Plug Power, Inc. (PLUG) Expected to Announce Quarterly Sales of $54.39 Million
Brokerages forecast that Plug Power, Inc. (NASDAQ:PLUG) will announce $54.39 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Plug Power’s earnings. The highest sales estimate is $58.17 million and the lowest is $49.70 million. Plug Power reported sales of $17.56 million during the same quarter last year, which indicates a positive year-over-year growth rate of 209.7%. The business is scheduled to issue its next earnings report on Monday, November 6th.
On average, analysts expect that Plug Power will report full-year sales of $54.39 million for the current fiscal year, with estimates ranging from $130.10 million to $146.38 million. For the next financial year, analysts expect that the company will report sales of $226.32 million per share, with estimates ranging from $185.39 million to $285.25 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Plug Power.
Plug Power (NASDAQ:PLUG) last released its earnings results on Tuesday, August 8th. The electronics maker reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.03). Plug Power had a negative return on equity of 86.35% and a negative net margin of 112.95%. The business had revenue of $22.60 million for the quarter, compared to analysts’ expectations of $28.58 million. During the same period in the previous year, the company earned ($0.04) EPS. Plug Power’s quarterly revenue was up 10.5% compared to the same quarter last year.
A number of research analysts have recently weighed in on PLUG shares. Zacks Investment Research upgraded Plug Power from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Roth Capital restated a “sell” rating and issued a $1.30 price target on shares of Plug Power in a research report on Sunday, July 23rd. ValuEngine upgraded Plug Power from a “sell” rating to a “hold” rating in a research report on Friday, July 7th. FBR & Co restated an “outperform” rating and issued a $3.50 price target (up previously from $3.00) on shares of Plug Power in a research report on Tuesday, July 25th. Finally, HC Wainwright restated a “buy” rating and issued a $4.00 price target on shares of Plug Power in a research report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Plug Power presently has a consensus rating of “Hold” and an average price target of $2.83.
In related news, Director George C. Mcnamee acquired 200,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average price of $2.20 per share, for a total transaction of $440,000.00. Following the transaction, the director now owns 486,131 shares in the company, valued at approximately $1,069,488.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Plug Power by 30.6% in the 2nd quarter. Vanguard Group Inc. now owns 10,432,461 shares of the electronics maker’s stock worth $21,283,000 after buying an additional 2,444,005 shares during the last quarter. State Street Corp boosted its stake in Plug Power by 14.6% in the 2nd quarter. State Street Corp now owns 3,742,566 shares of the electronics maker’s stock worth $7,635,000 after buying an additional 477,438 shares during the last quarter. Northern Trust Corp boosted its stake in Plug Power by 39.5% in the 2nd quarter. Northern Trust Corp now owns 2,828,390 shares of the electronics maker’s stock worth $5,770,000 after buying an additional 800,320 shares during the last quarter. Geode Capital Management LLC boosted its stake in Plug Power by 30.4% in the 1st quarter. Geode Capital Management LLC now owns 1,750,660 shares of the electronics maker’s stock worth $2,415,000 after buying an additional 407,653 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Plug Power by 58.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,217,301 shares of the electronics maker’s stock worth $2,484,000 after buying an additional 448,639 shares during the last quarter. Hedge funds and other institutional investors own 23.49% of the company’s stock.
Shares of Plug Power (NASDAQ PLUG) traded up 4.05% on Tuesday, hitting $2.57. 5,289,837 shares of the stock traded hands. The company’s market cap is $577.56 million. Plug Power has a 12 month low of $0.83 and a 12 month high of $2.70. The firm’s 50 day moving average is $2.18 and its 200-day moving average is $2.00.
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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.
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