Plug Power, Inc. (NASDAQ:PLUG) – Equities researchers at B. Riley reduced their FY2017 EPS estimates for shares of Plug Power in a research note issued on Thursday. B. Riley analyst C. Driscoll now forecasts that the electronics maker will earn ($0.56) per share for the year, down from their prior forecast of ($0.38). B. Riley has a “Buy” rating and a $3.50 price target on the stock. B. Riley also issued estimates for Plug Power’s Q4 2017 earnings at ($0.06) EPS, Q4 2018 earnings at ($0.04) EPS and FY2018 earnings at ($0.21) EPS.
Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Wednesday, November 8th. The electronics maker reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $61.43 million for the quarter, compared to analyst estimates of $54.57 million. Plug Power had a negative net margin of 96.27% and a negative return on equity of 83.93%. The company’s revenue for the quarter was up 249.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 earnings per share.
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Several other brokerages also recently commented on PLUG. Craig Hallum increased their price target on Plug Power from $3.00 to $4.00 and gave the company a “buy” rating in a report on Friday, October 6th. Zacks Investment Research upgraded Plug Power from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Cowen and Company reiterated a “buy” rating and set a $3.00 price target on shares of Plug Power in a report on Tuesday, October 17th. FBR & Co reiterated a “buy” rating on shares of Plug Power in a report on Tuesday, October 31st. Finally, HC Wainwright reiterated a “buy” rating and set a $4.00 price target on shares of Plug Power in a report on Thursday, November 9th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $3.03.
Plug Power (PLUG) opened at $2.28 on Monday. Plug Power has a 52-week low of $0.83 and a 52-week high of $3.21. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.29 and a quick ratio of 0.86.
In related news, Director George C. Mcnamee acquired 200,000 shares of the stock in a transaction dated Friday, September 15th. The shares were acquired at an average price of $2.20 per share, for a total transaction of $440,000.00. Following the completion of the purchase, the director now owns 486,131 shares in the company, valued at approximately $1,069,488.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. KBC Group NV grew its stake in shares of Plug Power by 34.9% in the third quarter. KBC Group NV now owns 162,549 shares of the electronics maker’s stock worth $424,000 after acquiring an additional 42,024 shares during the last quarter. EAM Investors LLC grew its stake in shares of Plug Power by 83.0% in the third quarter. EAM Investors LLC now owns 543,608 shares of the electronics maker’s stock worth $1,419,000 after acquiring an additional 246,620 shares during the last quarter. Swiss National Bank grew its stake in shares of Plug Power by 14.9% in the third quarter. Swiss National Bank now owns 373,700 shares of the electronics maker’s stock worth $975,000 after acquiring an additional 48,500 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Plug Power by 33.7% in the third quarter. State Board of Administration of Florida Retirement System now owns 105,167 shares of the electronics maker’s stock worth $274,000 after acquiring an additional 26,530 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Plug Power in the third quarter worth $783,000. Institutional investors and hedge funds own 23.70% of the company’s stock.
About Plug Power
Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.
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