Plug Power (NASDAQ:PLUG) released its earnings results on Thursday. The electronics maker reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01, MarketWatch Earnings reports. Plug Power had a negative return on equity of 108.78% and a negative net margin of 66.16%. The company had revenue of $55.30 million during the quarter, compared to analyst estimates of $50.44 million. During the same quarter in the previous year, the company posted ($0.06) EPS. Plug Power’s revenue for the quarter was down 10.0% on a year-over-year basis.

PLUG traded down $0.07 during midday trading on Friday, reaching $1.87. 2,939,216 shares of the company’s stock traded hands, compared to its average volume of 2,178,950. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 4.16. Plug Power has a 52 week low of $1.53 and a 52 week high of $2.62.

PLUG has been the subject of a number of recent research reports. BidaskClub raised Plug Power from a “hold” rating to a “buy” rating in a research note on Saturday, July 14th. ValuEngine raised Plug Power from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. Zacks Investment Research lowered Plug Power from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. HC Wainwright set a $4.00 target price on Plug Power and gave the company a “buy” rating in a research note on Friday, August 10th. Finally, B. Riley set a $4.00 target price on Plug Power and gave the company a “buy” rating in a research note on Friday, August 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $3.29.

In other Plug Power news, insider Gerard L. Conway, Jr. sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $1.86, for a total transaction of $186,000.00. Following the completion of the transaction, the insider now owns 110,519 shares of the company’s stock, valued at approximately $205,565.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory B. Graves sold 31,343 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $1.73, for a total value of $54,223.39. Following the transaction, the director now directly owns 43,296 shares of the company’s stock, valued at approximately $74,902.08. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.

Several large investors have recently made changes to their positions in PLUG. Northern Trust Corp raised its position in shares of Plug Power by 1.3% in the 1st quarter. Northern Trust Corp now owns 2,649,873 shares of the electronics maker’s stock worth $5,008,000 after acquiring an additional 33,445 shares in the last quarter. BlackRock Inc. raised its position in shares of Plug Power by 1.0% in the 1st quarter. BlackRock Inc. now owns 14,499,641 shares of the electronics maker’s stock worth $27,404,000 after acquiring an additional 142,606 shares in the last quarter. UBS Group AG raised its position in shares of Plug Power by 122.6% in the 1st quarter. UBS Group AG now owns 150,221 shares of the electronics maker’s stock worth $284,000 after acquiring an additional 82,741 shares in the last quarter. LPL Financial LLC bought a new position in shares of Plug Power in the 1st quarter worth approximately $270,000. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Plug Power by 183.4% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 73,495 shares of the electronics maker’s stock worth $148,000 after acquiring an additional 47,559 shares in the last quarter. 30.51% of the stock is owned by hedge funds and other institutional investors.

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About Plug Power

Plug Power Inc, an alternative energy technology provider, engages in the design, development, commercialization, and manufacture 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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Earnings History for Plug Power (NASDAQ:PLUG)

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