Plug Power (NASDAQ:PLUG) issued its quarterly 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. Plug Power had a negative return on equity of 6,435.09% and a negative net margin of 44.51%. The business had revenue of $56.38 million for the quarter, compared to analysts’ expectations of $55.58 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. Plug Power’s revenue was up 6.0% on a year-over-year basis.
Shares of Plug Power stock traded up $0.07 on Friday, reaching $2.73. 2,338,600 shares of the stock were exchanged, compared to its average volume of 4,178,701. The business has a 50 day moving average price of $2.74 and a two-hundred day moving average price of $2.45. Plug Power has a twelve month low of $0.99 and a twelve month high of $3.14. 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 equities research analysts have recently weighed in on the company. HC Wainwright set a $4.00 price target on Plug Power and gave the stock a “buy” rating in a research note on Wednesday, September 18th. B. Riley set a $3.50 target price on Plug Power and gave the stock a “buy” rating in a report on Thursday, September 26th. Cowen set a $3.00 target price on Plug Power and gave the stock a “buy” rating in a report on Tuesday, September 17th. ValuEngine raised Plug Power from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, Zacks Investment Research raised Plug Power from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a report on Tuesday, October 22nd. Two investment 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 a consensus 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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