Plug Power (NASDAQ:PLUG) Announces Earnings Results

Key Points

• Plug Power beat quarterly expectations, reporting an adjusted loss of $0.07 per share versus the consensus loss estimate of $0.08. Revenue reached $178.30 million, ahead of analysts’ $169.11 million forecast.
• Shares fell $0.07 to $2.11 after the results, with the stock trading below its 50-day and 200-day moving averages. Plug Power continues to report significant losses, including a negative net margin of 227.13%.
• Analysts maintain a consensus “Hold” rating, with an average price target of $3.30; two analysts rate the stock a Strong Buy, while three assign a Sell rating.

Plug Power (NASDAQ:PLUG - Get Free Report) announced its earnings results on Monday. The electronics maker reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01, FiscalAI reports. The business had revenue of $178.30 million for the quarter, compared to analysts' expectations of $169.11 million. Plug Power had a negative return on equity of 49.30% and a negative net margin of 227.13%.

Plug Power Stock Performance

Shares of Plug Power stock traded down $0.07 during trading on Monday, hitting $2.11. 118,364,012 shares of the company's stock were exchanged, compared to its average volume of 77,766,680. The business has a 50-day simple moving average of $2.56 and a 200-day simple moving average of $2.60. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -1.60 and a beta of 2.20. Plug Power has a 52-week low of $1.41 and a 52-week high of $4.58. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.40 and a current ratio of 2.36.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. &PARTNERS boosted its position in Plug Power by 43.6% during the fourth quarter. &PARTNERS now owns 30,428 shares of the electronics maker's stock worth $60,000 after purchasing an additional 9,244 shares in the last quarter. Kestra Advisory Services LLC increased its position in shares of Plug Power by 17.9% in the fourth quarter. Kestra Advisory Services LLC now owns 38,482 shares of the electronics maker's stock valued at $76,000 after buying an additional 5,845 shares in the last quarter. Orion Porfolio Solutions LLC acquired a new position in shares of Plug Power during the 4th quarter worth approximately $55,000. Abel Hall LLC raised its stake in shares of Plug Power by 31.7% during the 3rd quarter. Abel Hall LLC now owns 26,491 shares of the electronics maker's stock worth $62,000 after buying an additional 6,381 shares during the period. Finally, Worth Venture Partners LLC purchased a new position in shares of Plug Power during the 3rd quarter valued at approximately $70,000. 43.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Weiss Ratings downgraded Plug Power from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, July 28th. BMO Capital Markets lifted their price objective on shares of Plug Power from $1.00 to $1.20 and gave the stock an "underperform" rating in a research report on Tuesday, May 12th. Wells Fargo & Company boosted their price objective on shares of Plug Power from $2.00 to $2.50 and gave the stock an "equal weight" rating in a research note on Tuesday, May 19th. Canaccord Genuity Group raised their target price on shares of Plug Power from $2.50 to $4.00 and gave the company a "hold" rating in a research note on Tuesday, May 12th. Finally, TD Cowen boosted their target price on Plug Power from $2.00 to $3.00 and gave the stock a "hold" rating in a research note on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $3.30.

Plug Power Company Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.

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