Analysts expect Plug Power Inc (NASDAQ:PLUG) to report $49.70 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Plug Power’s earnings, with the lowest sales estimate coming in at $46.12 million and the highest estimate coming in at $52.00 million. Plug Power reported sales of $39.93 million during the same quarter last year, which indicates a positive year over year growth rate of 24.5%. The firm is expected to issue its next earnings results on Thursday, August 8th.
According to Zacks, analysts expect that Plug Power will report full year sales of $220.74 million for the current fiscal year, with estimates ranging from $199.42 million to $242.28 million. For the next fiscal year, analysts forecast that the company will post sales of $295.12 million, with estimates ranging from $259.26 million to $373.34 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Plug Power.
Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Wednesday, May 8th. The electronics maker reported ($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.07). The firm had revenue of $18.60 million for the quarter, compared to the consensus estimate of $32.17 million. Plug Power had a negative return on equity of 802.38% and a negative net margin of 53.11%. The business’s revenue was down 29.5% on a year-over-year basis. During the same period last year, the company posted ($0.07) EPS.
A number of equities analysts recently issued reports on the stock. ValuEngine upgraded shares of Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. BidaskClub downgraded Xperi from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 19th. Finally, Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Plug Power has a consensus rating of “Buy” and an average target price of $2.58.
PLUG stock traded down $0.02 during trading on Friday, reaching $2.31. 2,466,701 shares of the company were exchanged, compared to its average volume of 4,333,288. The business’s 50-day moving average is $2.40. The company has a market capitalization of $564.44 million, a P/E ratio of -6.39 and a beta of 1.42. Plug Power has a twelve month low of $0.99 and a twelve month high of $2.87. The company has a debt-to-equity ratio of 66.88, a current ratio of 1.88 and a quick ratio of 1.14.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in shares of Plug Power by 12.1% in the fourth quarter. BlackRock Inc. now owns 16,527,822 shares of the electronics maker’s stock valued at $20,494,000 after buying an additional 1,786,566 shares during the period. Odey Asset Management Group Ltd increased its holdings in shares of Plug Power by 11.7% during the fourth quarter. Odey Asset Management Group Ltd now owns 5,486,413 shares of the electronics maker’s stock worth $6,803,000 after buying an additional 576,413 shares in the last quarter. KAMES CAPITAL plc acquired a new stake in shares of Plug Power during the second quarter worth approximately $10,731,000. Northern Trust Corp increased its holdings in shares of Plug Power by 0.6% during the fourth quarter. Northern Trust Corp now owns 2,632,446 shares of the electronics maker’s stock worth $3,264,000 after buying an additional 16,140 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Plug Power by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 2,481,356 shares of the electronics maker’s stock worth $3,076,000 after buying an additional 152,681 shares in the last quarter. 33.28% of the stock is currently owned by hedge funds and other institutional investors.
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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