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Plug Power (NASDAQ:PLUG) Announces Earnings Results

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

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Shares of NASDAQ:PLUG traded up $0.07 during midday trading on Friday, hitting $2.73. The company had a trading volume of 2,338,600 shares, compared to its average volume of 4,178,701. The firm has a fifty day simple moving average of $2.74 and a 200 day simple moving average of $2.45. Plug Power has a 12 month low of $0.99 and a 12 month high of $3.14. The stock has a market cap of $697.94 million, a price-to-earnings ratio of -7.58 and a beta of 1.45.

A number of research analysts have commented on the company. HC Wainwright set a $4.00 price objective on Plug Power and gave the company a “buy” rating in a research report on Wednesday, September 18th. Cowen set a $3.00 price objective on Plug Power and gave the company a “buy” rating in a research report on Tuesday, September 17th. Zacks Investment Research upgraded Plug Power from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a research report on Tuesday, October 22nd. B. Riley set a $3.50 price objective on Plug Power and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, ValuEngine upgraded Plug Power from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Plug Power has an average rating of “Buy” and an average target price of $3.06.

About Plug Power

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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