Plug Power (NASDAQ:PLUG) Issues Quarterly Earnings Results

Plug Power (NASDAQ:PLUG) announced its quarterly earnings data on Monday. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01, Zacks reports. The business had revenue of $177.06 million during the quarter, compared to analyst estimates of $185.41 million. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. Plug Power updated its FY 2025 guidance to EPS.

Plug Power Trading Down 3.4%

PLUG traded down $0.09 on Monday, hitting $2.56. The company had a trading volume of 185,333,894 shares, compared to its average volume of 95,235,609. The business’s fifty day simple moving average is $2.61 and its 200 day simple moving average is $1.74. The company has a quick ratio of 0.82, a current ratio of 1.59 and a debt-to-equity ratio of 0.22. Plug Power has a 12-month low of $0.69 and a 12-month high of $4.58. The company has a market cap of $2.96 billion, a PE ratio of -1.11 and a beta of 2.28.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PLUG. Wall Street Zen upgraded shares of Plug Power from a “sell” rating to a “hold” rating in a research report on Saturday. Hsbc Global Res upgraded shares of Plug Power to a “strong-buy” rating in a research note on Thursday, October 9th. BMO Capital Markets dropped their price objective on shares of Plug Power from $1.10 to $1.00 and set an “underperform” rating for the company in a report on Tuesday, August 12th. Evercore ISI raised Plug Power to a “strong sell” rating in a report on Tuesday, July 15th. Finally, Jefferies Financial Group boosted their target price on Plug Power from $0.90 to $1.60 and gave the stock a “hold” rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $2.54.

Hedge Funds Weigh In On Plug Power

A number of institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in Plug Power by 11.3% in the second quarter. The Manufacturers Life Insurance Company now owns 503,677 shares of the electronics maker’s stock worth $750,000 after buying an additional 50,971 shares during the last quarter. Headlands Technologies LLC bought a new position in Plug Power during the second quarter valued at $718,000. Bank of Nova Scotia increased its position in Plug Power by 121.0% during the second quarter. Bank of Nova Scotia now owns 379,117 shares of the electronics maker’s stock valued at $566,000 after acquiring an additional 207,590 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Plug Power in the second quarter valued at $552,000. Finally, Cerity Partners LLC lifted its holdings in shares of Plug Power by 21.2% in the 2nd quarter. Cerity Partners LLC now owns 326,113 shares of the electronics maker’s stock worth $486,000 after acquiring an additional 56,957 shares during the last quarter. Hedge funds and other institutional investors own 43.48% of the company’s stock.

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.