Equities research analysts expect Plug Power Inc (NASDAQ:PLUG) to announce sales of $104.46 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Plug Power's earnings. The lowest sales estimate is $103.39 million and the highest is $106.00 million. Plug Power posted sales of $56.38 million during the same quarter last year, which would indicate a positive year over year growth rate of 85.3%. The business is scheduled to report 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 financial year, with estimates ranging from $287.74 million to $321.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $389.52 million, with estimates ranging from $340.00 million to $427.57 million. Zacks' sales averages are an average based on a survey of research firms that cover Plug Power.
Plug Power (NASDAQ:PLUG) last announced its earnings results on Thursday, August 6th. The electronics maker reported ($0.03) EPS for the quarter, beating the Zacks' consensus estimate of ($0.10) by $0.07. Plug Power had a negative net margin of 33.33% and a negative return on equity of 70.36%. The business had revenue of $68.07 million during the quarter, compared to analysts' expectations of $56.51 million. During the same period in the prior year, the company earned ($0.08) earnings per share. The firm's revenue was up 18.3% on a year-over-year basis.
PLUG has been the subject of several recent analyst reports. B. Riley upped their target price on shares of Plug Power from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, June 24th. BidaskClub raised Plug Power from a "buy" rating to a "strong-buy" rating in a report on Wednesday, August 19th. Odeon Capital Group started coverage on Plug Power in a report on Tuesday, August 18th. They set a "buy" rating on the stock. HC Wainwright reissued a "buy" rating and set a $14.00 price target on shares of Plug Power in a report on Thursday, July 16th. Finally, ValuEngine raised Plug Power from a "hold" rating to a "buy" rating in a report on Monday, August 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of "Buy" and a consensus target price of $8.28.
In related news, SVP Gerard L. Conway, Jr. sold 291,000 shares of Plug Power stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $7.94, for a total value of $2,310,540.00. Following the completion of the transaction, the senior vice president now owns 51,519 shares in the company, valued at $409,060.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Marsh sold 961,059 shares of Plug Power stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $7.30, for a total value of $7,015,730.70. Following the completion of the transaction, the chief executive officer now owns 254,978 shares of the company's stock, valued at approximately $1,861,339.40. The disclosure for this sale can be found here. Insiders sold 3,694,357 shares of company stock worth $34,279,663 over the last ninety days. Insiders own 4.50% of the company's stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Plug Power by 27.3% in the first quarter. BlackRock Inc. now owns 27,423,760 shares of the electronics maker's stock worth $97,080,000 after acquiring an additional 5,883,362 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Plug Power by 7.6% during the second quarter. Vanguard Group Inc. now owns 16,280,446 shares of the electronics maker's stock valued at $133,663,000 after buying an additional 1,148,302 shares during the period. State Street Corp boosted its position in shares of Plug Power by 30.1% during the first quarter. State Street Corp now owns 6,707,954 shares of the electronics maker's stock valued at $23,746,000 after buying an additional 1,551,234 shares during the period. Pinnacle Associates Ltd. boosted its position in shares of Plug Power by 25.2% during the second quarter. Pinnacle Associates Ltd. now owns 6,087,600 shares of the electronics maker's stock valued at $49,979,000 after buying an additional 1,225,764 shares during the period. Finally, Robecosam AG purchased a new position in shares of Plug Power during the second quarter valued at approximately $32,922,000. Institutional investors own 44.56% of the company's stock.
Shares of PLUG stock opened at $12.94 on Thursday. The company has a 50 day simple moving average of $11.37 and a two-hundred day simple moving average of $6.72. The company has a current ratio of 1.89, a quick ratio of 1.34 and a debt-to-equity ratio of 2.27. The stock has a market cap of $5.20 billion, a P/E ratio of -41.74 and a beta of 1.31. Plug Power has a 12 month low of $2.32 and a 12 month high of $14.35.
About Plug Power
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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