Plug Power (NASDAQ:PLUG) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

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

Plug Power Trading Down 3.4%

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

Hedge Funds Weigh In On Plug Power

Large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Plug Power by 24.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 73,084 shares of the electronics maker’s stock valued at $109,000 after purchasing an additional 14,471 shares in the last quarter. Sender Co & Partners Inc. purchased a new stake in Plug Power during the second quarter worth approximately $26,000. CANADA LIFE ASSURANCE Co increased its position in shares of Plug Power by 10.7% in the second quarter. CANADA LIFE ASSURANCE Co now owns 237,944 shares of the electronics maker’s stock worth $355,000 after acquiring an additional 23,007 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Plug Power by 404.6% in the 2nd quarter. NewEdge Advisors LLC now owns 29,369 shares of the electronics maker’s stock valued at $44,000 after acquiring an additional 23,549 shares during the period. Finally, Focus Partners Wealth purchased a new position in shares of Plug Power in the 1st quarter valued at $37,000. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PLUG. BMO Capital Markets cut their target price on shares of Plug Power from $1.10 to $1.00 and set an “underperform” rating for the company in a research note on Tuesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Plug Power in a research note on Wednesday, October 8th. Hsbc Global Res raised shares of Plug Power to a “strong-buy” rating in a research note on Thursday, October 9th. HC Wainwright increased their price target on Plug Power from $3.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Finally, Wells Fargo & Company raised their price objective on Plug Power from $1.00 to $1.50 and gave the stock an “equal weight” rating in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.54.

About Plug Power

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.