Plug Power’s (PLUG) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Plug Power (NASDAQ:PLUG) in a research report released on Wednesday,Benzinga reports. They currently have a $18.00 target price on the electronics maker’s stock. HC Wainwright also issued estimates for Plug Power’s Q4 2024 earnings at ($0.29) EPS, FY2024 earnings at ($1.36) EPS, FY2025 earnings at ($0.49) EPS, FY2026 earnings at ($0.39) EPS, FY2027 earnings at ($0.21) EPS and FY2028 earnings at $0.11 EPS.

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity Group decreased their price objective on Plug Power from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Monday, August 12th. Truist Financial cut their price objective on shares of Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Craig Hallum reduced their price objective on shares of Plug Power from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Piper Sandler lowered their target price on shares of Plug Power from $2.50 to $2.40 and set an “underweight” rating for the company in a research note on Monday, July 22nd. Finally, Royal Bank of Canada reduced their price target on Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a research report on Monday, August 12th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.52.

Plug Power Trading Down 5.1 %

NASDAQ PLUG opened at $1.87 on Wednesday. Plug Power has a one year low of $1.60 and a one year high of $5.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 2.08. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -0.87 and a beta of 1.81. The company’s 50-day simple moving average is $2.08 and its two-hundred day simple moving average is $2.40.

Plug Power (NASDAQ:PLUG) 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 business had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.47) earnings per share. Equities analysts forecast that Plug Power will post -1.16 EPS for the current fiscal year.

Institutional Trading of Plug Power

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in shares of Plug Power by 23.6% in 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 purchasing an additional 3,662,456 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in Plug Power by 31.7% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 75,160 shares of the electronics maker’s stock valued at $170,000 after purchasing an additional 18,110 shares during the last quarter. Main Management ETF Advisors LLC purchased a new stake in shares of Plug Power in the 3rd quarter valued at approximately $823,000. XTX Topco Ltd acquired a new stake in shares of Plug Power during the 3rd quarter worth approximately $2,174,000. Finally, Stifel Financial Corp raised its position in shares of Plug Power by 23.4% during the 3rd quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker’s stock valued at $3,160,000 after buying an additional 265,514 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.