Analysts Offer Predictions for Plug Power FY2024 Earnings

Plug Power Inc. (NASDAQ:PLUG - Free Report) - Investment analysts at Seaport Res Ptn issued their FY2024 EPS estimates for Plug Power in a note issued to investors on Monday, January 27th. Seaport Res Ptn analyst T. Curran expects 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 ($1.20) 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 research analysts have also issued reports on the stock. Canaccord Genuity Group dropped their price objective on shares of Plug Power from $2.50 to $2.25 and set a "hold" rating for the company in a report on Wednesday, November 13th. Piper Sandler dropped their price objective on shares of Plug Power from $1.60 to $1.40 and set an "underweight" rating for the company in a report on Thursday, November 14th. Jefferies Financial Group dropped their price objective on shares of Plug Power from $2.20 to $2.00 and set a "hold" rating for the company in a report on Thursday, October 3rd. Craig Hallum dropped their price objective on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a report on Thursday, November 14th. Finally, Wells Fargo & Company lowered their target price on shares of Plug Power from $3.00 to $2.00 and set an "equal weight" rating for the company in a research note on Thursday, November 14th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $4.46.

Plug Power Trading Up 2.1 %

Shares of PLUG traded up $0.04 during mid-day trading on Wednesday, reaching $1.92. The stock had a trading volume of 53,032,766 shares, compared to its average volume of 79,606,398. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. Plug Power has a 52-week low of $1.60 and a 52-week high of $5.14. The business's fifty day moving average is $2.36 and its 200 day moving average is $2.22. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -0.90 and a beta of 1.79.

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

Hedge Funds Weigh In On Plug Power

Several institutional investors have recently bought and sold shares of PLUG. Pacific Sage Partners LLC acquired a new position in Plug Power in the 4th quarter valued at $25,000. Profund Advisors LLC acquired a new position in Plug Power in the 2nd quarter valued at $29,000. Prio Wealth Limited Partnership acquired a new position in Plug Power in the 3rd quarter valued at $29,000. Catalyst Capital Advisors LLC increased its stake in Plug Power by 79.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker's stock valued at $29,000 after buying an additional 5,631 shares during the period. Finally, First Commonwealth Financial Corp PA acquired a new position in Plug Power in the 3rd quarter valued at $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.