Plug Power (NASDAQ:PLUG) Issues Earnings Results

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

Plug Power Price Performance

NASDAQ:PLUG traded up $0.04 during midday trading on Wednesday, hitting $2.57. 15,667,628 shares of the stock were exchanged, compared to its average volume of 95,186,594. The business has a 50-day moving average price of $2.65 and a two-hundred day moving average price of $1.77. The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of -1.12 and a beta of 2.28. Plug Power has a one year low of $0.69 and a one year high of $4.58.

Institutional Trading of Plug Power

Several institutional investors have recently modified their holdings of PLUG. Sender Co & Partners Inc. acquired a new position in Plug Power during the second quarter worth about $26,000. Focus Partners Wealth bought a new stake in shares of Plug Power in the 1st quarter worth approximately $37,000. NewEdge Advisors LLC boosted its holdings in Plug Power by 404.6% during the second quarter. NewEdge Advisors LLC now owns 29,369 shares of the electronics maker’s stock worth $44,000 after buying an additional 23,549 shares in the last quarter. Norges Bank acquired a new position in Plug Power in the second quarter worth approximately $68,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Plug Power by 340.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 67,238 shares of the electronics maker’s stock valued at $100,000 after acquiring an additional 51,966 shares during the last quarter. Institutional investors and hedge funds own 43.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PLUG shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Plug Power in a research note on Wednesday, October 8th. Hsbc Global Res raised Plug Power to a “strong-buy” rating in a report on Thursday, October 9th. Susquehanna increased their target price on Plug Power from $1.80 to $3.50 and gave the stock a “neutral” rating in a research report on Monday, October 13th. Jefferies Financial Group boosted their price target on shares of Plug Power from $0.90 to $1.60 and gave the company a “hold” rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded shares of Plug Power from a “sell” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, Plug Power has an average rating of “Hold” and a consensus target price of $2.65.

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.