Plug Power Inc. (NASDAQ:PLUG – Free Report) – HC Wainwright lowered their FY2023 earnings per share (EPS) estimates for Plug Power in a research report issued on Monday, November 13th. HC Wainwright analyst A. Dayal now expects that the electronics maker will post earnings per share of ($1.49) for the year, down from their prior forecast of ($1.35). HC Wainwright currently has a “Buy” rating and a $27.00 target price on the stock. The consensus estimate for Plug Power’s current full-year earnings is ($1.40) per share. HC Wainwright also issued estimates for Plug Power’s FY2024 earnings at ($1.18) EPS and FY2025 earnings at ($0.65) EPS.
A number of other equities analysts have also commented on the company. Oppenheimer lowered Plug Power from an “outperform” rating to a “market perform” rating in a research note on Friday, November 10th. Johnson Rice restated a “hold” rating and set a $6.00 price objective on shares of Plug Power in a research note on Tuesday. Susquehanna decreased their price target on Plug Power from $13.00 to $9.00 and set a “positive” rating on the stock in a research note on Friday, November 10th. Roth Mkm reiterated a “neutral” rating and issued a $7.50 price target (down previously from $13.00) on shares of Plug Power in a research note on Thursday, August 10th. Finally, BMO Capital Markets decreased their price target on Plug Power from $8.00 to $3.75 and set a “market perform” rating on the stock in a research note on Friday, November 10th. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Plug Power presently has a consensus rating of “Hold” and a consensus target price of $10.22.
Plug Power Price Performance
Plug Power stock opened at $4.35 on Wednesday. The stock’s fifty day moving average price is $6.80 and its two-hundred day moving average price is $8.70. Plug Power has a one year low of $3.22 and a one year high of $18.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.41 and a quick ratio of 1.31. The firm has a market cap of $2.63 billion, a PE ratio of -2.72 and a beta of 1.98.
Plug Power (NASDAQ:PLUG – Get Free Report) last released its quarterly earnings results on Thursday, November 9th. The electronics maker reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.15). The firm had revenue of $198.71 million for the quarter, compared to analyst estimates of $219.57 million. Plug Power had a negative return on equity of 24.18% and a negative net margin of 106.74%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.30) earnings per share.
Institutional Investors Weigh In On Plug Power
A number of institutional investors have recently made changes to their positions in PLUG. Norges Bank bought a new stake in shares of Plug Power in the 4th quarter valued at about $211,176,000. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Plug Power by 128,905.5% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 16,955,199 shares of the electronics maker’s stock valued at $176,165,000 after purchasing an additional 16,942,056 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Plug Power by 28.4% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 22,177,114 shares of the electronics maker’s stock valued at $230,420,000 after purchasing an additional 4,903,697 shares in the last quarter. Electron Capital Partners LLC bought a new stake in shares of Plug Power during the 3rd quarter valued at about $13,496,000. Finally, BlackRock Inc. boosted its position in shares of Plug Power by 3.0% during the 1st quarter. BlackRock Inc. now owns 52,381,858 shares of the electronics maker’s stock valued at $613,915,000 after purchasing an additional 1,534,756 shares in the last quarter. Institutional investors own 49.99% of the company’s stock.
Insiders Place Their Bets
In other Plug Power news, insider Jose Luis Crespo sold 31,958 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $7.20, for a total value of $230,097.60. Following the completion of the transaction, the insider now owns 250,609 shares of the company’s stock, valued at approximately $1,804,384.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.60% of the company’s stock.
About Plug Power
Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including liquid green hydrogen production, storage and handling, transportation, and dispensing infrastructure.
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