res Ptn issued their FY2024 earnings per share estimates for Plug Power in a research note issued to investors on Monday, January 27th. Seaport Res Ptn analyst T. Curran forecasts that the electronics maker will earn ($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 ($1.21) 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 weighed in on the company. BTIG Research lowered Plug Power from a "buy" rating to a "neutral" rating in a research note on Thursday, November 14th. Wells Fargo & Company reduced their price target on Plug Power from $3.00 to $2.00 and set an "equal weight" rating for the company in a research report on Thursday, November 14th. Evercore ISI lowered their price objective on Plug Power from $5.00 to $4.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 13th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price objective on shares of Plug Power in a research note on Wednesday, November 13th. Finally, Susquehanna boosted their target price on shares of Plug Power from $2.00 to $2.50 and gave the company a "neutral" rating in a research note on Thursday, January 16th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $4.18.

Plug Power Stock Performance

Shares of Plug Power stock traded down $0.06 during trading on Wednesday, hitting $1.86. 68,720,912 shares of the company's stock were exchanged, compared to its average volume of 72,976,432. Plug Power has a 52-week low of $1.60 and a 52-week high of $5.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -0.87 and a beta of 1.79. The business has a 50-day simple moving average of $2.36 and a 200-day simple moving average of $2.20.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.01). The business had revenue of $173.70 million for the quarter, compared to analysts' expectations of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business's quarterly revenue was down 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.47) earnings per share.

Institutional Trading of Plug Power

A number of institutional investors have recently made changes to their positions in PLUG. Pacific Sage Partners LLC purchased a new position in Plug Power in the 4th quarter valued at $25,000. Profund Advisors LLC purchased a new position in shares of Plug Power in the second quarter worth about $29,000. Prio Wealth Limited Partnership acquired a new position in Plug Power during the third quarter worth about $29,000. Catalyst Capital Advisors LLC grew its stake in Plug Power by 79.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker's stock valued at $29,000 after acquiring an additional 5,631 shares in the last quarter. Finally, First Commonwealth Financial Corp PA acquired a new stake in Plug Power in the 3rd quarter valued at about $29,000. 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.