Plug Power (NASDAQ:PLUG) Stock Rating Lowered by Seaport Res Ptn

Seaport Res Ptn lowered shares of Plug Power (NASDAQ:PLUG) from a hold rating to a strong sell rating in a research note published on Monday,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.

PLUG has been the topic of several other research reports. BTIG Research lowered Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Canaccord Genuity Group reduced their price target on Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Craig Hallum cut their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Jefferies Financial Group cut their price objective on Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, StockNews.com raised Plug Power to a “sell” rating in a research report on Wednesday, January 22nd. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Plug Power presently has an average rating of “Hold” and an average target price of $4.46.

Plug Power Stock Down 4.1 %

NASDAQ PLUG opened at $1.88 on Monday. Plug Power has a 52 week low of $1.60 and a 52 week high of $5.14. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The business’s fifty day simple moving average is $2.36 and its 200-day simple moving average is $2.22. The firm has a market cap of $1.71 billion, a PE ratio of -0.88 and a beta of 1.79.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results 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 return on equity of 46.99% and a negative net margin of 214.05%. The company had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. During the same quarter in the prior year, the firm earned ($0.47) EPS. The firm’s revenue was down 12.6% on a year-over-year basis. As a group, equities analysts anticipate that Plug Power will post -1.2 earnings per share for the current year.

Hedge Funds Weigh In On Plug Power

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of 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 worth $43,388,000 after buying an additional 3,662,456 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of 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 worth $15,000,000 after buying an additional 1,354,500 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of Plug Power by 44.3% during the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock worth $7,744,000 after buying an additional 1,051,400 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Plug Power during the third quarter worth about $2,174,000. Finally, Van ECK Associates Corp grew its position in shares of 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 worth $8,803,000 after buying an additional 809,187 shares in the last quarter. 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.