Plug Power (NASDAQ:PLUG) Cut to “Strong Sell” at Seaport Res Ptn

Seaport Res Ptn cut shares of Plug Power (NASDAQ:PLUGFree Report) from a hold rating to a strong sell rating in a report published on Monday morning,Zacks.com reports. Seaport Res Ptn also issued estimates for Plug Power’s Q4 2024 earnings at ($0.23) EPS, FY2024 earnings at ($1.24) 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, Q1 2026 earnings at ($0.14) EPS, Q2 2026 earnings at ($0.12) EPS, Q3 2026 earnings at ($0.12) EPS, Q4 2026 earnings at ($0.10) EPS, FY2026 earnings at ($0.47) EPS and FY2027 earnings at ($0.35) EPS.

Several other equities analysts have also commented on the stock. Susquehanna increased their price objective on shares of Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Canaccord Genuity Group decreased their price objective on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Craig Hallum cut their price target on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Plug Power in a report on Wednesday, November 13th. Finally, BTIG Research downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a report 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.46.

View Our Latest Stock Report on Plug Power

Plug Power Stock Performance

PLUG stock opened at $1.88 on Monday. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -0.88 and a beta of 1.79. 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 firm has a 50-day simple moving average of $2.36 and a two-hundred day simple moving average of $2.22. Plug Power has a one year low of $1.60 and a one year high of $5.14.

Plug Power (NASDAQ:PLUGGet 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 company had revenue of $173.70 million during 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 in the previous year, the business earned ($0.47) earnings per share. On average, equities analysts forecast that Plug Power will post -1.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Plug Power

Institutional investors have recently added to or reduced their stakes in the stock. Pacific Sage Partners LLC acquired a new stake in Plug Power in the 4th quarter valued at $25,000. Profund Advisors LLC acquired a new stake in Plug Power in the 2nd quarter valued at $29,000. Prio Wealth Limited Partnership acquired a new stake in Plug Power in the 3rd quarter valued at $29,000. Catalyst Capital Advisors LLC grew 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 acquiring an additional 5,631 shares during the period. Finally, Millburn Ridgefield Corp grew its stake in Plug Power by 79.9% in the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 5,631 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Company Profile

(Get Free Report)

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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