Plug Power (NASDAQ:PLUG) released its earnings results on Thursday. The electronics maker reported ($0.09) earnings per share 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 for the quarter, compared to analyst estimates of $55.58 million. Plug Power had a negative return on equity of 6,435.09% and a negative net margin of 44.51%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) EPS.
Shares of 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. Plug Power has a one year low of $0.99 and a one year high of $3.14. The company’s 50 day moving average price is $2.74 and its two-hundred day moving average price is $2.45. The firm has a market capitalization of $697.94 million, a price-to-earnings ratio of -7.58 and a beta of 1.45.
A number of research firms have weighed in on PLUG. ValuEngine raised shares of Plug Power from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Cowen set a $3.00 target price on shares of Plug Power and gave the stock a “buy” rating in a research report on Tuesday, September 17th. B. Riley set a $3.50 target price on shares of Plug Power and gave the stock a “buy” rating in a research report on Thursday, September 26th. BidaskClub lowered shares of Plug Power from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Zacks Investment Research raised shares of Plug Power from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target 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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