Equities research analysts forecast that Plug Power Inc (NASDAQ:PLUG) will report $104.46 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Plug Power’s earnings, with the highest sales estimate coming in at $106.00 million and the lowest estimate coming in at $103.39 million. Plug Power reported sales of $56.38 million during the same quarter last year, which would suggest a positive year over year growth rate of 85.3%. The firm is scheduled to announce its next earnings report on Thursday, November 5th.
According to Zacks, analysts expect that Plug Power will report full year sales of $302.73 million for the current fiscal year, with estimates ranging from $287.74 million to $321.00 million. For the next financial year, analysts expect that the business will post sales of $389.52 million, with estimates ranging from $340.00 million to $427.57 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Plug Power.
Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Thursday, August 6th. The electronics maker reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.07. Plug Power had a negative return on equity of 70.36% and a negative net margin of 33.33%. The business had revenue of $68.07 million during the quarter, compared to analyst estimates of $56.51 million. During the same period last year, the company earned ($0.08) EPS. The company’s revenue for the quarter was up 18.3% on a year-over-year basis.
PLUG has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on Plug Power from $8.50 to $9.50 and gave the company an “equal weight” rating in a report on Friday, August 14th. BidaskClub raised shares of Plug Power from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 19th. Odeon Capital Group started coverage on shares of Plug Power in a research report on Tuesday, August 18th. They issued a “buy” rating for the company. B. Riley raised their price target on shares of Plug Power from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Finally, Roth Capital raised their price target on shares of Plug Power from $6.00 to $12.00 in a research report on Wednesday, June 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Plug Power currently has an average rating of “Buy” and an average price target of $8.28.
Shares of NASDAQ PLUG opened at $12.94 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.89 and a debt-to-equity ratio of 2.27. The business has a fifty day simple moving average of $11.37 and a two-hundred day simple moving average of $6.72. The firm has a market cap of $5.20 billion, a PE ratio of -41.74 and a beta of 1.31. Plug Power has a twelve month low of $2.32 and a twelve month high of $14.35.
In other Plug Power news, CEO Andrew Marsh sold 961,059 shares of Plug Power stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $7.30, for a total transaction of $7,015,730.70. Following the sale, the chief executive officer now owns 254,978 shares of the company’s stock, valued at approximately $1,861,339.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Keith Schmid sold 169,379 shares of Plug Power stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $7.00, for a total transaction of $1,185,653.00. Following the sale, the chief operating officer now directly owns 238,399 shares in the company, valued at approximately $1,668,793. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,694,357 shares of company stock worth $34,279,663. 4.50% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Two Sigma Advisers LP acquired a new position in shares of Plug Power during the 2nd quarter valued at about $466,000. Two Sigma Securities LLC acquired a new position in shares of Plug Power during the 2nd quarter valued at about $122,000. Principal Financial Group Inc. boosted its position in shares of Plug Power by 86.1% during the 2nd quarter. Principal Financial Group Inc. now owns 53,537 shares of the electronics maker’s stock valued at $440,000 after acquiring an additional 24,763 shares during the last quarter. Quadrature Capital Ltd boosted its position in shares of Plug Power by 67.1% during the 2nd quarter. Quadrature Capital Ltd now owns 481,938 shares of the electronics maker’s stock valued at $3,957,000 after acquiring an additional 193,522 shares during the last quarter. Finally, Handelsbanken Fonder AB acquired a new position in shares of Plug Power during the 2nd quarter valued at about $9,854,000. 44.56% of the stock is currently owned by hedge funds and other institutional investors.
Plug Power Company Profile
Plug Power Inc, an alternative energy technology provider, engages in the design, development, manufacture, and commercialization 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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