Plug Power (NASDAQ:PLUG) posted its quarterly earnings results on Thursday. The electronics maker reported ($0.09) earnings per share for the quarter, missing the 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 business had revenue of $56.38 million for the quarter, compared to analyst estimates of $55.58 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis.
PLUG stock traded up $0.07 during mid-day trading on Friday, hitting $2.73. The stock had a trading volume of 2,338,600 shares, compared to its average volume of 4,178,701. The company has a fifty day moving average of $2.74 and a 200 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 stock has a market capitalization of $697.94 million, a price-to-earnings ratio of -7.58 and a beta of 1.45.
Several research analysts have weighed in on the company. ValuEngine raised Plug Power from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. B. Riley set a $3.50 target price on Plug Power and gave the stock a “buy” rating in a research report on Thursday, September 26th. Zacks Investment Research raised Plug Power from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a research report on Tuesday, October 22nd. Cowen set a $3.00 target price on Plug Power and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, HC Wainwright set a $4.00 target price on Plug Power and gave the stock 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 issued a buy rating to the stock. Plug Power 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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