What is HC Wainwright's Estimate for Plug Power Q2 Earnings?

Key Points

• HC Wainwright raised its Q2 2026 EPS estimate for Plug Power to ($0.08) from ($0.10), while keeping a Buy rating and $7.00 price target on the stock.
• Plug Power’s most recent quarter came in better than expected, with EPS of ($0.08) versus consensus of ($0.09) and revenue of $163.51 million, well above the $139.87 million estimate and up 22.3% year over year.
• Analyst sentiment remains mixed despite the improved results, with several firms lifting price targets but the overall Street view still at Hold and an average target price of $3.37.

Plug Power, Inc. (NASDAQ:PLUG - Free Report) - HC Wainwright increased their Q2 2026 earnings estimates for shares of Plug Power in a note issued to investors on Tuesday, May 12th. HC Wainwright analyst A. Dayal now anticipates that the electronics maker will post earnings per share of ($0.08) for the quarter, up from their previous estimate of ($0.10). HC Wainwright has a "Buy" rating and a $7.00 price objective on the stock. The consensus estimate for Plug Power's current full-year earnings is ($0.30) per share. HC Wainwright also issued estimates for Plug Power's Q3 2026 earnings at ($0.07) EPS, Q4 2026 earnings at ($0.04) EPS, FY2026 earnings at ($0.37) EPS, FY2027 earnings at ($0.12) EPS, FY2028 earnings at ($0.08) EPS and FY2029 earnings at $0.01 EPS.

A number of other analysts also recently issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of Plug Power from $2.50 to $4.00 and gave the company a "hold" rating in a report on Tuesday. BMO Capital Markets lifted their price objective on shares of Plug Power from $1.00 to $1.20 and gave the company an "underperform" rating in a report on Tuesday. Wells Fargo & Company lifted their price objective on shares of Plug Power from $1.50 to $2.00 and gave the company an "equal weight" rating in a report on Wednesday, March 4th. Susquehanna lifted their price objective on shares of Plug Power from $2.75 to $3.75 and gave the company a "neutral" rating in a report on Wednesday. Finally, B. Riley Financial boosted their target price on shares of Plug Power from $3.00 to $5.00 and gave the stock a "buy" rating in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Plug Power presently has an average rating of "Hold" and an average target price of $3.37.

Plug Power Price Performance

NASDAQ PLUG opened at $3.96 on Thursday. The company has a quick ratio of 1.46, a current ratio of 2.36 and a debt-to-equity ratio of 0.89. Plug Power has a 12-month low of $0.69 and a 12-month high of $4.58. The company has a market capitalization of $5.52 billion, a PE ratio of -3.00 and a beta of 2.06. The firm's 50 day moving average is $2.69 and its 200-day moving average is $2.38.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.01. Plug Power had a negative net margin of 227.13% and a negative return on equity of 49.30%. The company had revenue of $163.51 million for the quarter, compared to the consensus estimate of $139.87 million. During the same period last year, the company earned ($0.21) earnings per share. The firm's revenue was up 22.3% compared to the same quarter last year.

Hedge Funds Weigh In On Plug Power

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Plug Power by 18.2% in the fourth quarter. Vanguard Group Inc. now owns 129,599,295 shares of the electronics maker's stock valued at $255,311,000 after acquiring an additional 19,967,339 shares during the period. SG Americas Securities LLC boosted its position in shares of Plug Power by 208.6% in the fourth quarter. SG Americas Securities LLC now owns 1,119,191 shares of the electronics maker's stock valued at $2,205,000 after acquiring an additional 756,510 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Plug Power by 188,201.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 781,452 shares of the electronics maker's stock valued at $1,539,000 after acquiring an additional 781,037 shares during the period. Bouvel Investment Partners LLC boosted its position in shares of Plug Power by 2,210.4% in the fourth quarter. Bouvel Investment Partners LLC now owns 346,556 shares of the electronics maker's stock valued at $683,000 after acquiring an additional 331,556 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Plug Power by 82.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 526,914 shares of the electronics maker's stock valued at $1,038,000 after acquiring an additional 238,443 shares during the period. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Plug Power

Here are the key news stories impacting Plug Power this week:

• Positive Sentiment: Plug Power reported first-quarter revenue of about $163.5 million, topping Wall Street expectations and rising 22% year over year, while adjusted losses were narrower than expected. Investors viewed the results as evidence that the business is improving operationally. Plug Power spikes to YTD high after posting stronger-than-expected Q1 revenues
• Positive Sentiment: Management said it remains on track to reach positive EBITDA in Q4 2026, which strengthened the market’s view that Project Quantum Leap is improving margins and cash flow. Why Plug Power Stock Skyrocketed Today
• Positive Sentiment: Susquehanna raised its price target on PLUG to $3.75 from $2.75, and Canaccord Genuity lifted its target to $4.00 from $2.50, signaling growing analyst confidence after the earnings report. Susquehanna Issues Positive Forecast for Plug Power NASDAQ: PLUG Stock Price
• Positive Sentiment: Several reports highlighted a sharp improvement in gross margins and a dramatic recovery in operating economics, which helped fuel bullish sentiment around a possible profitability inflection point. Plug Power Flips The Switch On Profitability
• Neutral Sentiment: Despite the optimism, some analysts kept neutral/hold ratings, suggesting the stock has already priced in part of the near-term improvement and that execution risk remains. Plug Power NASDAQ: PLUG Price Target Raised to $4.00 at Canaccord Genuity Group
• Neutral Sentiment: Newly disclosed geopolitical and global shipping risks could affect international operations, but this looks more like a longer-term risk factor than a near-term trading catalyst. Geopolitical Tensions Threaten Plug Power’s Global Shipping Routes and Financial Performance

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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