HC Wainwright Reduces Earnings Estimates for Plug Power

Plug Power Inc. (NASDAQ:PLUG - Free Report) - Research analysts at HC Wainwright dropped their FY2025 earnings estimates for shares of Plug Power in a research report issued on Monday, November 18th. HC Wainwright analyst A. Dayal now anticipates that the electronics maker will post earnings of ($0.75) per share for the year, down from their prior estimate of ($0.49). 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 ($1.20) per share. HC Wainwright also issued estimates for Plug Power's FY2026 earnings at ($0.51) EPS, FY2027 earnings at ($0.45) EPS and FY2028 earnings at ($0.37) EPS.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.01). The company had revenue of $173.70 million during 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%. Plug Power's quarterly revenue was down 12.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.47) earnings per share.

A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada lowered their price target on shares of Plug Power from $3.50 to $2.50 and set a "sector perform" rating on the stock in a report on Monday, August 12th. Jefferies Financial Group dropped their price target on Plug Power from $2.20 to $2.00 and set a "hold" rating for the company in a research note on Thursday, October 3rd. BTIG Research downgraded Plug Power from a "buy" rating to a "neutral" rating in a report on Thursday, November 14th. Evercore ISI reduced their price objective on Plug Power from $5.00 to $4.00 and set an "outperform" rating for the company in a report on Wednesday, November 13th. Finally, Wells Fargo & Company reduced their price objective on Plug Power from $3.00 to $2.00 and set an "equal weight" rating for the company in a report on Thursday, November 14th. Four 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 stock. According to MarketBeat.com, Plug Power currently has an average rating of "Hold" and an average price target of $4.52.

Plug Power Stock Performance

NASDAQ PLUG traded down $0.02 during trading on Wednesday, hitting $1.90. 35,980,520 shares of the company's stock traded hands, compared to its average volume of 41,331,355. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -0.91 and a beta of 1.81. Plug Power has a 12-month low of $1.60 and a 12-month 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 business has a 50 day moving average of $2.08 and a 200-day moving average of $2.40.

Hedge Funds Weigh In On Plug Power

Hedge funds have recently bought and sold shares of the company. Arete Wealth Advisors LLC boosted its holdings in shares of Plug Power by 575.8% during the third quarter. Arete Wealth Advisors LLC now owns 147,117 shares of the electronics maker's stock worth $332,000 after purchasing an additional 125,347 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 3,662,456 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in Plug Power by 31.7% in the third quarter. Duff & Phelps Investment Management Co. now owns 75,160 shares of the electronics maker's stock valued at $170,000 after acquiring an additional 18,110 shares during the last quarter. Main Management ETF Advisors LLC purchased a new stake in shares of Plug Power during the third quarter worth about $823,000. Finally, XTX Topco Ltd bought a new stake in Plug Power in the third quarter valued at about $2,174,000. 43.48% of the stock is owned by hedge funds and other 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.