Plug Power (NASDAQ:PLUG) Lifted to Buy at Roth Capital

Roth Capital upgraded shares of Plug Power (NASDAQ:PLUGFree Report) from a neutral rating to a buy rating in a report released on Wednesday, PriceTargets.com reports. Roth Capital also issued estimates for Plug Power’s Q4 2023 earnings at ($0.41) EPS, FY2023 earnings at ($1.63) EPS, Q1 2024 earnings at ($0.30) EPS, Q2 2024 earnings at ($0.29) EPS, Q3 2024 earnings at ($0.25) EPS, Q4 2024 earnings at ($0.18) EPS, FY2024 earnings at ($1.02) EPS and FY2025 earnings at $0.05 EPS.

Other equities analysts have also recently issued reports about the company. Craig Hallum reiterated a buy rating and set a $11.00 price target on shares of Plug Power in a report on Friday, December 22nd. Morgan Stanley reiterated an underweight rating and set a $3.00 price target (down from $3.50) on shares of Plug Power in a report on Wednesday, December 6th. B. Riley lowered their price target on Plug Power from $18.00 to $8.00 and set a buy rating for the company in a report on Wednesday, January 24th. UBS Group lowered their price target on Plug Power from $15.50 to $5.00 and set a buy rating for the company in a report on Tuesday, November 14th. Finally, Susquehanna lowered their price target on Plug Power from $4.50 to $3.50 and set a neutral rating for the company in a report on Wednesday, January 24th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $7.81.

View Our Latest Stock Analysis on Plug Power

Plug Power Stock Down 0.9 %

Shares of NASDAQ:PLUG opened at $4.66 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 2.41 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $4.04 and a two-hundred day moving average of $6.56. The stock has a market cap of $2.82 billion, a P/E ratio of -2.91 and a beta of 1.67. Plug Power has a 52-week low of $2.26 and a 52-week high of $18.07.

Plug Power (NASDAQ:PLUGGet Free Report) last issued its earnings results on Thursday, November 9th. The electronics maker reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.15). The company had revenue of $198.71 million during the quarter, compared to analysts’ expectations of $219.57 million. Plug Power had a negative net margin of 106.74% and a negative return on equity of 24.18%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.30) earnings per share. On average, research analysts expect that Plug Power will post -1.69 earnings per share for the current year.

Institutional Investors Weigh In On Plug Power

A number of hedge funds have recently bought and sold shares of PLUG. Norges Bank acquired a new stake in Plug Power in the 4th quarter valued at about $211,176,000. Morgan Stanley boosted its holdings in Plug Power by 87.2% in the third quarter. Morgan Stanley now owns 22,285,344 shares of the electronics maker’s stock valued at $169,369,000 after purchasing an additional 10,378,912 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Plug Power by 28.4% in the second 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 during the last quarter. Electron Capital Partners LLC acquired a new stake in Plug Power during the third quarter worth approximately $13,496,000. Finally, BlackRock Inc. lifted 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 worth $613,915,000 after buying an additional 1,534,756 shares during the last quarter. Institutional investors and hedge funds own 49.99% of the company’s stock.

About Plug Power

(Get Free Report)

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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