Plug Power (PLUG) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS
Plug Power (NASDAQ:PLUG) posted its quarterly earnings results on Wednesday. The company reported ($0.06) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.05) by $0.01, Stock Ratings News reports. The company had revenue of $5.60 million for the quarter, compared to the consensus estimate of $5.35 million.
Shares of Plug Power (NASDAQ:PLUG) opened at 4.09 on Wednesday. Plug Power has a 52 week low of $0.22 and a 52 week high of $11.72. The stock has a 50-day moving average of $6.04 and a 200-day moving average of $3.73. The company’s market cap is $588.8 million. Plug Power also saw a significant drop in short interest in April. As of April 30th, there was short interest totalling 26,059,731 shares, a drop of 12.3% from the April 15th total of 29,729,580 shares. Based on an average trading volume of 31,046,779 shares, the short-interest ratio is currently 0.8 days. Approximately 26.0% of the company’s stock are short sold.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Plug Power from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 10th. They now have a $7.90 price target on the stock. On the ratings front, analysts at Cowen and Company downgraded shares of Plug Power from an “outperform” rating to a “market perform” rating in a research note on Friday, March 14th. They now have a $7.50 price target on the stock, up previously from $5.50. They noted that the move was a valuation call. Finally, analysts at Roth Capital downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a research note on Friday, March 14th. They now have a $8.00 price target on the stock, up previously from $0.80. They noted that the move was a valuation call.
Plug Power Inc (NASDAQ:PLUG), is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of fuel cell systems for the industrial off-road (forklift or material handling) market.
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