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

Plug Power (NASDAQ:PLUG) released its quarterly earnings data on Thursday. The electronics maker reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02), Briefing.com reports. The company had revenue of $56.38 million during the quarter, compared to analyst estimates 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 company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.07) EPS.

Plug Power stock traded up $0.07 during mid-day trading on Friday, hitting $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 fifty-two week low of $0.99 and a fifty-two week 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. The firm has a 50 day simple moving average of $2.74 and a two-hundred day simple moving average of $2.45.

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

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Earnings History for Plug Power (NASDAQ:PLUG)

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