Brokers Offer Predictions for Plug Power FY2024 Earnings

Plug Power Inc. (NASDAQ:PLUG) – Investment analysts at Seaport Res Ptn issued their FY2024 EPS estimates for 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 post earnings per share of ($1.24) 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.

Other analysts have also issued reports about the stock. Evercore ISI reduced their price objective on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Jefferies Financial Group decreased their price objective on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Canaccord Genuity Group cut their target price on Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Wells Fargo & Company reduced their target price on Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Thursday, November 14th. Finally, Susquehanna increased their price objective on Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.46.

Plug Power Trading Up 0.5 %

PLUG opened at $1.96 on Wednesday. The stock has a 50-day moving average price of $2.36 and a 200-day moving average price of $2.22. Plug Power has a 1 year low of $1.60 and a 1 year 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.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data 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 company had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. During the same quarter in the previous year, the firm posted ($0.47) EPS. The firm’s quarterly revenue was down 12.6% compared to the same quarter last year.

Institutional Investors Weigh In On Plug Power

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pacific Sage Partners LLC purchased a new position in shares of Plug Power during the 4th quarter valued at about $25,000. Profund Advisors LLC bought a new stake in shares of Plug Power during the 2nd quarter valued at $29,000. Prio Wealth Limited Partnership bought a new stake in shares of Plug Power during the 3rd quarter valued at $29,000. Catalyst Capital Advisors LLC boosted its holdings 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 worth $29,000 after buying an additional 5,631 shares during the period. Finally, First Commonwealth Financial Corp PA purchased a new stake in Plug Power in the 3rd quarter worth $29,000. 43.48% of the stock is currently 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.