Wall Street analysts expect that Plug Power Inc (NASDAQ:PLUG) will post $35.90 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Plug Power’s earnings. The lowest sales estimate is $30.89 million and the highest is $47.90 million. Plug Power posted sales of $32.58 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.2%. The company is scheduled to report its next quarterly earnings report on Thursday, March 8th.
On average, analysts expect that Plug Power will report full-year sales of $35.90 million for the current year, with estimates ranging from $119.30 million to $151.52 million. For the next year, analysts forecast that the firm will report sales of $223.23 million per share, with estimates ranging from $173.54 million to $285.20 million. Zacks’ sales averages are an average based on a survey of research firms that cover Plug Power.
Several brokerages have issued reports on PLUG. B. Riley restated a “buy” rating on shares of Plug Power in a research report on Wednesday, November 1st. Zacks Investment Research upgraded Plug Power from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Cowen restated a “buy” rating and set a $3.00 target price on shares of Plug Power in a research report on Tuesday, October 17th. FBR & Co restated a “buy” rating on shares of Plug Power in a research report on Tuesday, October 31st. Finally, HC Wainwright restated a “buy” rating and set a $4.00 target price on shares of Plug Power in a research report on Thursday, November 9th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $3.28.
Large investors have recently made changes to their positions in the business. Archford Capital Strategies LLC boosted its position in shares of Plug Power by 20,422.2% during the second quarter. Archford Capital Strategies LLC now owns 1,847 shares of the electronics maker’s stock valued at $115,000 after buying an additional 1,838 shares during the period. Adalta Capital Management LLC purchased a new stake in shares of Plug Power in the second quarter valued at approximately $106,000. Teacher Retirement System of Texas boosted its holdings in shares of Plug Power by 315.6% in the fourth quarter. Teacher Retirement System of Texas now owns 75,409 shares of the electronics maker’s stock valued at $178,000 after purchasing an additional 57,263 shares during the period. Virtu KCG Holdings LLC boosted its holdings in shares of Plug Power by 126.4% in the second quarter. Virtu KCG Holdings LLC now owns 92,497 shares of the electronics maker’s stock valued at $189,000 after purchasing an additional 51,638 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Plug Power by 33.7% in the third quarter. State Board of Administration of Florida Retirement System now owns 105,167 shares of the electronics maker’s stock valued at $274,000 after purchasing an additional 26,530 shares during the period. Institutional investors and hedge funds own 24.44% of the company’s stock.
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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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