Brokerages expect that Plug Power Inc (NASDAQ:PLUG) will announce earnings of ($0.05) per share for the current quarter, Zacks reports. Four analysts have made estimates for Plug Power’s earnings, with estimates ranging from ($0.09) to $0.02. Plug Power posted earnings of ($0.08) per share during the same quarter last year, which indicates a positive year over year growth rate of 37.5%. The firm is expected to issue its next quarterly earnings results on Thursday, March 5th.
On average, analysts expect that Plug Power will report full year earnings of ($0.35) per share for the current financial year, with EPS estimates ranging from ($0.40) to ($0.21). For the next year, analysts forecast that the firm will report earnings of ($0.19) per share, with EPS estimates ranging from ($0.37) to $0.06. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Plug Power.
Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Thursday, November 7th. The electronics maker reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). Plug Power had a negative net margin of 47.21% and a negative return on equity of 6,429.00%. The business had revenue of $56.38 million for the quarter, compared to the consensus estimate of $55.58 million. During the same period in the previous year, the firm earned ($0.07) EPS. The company’s revenue was up 6.0% on a year-over-year basis.
A number of brokerages have recently issued reports on PLUG. Roth Capital raised shares of Plug Power from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $3.00 to $6.00 in a research report on Monday, November 11th. B. Riley reissued a “buy” rating and set a $6.00 price objective (up previously from $3.50) on shares of Plug Power in a research report on Monday, November 25th. ValuEngine downgraded shares of Plug Power from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. BidaskClub raised shares of Plug Power from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Cowen set a $3.00 target price on shares of Plug Power and gave the stock a “buy” rating in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Plug Power has an average rating of “Buy” and a consensus target price of $4.50.
Shares of PLUG stock opened at $4.14 on Thursday. Plug Power has a 1 year low of $1.31 and a 1 year high of $4.20. The firm has a fifty day moving average price of $3.33 and a 200-day moving average price of $2.71.
In related news, VP Gerard L. Conway, Jr. sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $3.50, for a total value of $350,000.00. Following the completion of the transaction, the vice president now owns 146,295 shares of the company’s stock, valued at approximately $512,032.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.00% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC lifted its stake in Plug Power by 55.1% in the 2nd quarter. Private Advisor Group LLC now owns 15,850 shares of the electronics maker’s stock worth $36,000 after purchasing an additional 5,633 shares in the last quarter. SG Americas Securities LLC lifted its stake in Plug Power by 35.6% in the 3rd quarter. SG Americas Securities LLC now owns 17,101 shares of the electronics maker’s stock worth $45,000 after purchasing an additional 4,494 shares in the last quarter. Alpine Woods Capital Investors LLC lifted its stake in Plug Power by 100.0% in the 3rd quarter. Alpine Woods Capital Investors LLC now owns 40,000 shares of the electronics maker’s stock worth $105,000 after purchasing an additional 20,000 shares in the last quarter. Squarepoint Ops LLC lifted its stake in Plug Power by 99.0% in the 3rd quarter. Squarepoint Ops LLC now owns 73,165 shares of the electronics maker’s stock worth $192,000 after purchasing an additional 36,405 shares in the last quarter. Finally, Balyasny Asset Management LLC purchased a new stake in Plug Power in the 2nd quarter worth $504,000. 32.12% of the stock is owned by institutional investors.
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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