FY2024 EPS Estimates for Plug Power Raised by Roth Capital

Plug Power Inc. (NASDAQ:PLUG) – Investment analysts at Roth Capital upped their FY2024 earnings per share estimates for shares of Plug Power in a report released on Tuesday, November 12th. Roth Capital analyst C. Irwin now forecasts 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.

Several other analysts have also issued reports on PLUG. Evercore ISI dropped their price objective on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday. Royal Bank of Canada cut their price target on Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a report on Monday, August 12th. Jefferies Financial Group reduced 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. Susquehanna lowered their price objective on Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Finally, Truist Financial reduced their target price on Plug Power from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.52.

Plug Power Trading Down 5.1 %

Shares of PLUG stock opened at $1.87 on Friday. The firm has a market capitalization of $1.64 billion, a P/E ratio of -0.87 and a beta of 1.81. Plug Power has a 1 year low of $1.60 and a 1 year high of $5.14. The firm’s fifty day simple moving average is $2.08 and its 200 day simple moving average is $2.40. 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 (NASDAQ:PLUG) last issued its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. During the same quarter last year, the firm earned ($0.47) earnings per share. The firm’s quarterly revenue was down 12.6% compared to the same quarter last year.

Institutional Trading of Plug Power

Several large investors have recently made changes to their positions in the business. HBK Sorce Advisory LLC bought a new stake in Plug Power during the 1st quarter worth about $37,000. Nations Financial Group Inc. IA ADV bought a new stake in shares of Plug Power during the second quarter valued at approximately $26,000. SteelPeak Wealth LLC acquired a new stake in shares of Plug Power in the second quarter valued at approximately $26,000. Aire Advisors LLC bought a new position in Plug Power in the 2nd quarter worth approximately $28,000. Finally, Madison Park Capital Advisors LLC acquired a new position in Plug Power during the 2nd quarter worth $29,000. 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.