Plug Power (NASDAQ:PLUG) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

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

NASDAQ PLUG traded up $0.07 on Friday, hitting $2.73. 2,338,600 shares of the company were exchanged, compared to its average volume of 4,178,701. The firm has a 50 day moving average of $2.74 and a two-hundred day moving average of $2.45. Plug Power has a 1-year low of $0.99 and a 1-year high of $3.14. The company has a market cap of $697.94 million, a P/E ratio of -7.58 and a beta of 1.45.

Several equities research analysts have recently commented on the stock. Cowen set a $3.00 target price on shares of Plug Power and gave the company a “buy” rating in a research note on Tuesday, September 17th. ValuEngine upgraded shares of Plug Power from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. HC Wainwright set a $4.00 target price on shares of Plug Power and gave the company a “buy” rating in a research note on Wednesday, September 18th. Zacks Investment Research upgraded shares of Plug Power from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a research note on Tuesday, October 22nd. Finally, B. Riley set a $3.50 target price on shares of Plug Power and gave the company a “buy” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus 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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