Plug Power’s (PLUG) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Plug Power (NASDAQ:PLUG) in a report issued on Wednesday,Benzinga reports. They currently have a $18.00 price target on the electronics maker’s stock. HC Wainwright also issued estimates for Plug Power’s Q4 2024 earnings at ($0.29) EPS, FY2024 earnings at ($1.36) EPS, FY2025 earnings at ($0.49) EPS, FY2026 earnings at ($0.39) EPS, FY2027 earnings at ($0.21) EPS and FY2028 earnings at $0.11 EPS.

Several other research analysts also recently commented on PLUG. Jefferies Financial Group lowered their price objective on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Truist Financial lowered their price objective on shares of Plug Power from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Canaccord Genuity Group lowered their price objective on shares of Plug Power from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Monday, August 12th. Craig Hallum lowered their price target on shares of Plug Power from $5.00 to $4.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Piper Sandler lowered their price target on shares of Plug Power from $2.50 to $2.40 and set an “underweight” rating for the company in a report on Monday, July 22nd. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.52.

Plug Power Stock Down 5.1 %

NASDAQ PLUG opened at $1.87 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. Plug Power has a 1-year low of $1.60 and a 1-year high of $5.14. The company has a 50 day moving average of $2.08 and a 200-day moving average of $2.40. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -0.87 and a beta of 1.81.

Plug Power (NASDAQ:PLUG) 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). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The firm had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. During the same quarter in the prior year, the firm earned ($0.47) earnings per share. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. On average, equities research analysts expect that Plug Power will post -1.16 earnings per share for the current fiscal year.

Institutional Trading of Plug Power

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Plug Power by 1.9% during the first quarter. Vanguard Group Inc. now owns 54,986,479 shares of the electronics maker’s stock valued at $189,153,000 after acquiring an additional 999,194 shares during the last quarter. Geode Capital Management LLC boosted its position in 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 valued at $43,388,000 after acquiring an additional 3,662,456 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Plug Power by 25.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock valued at $15,000,000 after acquiring an additional 1,354,500 shares during the last quarter. Van ECK Associates Corp boosted its position in Plug Power by 23.6% during the third quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker’s stock valued at $8,803,000 after acquiring an additional 809,187 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its position in Plug Power by 44.3% during the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock valued at $7,744,000 after acquiring an additional 1,051,400 shares during the last quarter. Institutional investors own 43.48% of the company’s stock.

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.