Plug Power Inc. (NASDAQ:PLUG - Free Report) - Analysts at B. Riley raised their FY2024 earnings per share (EPS) estimates for shares of Plug Power in a research note issued to investors on Thursday, February 27th. B. Riley analyst R. Pfingst now anticipates that the electronics maker will post earnings of ($1.27) per share for the year, up from their prior forecast of ($1.28). The consensus estimate for Plug Power's current full-year earnings is ($1.21) per share. B. Riley also issued estimates for Plug Power's Q4 2024 earnings at ($0.25) EPS, FY2025 earnings at ($0.60) EPS and FY2026 earnings at ($0.41) EPS.
A number of other research firms have also issued reports on PLUG. Seaport Res Ptn lowered shares of Plug Power from a "hold" rating to a "strong sell" rating in a research note on Monday, January 27th. Craig Hallum decreased their price objective on Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a report on Thursday, November 14th. Piper Sandler cut their target price on Plug Power from $1.60 to $1.40 and set an "underweight" rating on the stock in a research note on Thursday, November 14th. Susquehanna increased their price target on Plug Power from $2.00 to $2.50 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Finally, StockNews.com upgraded shares of Plug Power to a "sell" rating in a research note on Monday, February 10th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $4.12.
View Our Latest Report on PLUG
Shares of PLUG opened at $1.50 on Monday. The firm has a fifty day moving average of $2.11 and a 200-day moving average of $2.11. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -0.70 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. Plug Power has a 1 year low of $1.45 and a 1 year high of $4.90.
A number of institutional investors have recently bought and sold shares of PLUG. Vanguard Group Inc. lifted its stake in Plug Power by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker's stock valued at $186,244,000 after buying an additional 4,491,114 shares in the last quarter. Norges Bank acquired a new position in Plug Power in the 4th quarter worth approximately $146,465,000. Geode Capital Management LLC grew its position in Plug Power by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker's stock worth $42,434,000 after purchasing an additional 722,639 shares in the last quarter. Legal & General Group Plc raised its stake in Plug Power by 8.5% during the 4th quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker's stock valued at $21,602,000 after purchasing an additional 796,774 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Plug Power by 11.1% in the fourth quarter. Northern Trust Corp now owns 7,907,687 shares of the electronics maker's stock valued at $16,843,000 after purchasing an additional 790,650 shares in the last quarter. Hedge funds and other institutional investors own 43.48% of the company's stock.
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.
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