Plug Power Inc. (NASDAQ:PLUG – Get Rating) – Stock analysts at Oppenheimer decreased their Q3 2022 earnings per share (EPS) estimates for shares of Plug Power in a research note issued on Thursday, October 20th. Oppenheimer analyst C. Rusch now anticipates that the electronics maker will post earnings per share of ($0.23) for the quarter, down from their prior forecast of ($0.19). The consensus estimate for Plug Power's current full-year earnings is ($1.03) per share. Oppenheimer also issued estimates for Plug Power's Q4 2022 earnings at ($0.22) EPS, FY2022 earnings at ($1.02) EPS and FY2023 earnings at ($0.75) EPS.
Get Plug Power alerts:Plug Power (NASDAQ:PLUG – Get Rating) last issued its earnings results on Tuesday, August 9th. The electronics maker reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.09). Plug Power had a negative return on equity of 13.73% and a negative net margin of 105.26%. The firm had revenue of $151.30 million during the quarter, compared to the consensus estimate of $162.31 million. During the same quarter in the prior year, the business earned ($0.18) earnings per share. Plug Power's revenue for the quarter was up 21.5% on a year-over-year basis.
PLUG has been the topic of several other reports. Truist Financial raised their price objective on Plug Power from $21.00 to $32.00 and gave the company a "hold" rating in a research note on Thursday, August 11th. Canaccord Genuity Group dropped their price objective on Plug Power from $21.00 to $16.00 and set a "hold" rating on the stock in a research note on Friday. Cowen dropped their price objective on Plug Power to $35.00 in a research note on Monday, August 15th. Susquehanna Bancshares raised their price objective on Plug Power from $30.00 to $35.00 and gave the company a "positive" rating in a research note on Wednesday, August 10th. Finally, KeyCorp raised their target price on Plug Power from $30.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, August 10th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $32.54.Plug Power Price Performance
Shares of NASDAQ:PLUG opened at $16.29 on Monday. The company has a current ratio of 9.10, a quick ratio of 8.10 and a debt-to-equity ratio of 0.12. The stock's fifty day simple moving average is $24.58 and its two-hundred day simple moving average is $21.36. Plug Power has a 1-year low of $12.70 and a 1-year high of $46.50. The stock has a market cap of $9.43 billion, a PE ratio of -15.13 and a beta of 1.75.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd boosted its position in shares of Plug Power by 18.4% during the 1st quarter. IFM Investors Pty Ltd now owns 76,132 shares of the electronics maker's stock valued at $2,178,000 after acquiring an additional 11,814 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Plug Power by 3.9% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 153,633 shares of the electronics maker's stock valued at $4,395,000 after acquiring an additional 5,707 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Plug Power by 0.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,208,594 shares of the electronics maker's stock valued at $20,027,000 after acquiring an additional 4,493 shares during the last quarter. PSI Advisors LLC boosted its position in shares of Plug Power by 29.3% during the 1st quarter. PSI Advisors LLC now owns 5,125 shares of the electronics maker's stock valued at $147,000 after acquiring an additional 1,160 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Plug Power by 20,408.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 100,490 shares of the electronics maker's stock valued at $2,875,000 after acquiring an additional 100,000 shares during the last quarter. Institutional investors own 51.09% of the company's stock.
Plug Power Company Profile
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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 green hydrogen production, storage and delivery, and energy generation through mobile or stationary applications.
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