Wall Street analysts expect Plug Power Inc (NASDAQ:PLUG) to report sales of $90.32 million for the current quarter, Zacks reports. Four analysts have provided estimates for Plug Power’s earnings, with the lowest sales estimate coming in at $87.80 million and the highest estimate coming in at $92.20 million. Plug Power reported sales of $59.82 million in the same quarter last year, which indicates a positive year over year growth rate of 51%. The company is expected to report its next quarterly earnings report on Thursday, March 5th.
On average, analysts expect that Plug Power will report full-year sales of $225.99 million for the current year, with estimates ranging from $219.90 million to $240.53 million. For the next financial year, analysts expect that the business will post sales of $300.78 million, with estimates ranging from $272.00 million to $398.57 million. Zacks Investment Research’s sales 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 results 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 analysts’ expectations of $55.58 million. During the same period last year, the business earned ($0.07) earnings per share. The company’s revenue was up 6.0% on a year-over-year basis.
Several research firms have recently issued reports on PLUG. Roth Capital upgraded shares of Plug Power from a “neutral” rating to a “buy” rating and lifted their target price for the company from $3.00 to $6.00 in a report on Monday, November 11th. Zacks Investment Research downgraded Plug Power from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. HC Wainwright set a $4.00 price objective on Plug Power and gave the company a “buy” rating in a research report on Wednesday, September 18th. B. Riley reiterated a “buy” rating and set a $6.00 price objective (up previously from $3.50) on shares of Plug Power in a research note on Monday, November 25th. Finally, Cowen set a $3.00 target price on Plug Power and gave the stock a “buy” rating in a report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Plug Power has an average rating of “Buy” and a consensus price target of $4.50.
A number of hedge funds and other institutional investors have recently made changes to their positions in PLUG. SG Americas Securities LLC increased its holdings in shares of 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. Private Advisor Group LLC boosted its position in shares of Plug Power by 55.1% during the second quarter. Private Advisor Group LLC now owns 15,850 shares of the electronics maker’s stock valued at $36,000 after buying an additional 5,633 shares during the last quarter. First Trust Advisors LP increased its holdings in Plug Power by 3.8% in the 1st quarter. First Trust Advisors LP now owns 227,250 shares of the electronics maker’s stock worth $545,000 after buying an additional 8,331 shares in the last quarter. Swiss National Bank increased its holdings in Plug Power by 2.1% in the 2nd quarter. Swiss National Bank now owns 434,200 shares of the electronics maker’s stock worth $977,000 after buying an additional 8,900 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in Plug Power by 4.1% in the 3rd quarter. California State Teachers Retirement System now owns 367,851 shares of the electronics maker’s stock worth $967,000 after buying an additional 14,412 shares during the last quarter. Institutional investors own 32.12% of the company’s stock.
PLUG traded up $0.01 during midday trading on Thursday, reaching $2.94. The company’s stock had a trading volume of 10,788,076 shares, compared to its average volume of 12,191,018. Plug Power has a 1 year low of $0.99 and a 1 year high of $4.04. The stock’s 50-day moving average is $3.23 and its 200-day moving average is $2.62.
Plug Power Company Profile
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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