Plug Power FY2024 EPS Estimate Increased by Roth Capital

Plug Power Inc. (NASDAQ:PLUG) – Roth Capital increased their FY2024 earnings per share estimates for Plug Power in a research report issued to clients and investors on Tuesday, November 12th. Roth Capital analyst C. Irwin now anticipates that the electronics maker will post earnings of ($1.27) per share for the year, up from their previous estimate of ($1.28). The consensus estimate for Plug Power’s current full-year earnings is ($1.16) per share. Roth Capital also issued estimates for Plug Power’s Q4 2024 earnings at ($0.24) EPS, Q4 2025 earnings at ($0.08) EPS and FY2025 earnings at ($0.60) EPS.

PLUG has been the topic of several other research reports. BTIG Research downgraded Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday. Craig Hallum cut their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday. Truist Financial lowered their price objective on Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Evercore ISI cut their target price on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Piper Sandler lowered their price target on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a research report on Thursday. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Plug Power presently has an average rating of “Hold” and a consensus target price of $4.52.

Plug Power Stock Down 5.1 %

Plug Power stock opened at $1.87 on Friday. The firm has a 50 day moving average price of $2.08 and a 200-day moving average price of $2.40. The company has a quick ratio of 0.91, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. Plug Power has a twelve month low of $1.60 and a twelve month high of $5.14. The company has a market capitalization of $1.64 billion, a P/E ratio of -0.87 and a beta of 1.81.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The company had revenue of $173.70 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.47) EPS.

Institutional Investors Weigh In On Plug Power

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vontobel Holding Ltd. boosted its holdings in shares of Plug Power by 44.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock worth $7,744,000 after purchasing an additional 1,051,400 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Plug Power by 5.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 600,188 shares of the electronics maker’s stock worth $2,065,000 after buying an additional 33,311 shares in the last quarter. Gabelli Funds LLC grew its position in Plug Power by 42.9% during the first quarter. Gabelli Funds LLC now owns 250,000 shares of the electronics maker’s stock valued at $860,000 after acquiring an additional 75,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Plug Power by 25.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,945,162 shares of the electronics maker’s stock worth $4,532,000 after acquiring an additional 400,120 shares in the last quarter. Finally, Diversified Trust Co bought a new stake in shares of Plug Power in the 2nd quarter worth approximately $35,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

About Plug Power

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.