Plug Power Inc. (NASDAQ:PLUG) – Research analysts at Craig Hallum dropped their FY2016 earnings per share estimates for shares of Plug Power in a report issued on Monday. Craig Hallum analyst E. Stine now forecasts that the firm will earn ($0.27) per share for the year, down from their previous estimate of ($0.26). Craig Hallum also issued estimates for Plug Power’s Q4 2016 earnings at ($0.06) EPS and FY2017 earnings at ($0.18) EPS.

Other research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Plug Power from a “sell” rating to a “hold” rating in a research note on Friday, July 29th. Roth Capital lifted their price target on shares of Plug Power from $1.75 to $2.00 and gave the company a “neutral” rating in a research report on Monday, August 15th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $3.00 price target on shares of Plug Power in a research report on Wednesday, July 20th.

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

Shares of Plug Power (NASDAQ:PLUG) opened at 1.35 on Thursday. Plug Power has a 12 month low of $1.18 and a 12 month high of $2.35. The stock’s market capitalization is $243.45 million. The firm’s 50-day moving average price is $1.58 and its 200-day moving average price is $1.70.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Monday, November 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.02. Plug Power had a negative net margin of 69.28% and a negative return on equity of 34.89%. The company had revenue of $17.60 million for the quarter, compared to analysts’ expectations of $34.84 million. During the same quarter last year, the company earned ($0.06) earnings per share. The company’s revenue for the quarter was down 43.9% on a year-over-year basis.

Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Plug Power by 1.2% in the second quarter. State Street Corp now owns 2,759,700 shares of the company’s stock worth $5,134,000 after buying an additional 31,380 shares during the last quarter. Teachers Advisors Inc. raised its stake in shares of Plug Power by 3.5% in the second quarter. Teachers Advisors Inc. now owns 311,512 shares of the company’s stock worth $579,000 after buying an additional 10,558 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Plug Power by 4.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,499,512 shares of the company’s stock worth $8,369,000 after buying an additional 210,460 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Plug Power by 6.4% in the second quarter. BlackRock Fund Advisors now owns 4,703,322 shares of the company’s stock worth $8,748,000 after buying an additional 282,421 shares during the last quarter. Finally, BlackRock Investment Management LLC raised its stake in shares of Plug Power by 11.9% in the second quarter. BlackRock Investment Management LLC now owns 706,756 shares of the company’s stock worth $1,315,000 after buying an additional 75,270 shares during the last quarter. 18.15% of the stock is currently owned by hedge funds and other institutional investors.

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.

5 Day Chart for NASDAQ:PLUG

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