Plug Power Inc (NASDAQ:PLUG) – Analysts at B. Riley lowered their Q1 2018 earnings per share estimates for Plug Power in a note issued to investors on Thursday. B. Riley analyst C. Driscoll now forecasts that the electronics maker will post earnings per share of ($0.10) for the quarter, down from their previous forecast of ($0.09). B. Riley currently has a “Buy” rating on the stock. B. Riley also issued estimates for Plug Power’s FY2018 earnings at ($0.29) EPS and FY2019 earnings at ($0.17) EPS.
PLUG has been the subject of several other reports. BidaskClub downgraded shares of Plug Power from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 10th. Zacks Investment Research downgraded shares of Plug Power from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Canaccord Genuity set a $5.00 price target on shares of Plug Power and gave the stock a “buy” rating in a research note on Wednesday, March 7th. HC Wainwright set a $4.00 price target on shares of Plug Power and gave the stock a “buy” rating in a research note on Thursday. Finally, ValuEngine downgraded shares of Plug Power from a “hold” rating to a “sell” rating in a research note on Monday, December 4th. Four analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $3.48.
Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Wednesday, March 7th. The electronics maker reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). Plug Power had a negative net margin of 96.94% and a negative return on equity of 91.39%. The business had revenue of $33.70 million during the quarter, compared to analysts’ expectations of $31.03 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The firm’s quarterly revenue was up 3.4% on a year-over-year basis.
Several large investors have recently modified their holdings of PLUG. MetLife Investment Advisors LLC bought a new position in shares of Plug Power during the fourth quarter valued at about $127,000. Teacher Retirement System of Texas lifted its stake in shares of Plug Power by 315.6% in the 4th quarter. Teacher Retirement System of Texas now owns 75,409 shares of the electronics maker’s stock valued at $178,000 after purchasing an additional 57,263 shares during the period. Voya Investment Management LLC lifted its stake in shares of Plug Power by 23.2% in the 2nd quarter. Voya Investment Management LLC now owns 105,772 shares of the electronics maker’s stock valued at $216,000 after purchasing an additional 19,904 shares during the period. Nationwide Fund Advisors lifted its stake in shares of Plug Power by 8.4% in the 2nd quarter. Nationwide Fund Advisors now owns 127,090 shares of the electronics maker’s stock valued at $259,000 after purchasing an additional 9,865 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Plug Power by 33.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 105,167 shares of the electronics maker’s stock valued at $274,000 after purchasing an additional 26,530 shares during the period. 26.83% of the stock is owned by hedge funds and other institutional investors.
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Plug Power Company Profile
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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