Brokers Issue Forecasts for Plug Power FY2024 Earnings

Plug Power Inc. (NASDAQ:PLUGFree Report) – Equities research analysts at Seaport Res Ptn issued their FY2024 earnings per share (EPS) estimates for shares of Plug Power in a research 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.

Plug Power (NASDAQ:PLUGGet Free Report) last released 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). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business 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. Plug Power’s revenue for the quarter was down 12.6% compared to the same quarter last year.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity Group decreased their price objective on Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. StockNews.com upgraded shares of Plug Power to a “sell” rating in a report on Wednesday, January 22nd. Piper Sandler cut their price target on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a report on Thursday, November 14th. Wells Fargo & Company decreased their price objective 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. Finally, Susquehanna upped their target price on Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $4.46.

Get Our Latest Analysis on PLUG

Plug Power Stock Up 2.1 %

Shares of NASDAQ:PLUG opened at $1.92 on Wednesday. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -0.90 and a beta of 1.79. Plug Power has a 12 month low of $1.60 and a 12 month high of $5.14. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $2.36 and a 200 day moving average price of $2.22.

Institutional Investors Weigh In On Plug Power

A number of institutional investors have recently added to or reduced their stakes in PLUG. Pacific Sage Partners LLC bought a new position in Plug Power in the fourth quarter worth about $25,000. Profund Advisors LLC bought a new position in shares of Plug Power during the 2nd quarter worth approximately $29,000. Prio Wealth Limited Partnership purchased a new stake in Plug Power during the third quarter valued at approximately $29,000. Catalyst Capital Advisors LLC lifted its position in Plug Power by 79.9% during the third 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 last quarter. Finally, Millburn Ridgefield Corp boosted its stake in Plug Power by 79.9% in the third 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 in the last quarter. Institutional investors own 43.48% of the company’s stock.

About Plug Power

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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.

See Also

Earnings History and Estimates for Plug Power (NASDAQ:PLUG)

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