Wall Street brokerages predict that Plug Power, Inc. (NASDAQ:PLUG) will post $54.39 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Plug Power’s earnings. The highest sales estimate is $58.17 million and the lowest is $49.70 million. Plug Power reported sales of $17.56 million in the same quarter last year, which indicates a positive year-over-year growth rate of 209.7%. The firm is expected to issue its next earnings results on Monday, November 6th.
On average, analysts expect that Plug Power will report full year sales of $54.39 million for the current financial year, with estimates ranging from $130.10 million to $146.38 million. For the next financial year, analysts expect that the company will post sales of $226.32 million per share, with estimates ranging from $185.39 million to $285.25 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Plug Power.
Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Tuesday, August 8th. The electronics maker reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.03. The company had revenue of $22.60 million for the quarter, compared to analyst estimates of $28.58 million. Plug Power had a negative return on equity of 86.35% and a negative net margin of 112.95%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) EPS.
Several brokerages have recently issued reports on PLUG. Rodman & Renshaw reaffirmed a “buy” rating and issued a $4.00 price target on shares of Plug Power in a research report on Monday, July 24th. Cowen and Company set a $3.00 price target on Plug Power and gave the company a “buy” rating in a research report on Monday, July 10th. BidaskClub raised Plug Power from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. ValuEngine downgraded Plug Power from a “hold” rating to a “sell” rating in a research report on Thursday, May 18th. Finally, Roth Capital reaffirmed a “sell” rating and issued a $1.30 price target on shares of Plug Power in a research report on Sunday, July 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $2.83.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLUG. Vanguard Group Inc. lifted its stake in shares of Plug Power by 30.6% in the second quarter. Vanguard Group Inc. now owns 10,432,461 shares of the electronics maker’s stock valued at $21,283,000 after buying an additional 2,444,005 shares during the period. Northern Trust Corp lifted its stake in shares of Plug Power by 39.5% in the second quarter. Northern Trust Corp now owns 2,828,390 shares of the electronics maker’s stock valued at $5,770,000 after buying an additional 800,320 shares during the period. State Street Corp lifted its stake in shares of Plug Power by 14.6% in the second quarter. State Street Corp now owns 3,742,566 shares of the electronics maker’s stock valued at $7,635,000 after buying an additional 477,438 shares during the period. Parametric Portfolio Associates LLC bought a new stake in shares of Plug Power in the first quarter valued at about $649,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Plug Power by 58.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,217,301 shares of the electronics maker’s stock valued at $2,484,000 after buying an additional 448,639 shares during the period. Institutional investors and hedge funds own 23.79% of the company’s stock.
Shares of Plug Power (NASDAQ PLUG) traded up 2.34% on Thursday, hitting $2.19. The company’s stock had a trading volume of 2,007,675 shares. The stock’s 50 day moving average price is $2.18 and its 200 day moving average price is $1.89. The stock’s market capitalization is $492.16 million. Plug Power has a 52 week low of $0.83 and a 52 week high of $2.70.
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About Plug Power
Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.
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