Plug Power (NASDAQ:PLUG) Announces Quarterly Earnings Results

Plug Power (NASDAQ:PLUG) posted 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), reports. The company had revenue of $56.38 million for 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 revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company posted ($0.07) earnings per share.

Shares of NASDAQ:PLUG traded up $0.07 on Friday, reaching $2.73. 2,338,600 shares of the company traded hands, compared to its average volume of 4,178,701. The stock has a market capitalization of $697.94 million, a PE ratio of -7.58 and a beta of 1.45. Plug Power has a fifty-two week low of $0.99 and a fifty-two week high of $3.14. The company’s 50 day moving average is $2.74 and its 200-day moving average is $2.45.

Several research firms have recently commented on PLUG. B. Riley set a $3.50 target price on Plug Power and gave the company a “buy” rating in a report on Thursday, September 26th. ValuEngine raised Plug Power from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. BidaskClub downgraded Plug Power from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Zacks Investment Research upgraded Plug Power from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a research report on Tuesday, October 22nd. Finally, 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Plug Power has a consensus rating of “Buy” and a consensus target price 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.

See Also: Initial Coin Offering (ICO)

Earnings History for Plug Power (NASDAQ:PLUG)

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