Wall Street brokerages predict that Plug Power Inc. (NASDAQ:PLUG) will announce ($0.12) earnings per share for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Plug Power’s earnings, with estimates ranging from ($0.17) to ($0.07). Plug Power reported earnings of ($0.05) per share in the same quarter last year, which indicates a negative year over year growth rate of 140%. The company is scheduled to report its next quarterly earnings report on Thursday, February 24th.
According to Zacks, analysts expect that Plug Power will report full year earnings of ($0.60) per share for the current year, with EPS estimates ranging from ($0.65) to ($0.55). For the next year, analysts expect that the company will report earnings of ($0.25) per share, with EPS estimates ranging from ($0.48) to ($0.06). Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Plug Power.
PLUG has been the topic of a number of research analyst reports. Susquehanna initiated coverage on shares of Plug Power in a research report on Wednesday, January 26th. They set a “positive” rating and a $26.00 price objective on the stock. Morgan Stanley increased their target price on shares of Plug Power from $43.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 19th. Royal Bank of Canada reduced their target price on shares of Plug Power from $43.00 to $39.00 in a report on Thursday, January 20th. Wells Fargo & Company reduced their target price on shares of Plug Power from $40.00 to $26.00 in a report on Thursday, January 20th. Finally, Sumitomo Mitsui Financial Group started coverage on shares of Plug Power in a report on Thursday, November 4th. They issued an “outperform” rating and a $50.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $38.31.
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Several institutional investors have recently modified their holdings of the business. Comerica Bank raised its position in shares of Plug Power by 2.0% in the fourth quarter. Comerica Bank now owns 27,449 shares of the electronics maker’s stock worth $542,000 after acquiring an additional 541 shares during the period. Virtu Financial LLC raised its position in shares of Plug Power by 153.7% in the fourth quarter. Virtu Financial LLC now owns 125,731 shares of the electronics maker’s stock worth $3,549,000 after acquiring an additional 76,171 shares during the period. Kingsview Wealth Management LLC acquired a new position in shares of Plug Power in the fourth quarter worth about $355,000. Castleview Partners LLC acquired a new position in shares of Plug Power in the fourth quarter worth about $123,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Plug Power by 5.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 10,058 shares of the electronics maker’s stock worth $284,000 after acquiring an additional 488 shares during the period. Institutional investors and hedge funds own 49.21% of the company’s stock.
Shares of PLUG traded down $1.09 during mid-day trading on Friday, reaching $22.06. The company’s stock had a trading volume of 675,115 shares, compared to its average volume of 21,555,867. The company has a current ratio of 17.74, a quick ratio of 16.89 and a debt-to-equity ratio of 0.11. Plug Power has a 52 week low of $17.51 and a 52 week high of $57.78. The company’s fifty day moving average price is $24.94 and its two-hundred day moving average price is $29.21. The stock has a market cap of $12.71 billion, a PE ratio of -13.60 and a beta of 1.45.
Plug Power Company Profile
Plug Power, Inc provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses.
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