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

Wall Street brokerages expect Plug Power Inc (NASDAQ:PLUG) to announce $57.44 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Plug Power’s earnings. The highest sales estimate is $59.60 million and the lowest is $54.19 million. Plug Power reported sales of $57.07 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 0.6%. The company is expected to issue its next quarterly earnings results 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 expect that the business will post sales of $372.62 million, with estimates ranging from $340.00 million to $397.51 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Plug Power.

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

A number of research firms have weighed in on PLUG. HC Wainwright raised their price objective on shares of Plug Power from $6.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday. Roth Capital raised their price objective on shares of Plug Power from $6.00 to $12.00 in a report on Wednesday. BidaskClub upgraded shares of Plug Power from a “hold” rating to a “buy” rating in a research report on Friday. Oppenheimer restated a “buy” rating and set a $6.00 target price on shares of Plug Power in a research report on Thursday, May 14th. Finally, B. Riley raised their target price on shares of Plug Power from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $7.56.

PLUG stock traded down $0.52 during midday trading on Friday, reaching $6.83. 26,510,001 shares of the company were exchanged, compared to its average volume of 23,449,060. The company has a debt-to-equity ratio of 4.25, a quick ratio of 1.21 and a current ratio of 1.83. Plug Power has a 1-year low of $1.88 and a 1-year high of $7.81. The stock’s 50-day simple moving average is $4.77 and its 200 day simple moving average is $4.11. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -18.97 and a beta of 1.19.

In related news, Director Fivet Capital Holding Ag sold 398,950 shares of Plug Power stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $4.33, for a total value of $1,727,453.50. Following the transaction, the director now directly owns 210,115 shares in the company, valued at approximately $909,797.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Gerard L. Conway, Jr. sold 35,776 shares of Plug Power stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $5.00, for a total transaction of $178,880.00. Following the completion of the transaction, the senior vice president now owns 10,519 shares in the company, valued at $52,595. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,845,708 shares of company stock worth $16,652,960. 4.50% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in 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 buying an additional 5,883,362 shares during the last quarter. State Street Corp grew its position in 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 buying an additional 1,551,234 shares during the last quarter. KAMES CAPITAL plc grew its position in Plug Power by 3.0% in the 1st quarter. KAMES CAPITAL plc now owns 6,027,254 shares of the electronics maker’s stock valued at $21,276,000 after buying an additional 175,792 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in shares of Plug Power by 80.9% during the 1st quarter. Pinnacle Associates Ltd. now owns 4,861,836 shares of the electronics maker’s stock worth $17,211,000 after purchasing an additional 2,174,013 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Plug Power during the 1st quarter worth $10,773,000. Hedge funds and other institutional investors own 43.76% of the company’s stock.

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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