Plug Power Inc. (NASDAQ:PLUG - Free Report ) - Equities researchers at B. Riley raised their Q1 2024 EPS estimates for shares of Plug Power in a research report issued to clients and investors on Tuesday, May 7th. B. Riley analyst C. Souther now anticipates that the electronics maker will post earnings of ($0.35) per share for the quarter, up from their previous estimate of ($0.36). B. Riley currently has a "Buy" rating and a $8.00 target price on the stock. The consensus estimate for Plug Power's current full-year earnings is ($0.94) per share. B. Riley also issued estimates for Plug Power's FY2024 earnings at ($1.00) EPS.
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A number of other research analysts also recently issued reports on PLUG. Craig Hallum cut their price objective on shares of Plug Power from $6.00 to $5.00 and set a "buy" rating on the stock in a research report on Monday, March 4th. BMO Capital Markets downgraded shares of Plug Power from a "market perform" rating to an "underperform" rating and dropped their target price for the stock from $3.50 to $2.50 in a research report on Wednesday, January 24th. Royal Bank of Canada dropped their target price on shares of Plug Power from $5.00 to $3.50 and set a "sector perform" rating on the stock in a research report on Wednesday, January 24th. Seaport Res Ptn downgraded shares of Plug Power from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 6th. Finally, Susquehanna dropped their target price on shares of Plug Power from $3.50 to $3.00 and set a "neutral" rating on the stock in a research report on Friday. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Plug Power presently has a consensus rating of "Hold" and a consensus target price of $5.94.
Check Out Our Latest Analysis on PLUG
Plug Power Trading Down 7.6 % Shares of Plug Power stock traded down $0.21 on Friday, reaching $2.56. The stock had a trading volume of 32,671,621 shares, compared to its average volume of 28,554,064. The company has a 50 day moving average price of $3.09 and a 200 day moving average price of $3.87. The company has a quick ratio of 0.86, a current ratio of 1.85 and a debt-to-equity ratio of 0.18. Plug Power has a 1 year low of $2.25 and a 1 year high of $13.44.
Plug Power (NASDAQ:PLUG - Get Free Report ) last issued its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.52). Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. The firm had revenue of $222.20 million during the quarter, compared to analysts' expectations of $234.21 million. During the same period in the previous year, the firm earned ($0.38) EPS. The firm's quarterly revenue was up .7% on a year-over-year basis.
Hedge Funds Weigh In On Plug Power A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised 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 worth $189,153,000 after acquiring an additional 999,194 shares during the period. HBK Sorce Advisory LLC purchased a new stake in shares of Plug Power during the first quarter worth $37,000. State Board of Administration of Florida Retirement System grew its holdings in shares of Plug Power by 5.9% during 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. Headlands Technologies LLC purchased a new stake in shares of Plug Power during the first quarter worth $154,000. Finally, 49 Wealth Management LLC purchased a new stake in shares of Plug Power during the first quarter worth $56,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.
Plug Power Company Profile (
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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.
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