Equities analysts expect Plug Power Inc. (NASDAQ:PLUG) to announce sales of $84.93 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Plug Power's earnings, with the lowest sales estimate coming in at $77.17 million and the highest estimate coming in at $94.00 million. Plug Power reported sales of $91.66 million in the same quarter last year, which indicates a negative year-over-year growth rate of 7.3%. The business is scheduled to announce its next earnings report before the market opens on Thursday, February 25th.
According to Zacks, analysts expect that Plug Power will report full-year sales of $300.47 million for the current year, with estimates ranging from $293.04 million to $310.00 million. For the next year, analysts expect that the business will report sales of $439.11 million, with estimates ranging from $390.00 million to $474.92 million. Zacks' sales averages are a mean average based on a survey of research analysts that follow Plug Power.
A number of equities research analysts have commented on PLUG shares. Roth Capital increased their target price on Plug Power from $22.00 to $30.00 and gave the company a "buy" rating in a report on Monday, November 30th. Cowen lifted their price objective on Plug Power from $35.00 to $50.00 and gave the stock an "outperform" rating in a research report on Thursday, January 7th. B. Riley upped their target price on shares of Plug Power from $79.00 to $83.00 in a report on Thursday, January 28th. Sanford C. Bernstein assumed coverage on shares of Plug Power in a report on Wednesday, February 3rd. They set an "outperform" rating and a $75.00 price target for the company. Finally, Truist upped their price objective on shares of Plug Power from $60.00 to $80.00 in a research note on Thursday, January 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. Plug Power has a consensus rating of "Buy" and a consensus price target of $48.62.
In other news, CFO Paul B. Middleton sold 216,667 shares of the firm's stock in a transaction dated Thursday, December 24th. The stock was sold at an average price of $35.13, for a total transaction of $7,611,511.71. Following the completion of the sale, the chief financial officer now directly owns 241,657 shares in the company, valued at $8,489,410.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Marsh sold 573,268 shares of Plug Power stock in a transaction dated Tuesday, January 19th. The stock was sold at an average price of $65.82, for a total value of $37,732,499.76. Following the sale, the chief executive officer now directly owns 855,280 shares in the company, valued at $56,294,529.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,065,525 shares of company stock valued at $54,740,531. Insiders own 4.50% of the company's stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Plug Power by 14.6% during the 4th quarter. BlackRock Inc. now owns 47,161,335 shares of the electronics maker's stock valued at $1,599,242,000 after buying an additional 6,007,080 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Plug Power by 252.5% during the 4th quarter. Alliancebernstein L.P. now owns 8,398,495 shares of the electronics maker's stock valued at $284,793,000 after acquiring an additional 6,015,971 shares during the last quarter. State Street Corp grew its holdings in Plug Power by 2.4% during the 3rd quarter. State Street Corp now owns 7,857,720 shares of the electronics maker's stock worth $105,372,000 after acquiring an additional 183,697 shares in the last quarter. Morgan Stanley grew its holdings in Plug Power by 1.3% during the 4th quarter. Morgan Stanley now owns 5,412,694 shares of the electronics maker's stock worth $183,546,000 after acquiring an additional 72,032 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Plug Power by 8.0% in the 4th quarter. Northern Trust Corp now owns 4,586,676 shares of the electronics maker's stock worth $155,534,000 after purchasing an additional 341,266 shares during the last quarter. Hedge funds and other institutional investors own 50.89% of the company's stock.
PLUG stock opened at $50.16 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.95 and a quick ratio of 2.44. Plug Power has a 12 month low of $2.53 and a 12 month high of $75.49. The firm has a market capitalization of $23.54 billion, a PE ratio of -152.00 and a beta of 1.81. The company's 50 day simple moving average is $60.98 and its 200-day simple moving average is $29.81.
Plug Power Company Profile
Plug Power Inc provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets 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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