Seaport Res Ptn Estimates Plug Power FY2024 Earnings

Plug Power Inc. (NASDAQ:PLUG) – Seaport Res Ptn issued their FY2024 EPS estimates for shares of Plug Power in a report released on Monday, January 27th. Seaport Res Ptn analyst T. Curran forecasts 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 ($1.20) 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.

A number of other equities research analysts have also issued reports on PLUG. HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Plug Power in a research note on Wednesday, November 13th. Craig Hallum lowered their target price on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. BTIG Research downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Evercore ISI lowered their price objective on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group reduced their target price on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.46.

Plug Power Price Performance

NASDAQ PLUG opened at $1.96 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. Plug Power has a 52 week low of $1.60 and a 52 week high of $5.14. The company has a fifty day moving average of $2.36 and a two-hundred day moving average of $2.22.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share 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 during the quarter, compared to the consensus estimate of $207.25 million. During the same quarter last year, the firm earned ($0.47) earnings per share. The business’s quarterly revenue was down 12.6% on a year-over-year basis.

Institutional Trading of Plug Power

Large investors have recently bought and sold shares of the stock. Pacific Sage Partners LLC acquired a new stake in shares of Plug Power during the fourth quarter worth $25,000. Profund Advisors LLC purchased a new stake in Plug Power during the 2nd quarter valued at about $29,000. Prio Wealth Limited Partnership acquired a new position in shares of Plug Power in the third quarter valued at about $29,000. Catalyst Capital Advisors LLC raised its stake in shares of Plug Power by 79.9% in the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 5,631 shares during the last quarter. Finally, Millburn Ridgefield Corp lifted its holdings in shares of Plug Power by 79.9% during the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 5,631 shares during the period. Hedge funds and other institutional investors own 43.48% of the company’s stock.

About Plug Power

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.