FY2022 EPS Estimates for Plug Power Inc. Raised by Piper Sandler (NASDAQ:PLUG)


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Plug Power Inc. (NASDAQ:PLUG) – Stock analysts at Piper Sandler raised their FY2022 earnings estimates for shares of Plug Power in a research note issued on Monday, April 5th. Piper Sandler analyst P. Hammond now expects that the electronics maker will earn ($0.15) per share for the year, up from their prior estimate of ($0.16).

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Thursday, February 25th. The electronics maker reported ($1.12) EPS for the quarter, missing the consensus estimate of ($0.08) by ($1.04). Plug Power had a negative net margin of 33.75% and a negative return on equity of 37.12%. The firm had revenue of $139.66 million for the quarter, compared to analyst estimates of $84.93 million.

A number of other analysts have also recently weighed in on the stock. Craig Hallum decreased their target price on shares of Plug Power from $88.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, March 23rd. Sanford C. Bernstein initiated coverage on shares of Plug Power in a research note on Wednesday, February 3rd. They set an “outperform” rating and a $75.00 target price on the stock. Truist Securities reaffirmed a “hold” rating and set a $42.00 target price (down previously from $65.00) on shares of Plug Power in a research note on Tuesday, March 23rd. Truist cut shares of Plug Power from a “buy” rating to a “hold” rating in a research note on Wednesday, March 17th. Finally, Cowen decreased their target price on shares of Plug Power from $82.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, February 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $51.93.

Shares of PLUG opened at $31.96 on Thursday. Plug Power has a one year low of $3.66 and a one year high of $75.49. The company has a market cap of $15.00 billion, a P/E ratio of -96.85 and a beta of 1.81. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.95 and a quick ratio of 2.44. The firm has a 50 day simple moving average of $42.35 and a two-hundred day simple moving average of $35.66.

Several hedge funds and other institutional investors have recently made changes to their positions in PLUG. Penserra Capital Management LLC acquired a new position in shares of Plug Power during the fourth quarter valued at about $28,000. North Star Investment Management Corp. raised its holdings in shares of Plug Power by 30.5% during the fourth quarter. North Star Investment Management Corp. now owns 855 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 200 shares during the period. Fortis Group Advisors LLC acquired a new position in shares of Plug Power during the third quarter valued at about $32,000. Trustcore Financial Services LLC raised its holdings in shares of Plug Power by 375.0% in the 4th quarter. Trustcore Financial Services LLC now owns 950 shares of the electronics maker’s stock worth $32,000 after acquiring an additional 750 shares during the last quarter. Finally, Chiron Capital Management LLC acquired a new stake in shares of Plug Power in the 3rd quarter worth about $34,000. Hedge funds and other institutional investors own 50.89% of the company’s stock.

In other news, Director Jonathan M. Silver sold 1,780 shares of the company’s stock in a transaction dated Monday, January 11th. The shares were sold at an average price of $48.92, for a total transaction of $87,077.60. Following the transaction, the director now owns 42,888 shares in the company, valued at $2,098,080.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George C. Mcnamee sold 10,000 shares of the company’s stock in a transaction dated Wednesday, January 13th. The shares were sold at an average price of $70.45, for a total transaction of $704,500.00. Following the transaction, the director now owns 899,390 shares in the company, valued at approximately $63,362,025.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 595,048 shares of company stock worth $39,044,777. 4.50% of the stock is owned by company insiders.

About Plug Power

Plug Power, Inc provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses.

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Earnings History and Estimates for Plug Power (NASDAQ:PLUG)

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