FY2017 Earnings Forecast for Plug Power, Inc. Issued By B. Riley (PLUG)

Plug Power, Inc. (NASDAQ:PLUG) – Research analysts at B. Riley lowered their FY2017 EPS estimates for shares of Plug Power in a research report issued to clients and investors on Thursday. B. Riley analyst C. Driscoll now expects that the electronics maker will earn ($0.56) per share for the year, down from their previous estimate 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 released its quarterly earnings data on Wednesday, November 8th. The electronics maker reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). Plug Power had a negative net margin of 96.27% and a negative return on equity of 83.93%. The business had revenue of $61.43 million for the quarter, compared to analyst estimates of $54.57 million. During the same period in the previous year, the firm earned $0.07 EPS. The business’s revenue for the quarter was up 249.0% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: “FY2017 Earnings Forecast for Plug Power, Inc. Issued By B. Riley (PLUG)” was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another website, it was stolen and republished in violation of US and international copyright laws. The legal version of this report can be viewed at https://ledgergazette.com/2017/11/13/fy2017-earnings-forecast-for-plug-power-inc-issued-by-b-riley-plug.html.

Several other equities research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Plug Power from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Roth Capital reiterated a “sell” rating and issued a $1.30 price objective on shares of Plug Power in a research report on Sunday, July 23rd. FBR & Co reiterated an “outperform” rating and issued a $3.50 price objective (up from $3.00) on shares of Plug Power in a research report on Tuesday, July 25th. Craig Hallum boosted their price objective on shares of Plug Power from $3.00 to $4.00 and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, Cowen and Company reiterated a “buy” rating and issued a $3.00 price objective on shares of Plug Power in a research report on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $3.03.

Shares of Plug Power (NASDAQ PLUG) opened at $2.55 on Monday. Plug Power has a 1 year low of $0.83 and a 1 year high of $3.21. The company has a current ratio of 1.29, a quick ratio of 0.68 and a debt-to-equity ratio of 0.62.

In other news, Director George C. Mcnamee bought 200,000 shares of Plug Power stock in a transaction on Friday, September 15th. The shares were bought at an average cost of $2.20 per share, for a total transaction of $440,000.00. Following the acquisition, the director now owns 486,131 shares in the company, valued at $1,069,488.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.90% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in PLUG. EAM Investors LLC lifted its holdings in shares of Plug Power by 83.0% during the 3rd 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 period. Swiss National Bank lifted its holdings in shares of Plug Power by 14.9% during the 3rd 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 period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Plug Power by 33.7% during the 3rd 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 period. NJ State Employees Deferred Compensation Plan purchased a new position in shares of Plug Power during the 3rd quarter worth about $783,000. Finally, New Jersey Better Educational Savings Trust purchased a new position in shares of Plug Power during the 3rd quarter worth about $444,000. Institutional investors own 23.68% of the company’s stock.

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.

Earnings History and Estimates for Plug Power (NASDAQ:PLUG)

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