Analysts Expect Plug Power Inc (NASDAQ:PLUG) Will Post Quarterly Sales of $57.44 Million

Equities analysts expect that Plug Power Inc (NASDAQ:PLUG) will announce $57.44 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Plug Power’s earnings, with the highest sales estimate coming in at $59.60 million and the lowest estimate coming in at $54.19 million. Plug Power posted sales of $57.07 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.6%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, August 4th.

According to Zacks, analysts expect that Plug Power will report full-year sales of $279.10 million for the current fiscal year, with estimates ranging from $264.79 million to $286.72 million. For the next fiscal year, analysts anticipate that the business will report sales of $372.62 million, with estimates ranging from $340.00 million to $397.51 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Plug Power.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Thursday, May 7th. The electronics maker reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The business had revenue of $40.81 million for the quarter, compared to analyst estimates of $33.17 million. Plug Power had a negative net margin of 38.85% and a negative return on equity of 169.08%.

Several analysts have recently weighed in on PLUG shares. Roth Capital raised their target price on Plug Power from $6.00 to $12.00 in a research note on Wednesday. Oppenheimer restated a “buy” rating and set a $6.00 target price on shares of Plug Power in a research note on Thursday, May 14th. ValuEngine upgraded Plug Power from a “hold” rating to a “buy” rating in a research note on Wednesday, March 18th. HC Wainwright raised their target price on Plug Power from $6.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, BidaskClub raised shares of Plug Power from a “hold” rating to a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Plug Power currently has an average rating of “Buy” and a consensus target price of $7.56.

In other Plug Power news, Director Maureen O. Helmer sold 115,000 shares of Plug Power stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $4.29, for a total transaction of $493,350.00. Following the completion of the sale, the director now owns 349,306 shares of the company’s stock, valued at approximately $1,498,522.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Maureen O. Helmer sold 150,164 shares of Plug Power stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $6.29, for a total transaction of $944,531.56. Following the sale, the director now directly owns 248,313 shares of the company’s stock, valued at approximately $1,561,888.77. The disclosure for this sale can be found here. Insiders have sold a total of 2,845,708 shares of company stock valued at $16,652,960 in the last three months. Company insiders own 4.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in PLUG. BlackRock Inc. lifted its stake in shares of Plug Power by 27.3% in the 1st quarter. BlackRock Inc. now owns 27,423,760 shares of the electronics maker’s stock valued at $97,080,000 after purchasing an additional 5,883,362 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Plug Power in the 1st quarter valued at $10,773,000. Pinnacle Associates Ltd. lifted its stake in shares of Plug Power by 80.9% in the 1st quarter. Pinnacle Associates Ltd. now owns 4,861,836 shares of the electronics maker’s stock valued at $17,211,000 after purchasing an additional 2,174,013 shares during the last quarter. State Street Corp lifted its stake in shares of Plug Power by 30.1% in the 1st quarter. State Street Corp now owns 6,707,954 shares of the electronics maker’s stock valued at $23,746,000 after purchasing an additional 1,551,234 shares during the last quarter. Finally, EAM Investors LLC acquired a new stake in shares of Plug Power in the 4th quarter valued at $3,147,000. 43.76% of the stock is owned by institutional investors and hedge funds.

Shares of Plug Power stock traded down $0.52 during trading hours on Friday, hitting $6.83. 26,510,001 shares of the company’s stock traded hands, compared to its average volume of 23,449,060. The stock has a 50 day simple moving average of $4.77 and a 200-day simple moving average of $4.11. The company has a quick ratio of 1.21, a current ratio of 1.83 and a debt-to-equity ratio of 4.25. The company has a market cap of $2.38 billion, a PE ratio of -18.97 and a beta of 1.19. Plug Power has a twelve month low of $1.88 and a twelve month high of $7.81.

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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