Seaport Res Ptn Comments on Plug Power FY2024 Earnings

Plug Power Inc. (NASDAQ:PLUG - Free Report) - Stock analysts at Seaport Res Ptn issued their FY2024 earnings per share (EPS) estimates for Plug Power in a report issued on Monday, January 27th. Seaport Res Ptn analyst T. Curran expects that the electronics maker will earn ($1.24) per share 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 ($1.21) 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.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The firm had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The firm's revenue was down 12.6% compared to the same quarter last year. During the same period last year, the business earned ($0.47) EPS.

PLUG has been the topic of several other research reports. Evercore ISI cut their price target on Plug Power from $5.00 to $4.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 13th. Piper Sandler reduced their target price on Plug Power from $1.60 to $1.40 and set an "underweight" rating for the company in a research note on Thursday, November 14th. StockNews.com upgraded shares of Plug Power to a "sell" rating in a research note on Wednesday, January 22nd. BTIG Research downgraded shares of Plug Power from a "buy" rating to a "neutral" rating in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group dropped their target price on shares of Plug Power from $2.50 to $2.25 and set a "hold" rating for the company in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $4.18.

Plug Power Stock Down 3.1 %

PLUG stock traded down $0.06 during trading on Wednesday, reaching $1.86. The stock had a trading volume of 68,720,912 shares, compared to its average volume of 72,976,432. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average price of $2.36 and a 200 day moving average price of $2.19. The company has a market capitalization of $1.69 billion, a P/E ratio of -0.87 and a beta of 1.79. Plug Power has a 1-year low of $1.60 and a 1-year high of $5.14.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings 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 valued at $43,388,000 after buying an additional 3,662,456 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Plug Power by 25.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker's stock worth $15,000,000 after acquiring an additional 1,354,500 shares during the period. Vontobel Holding Ltd. grew its stake in shares of Plug Power by 44.3% in the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker's stock worth $7,744,000 after purchasing 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 valued at $2,174,000. Finally, Van ECK Associates Corp increased its holdings 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 valued at $8,803,000 after purchasing an additional 809,187 shares during the period. 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.