Plug Power (NASDAQ:PLUG) Announces Earnings Results

Plug Power (NASDAQ:PLUG) issued its earnings results on Thursday. The electronics maker reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.02), Briefing.com reports. Plug Power had a negative return on equity of 6,435.09% and a negative net margin of 44.51%. The business had revenue of $56.38 million during the quarter, compared to the consensus estimate of $55.58 million. During the same period in the prior year, the business earned ($0.07) EPS. The business’s revenue was up 6.0% on a year-over-year basis.

Shares of PLUG traded up $0.07 during mid-day trading on Friday, reaching $2.73. 2,338,600 shares of the company’s stock traded hands, compared to its average volume of 4,178,701. Plug Power has a 12 month low of $0.99 and a 12 month high of $3.14. The stock has a market capitalization of $697.94 million, a P/E ratio of -7.58 and a beta of 1.45. The business’s 50-day moving average price is $2.74 and its 200-day moving average price is $2.45.

A number of equities analysts have issued reports on PLUG shares. B. Riley set a $3.50 target price on shares of Plug Power and gave the stock a “buy” rating in a report on Thursday, September 26th. Zacks Investment Research raised shares of Plug Power from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a report on Tuesday, October 22nd. HC Wainwright set a $4.00 target price on shares of Plug Power and gave the stock a “buy” rating in a report on Wednesday, September 18th. BidaskClub cut shares of Plug Power from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, ValuEngine raised Plug Power from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Plug Power currently has a consensus rating of “Buy” and an average price target of $3.06.

Plug Power Company Profile

Plug Power Inc, an alternative energy technology provider, engages in the design, development, manufacture, and commercialization of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.

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Earnings History for Plug Power (NASDAQ:PLUG)

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