Plug Power Inc (PLUG) Expected to Announce Quarterly Sales of $48.56 Million

Equities research analysts expect Plug Power Inc (NASDAQ:PLUG) to announce $48.56 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Plug Power’s earnings, with estimates ranging from $48.15 million to $48.83 million. Plug Power reported sales of $61.43 million during the same quarter last year, which would suggest a negative year over year growth rate of 21%. The company is expected to issue its next earnings report before the market opens on Thursday, November 8th.

According to Zacks, analysts expect that Plug Power will report full-year sales of $164.19 million for the current financial year. For the next year, analysts expect that the company will post sales of $216.11 million, with estimates ranging from $192.20 million to $235.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Plug Power.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Thursday, August 9th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.03). Plug Power had a negative return on equity of 108.78% and a negative net margin of 66.16%. The company had revenue of $39.93 million for the quarter, compared to the consensus estimate of $40.52 million. During the same period in the prior year, the company earned ($0.10) EPS. The firm’s revenue was up 76.7% on a year-over-year basis.

Several brokerages have recently issued reports on PLUG. Oppenheimer began coverage on shares of Plug Power in a research report on Thursday, August 23rd. They set an “outperform” rating and a $2.50 price objective for the company. Zacks Investment Research raised shares of Plug Power from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a research report on Tuesday, October 16th. BidaskClub downgraded shares of Plug Power from a “hold” rating to a “sell” rating in a research report on Thursday, August 23rd. CIBC began coverage on shares of Plug Power in a research report on Thursday, August 23rd. They set an “outperform” rating and a $2.50 price objective for the company. Finally, Cowen set a $3.00 price objective on shares of Plug Power and gave the stock a “buy” rating in a research report on Tuesday, October 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $3.29.

In related news, insider Gerard L. Conway, Jr. sold 100,000 shares of the stock in a transaction on Monday, October 15th. The shares were sold at an average price of $1.86, for a total transaction of $186,000.00. Following the completion of the transaction, the insider now owns 110,519 shares in the company, valued at $205,565.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory B. Graves sold 31,343 shares of the stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $1.73, for a total transaction of $54,223.39. Following the transaction, the director now owns 43,296 shares of the company’s stock, valued at approximately $74,902.08. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in PLUG. Odey Asset Management Group Ltd boosted its holdings in Plug Power by 90.3% during the second quarter. Odey Asset Management Group Ltd now owns 4,910,000 shares of the electronics maker’s stock worth $9,918,000 after purchasing an additional 2,330,000 shares during the last quarter. Nomura Holdings Inc. boosted its holdings in Plug Power by 67.2% during the second quarter. Nomura Holdings Inc. now owns 369,608 shares of the electronics maker’s stock worth $747,000 after purchasing an additional 148,511 shares during the last quarter. LPL Financial LLC acquired a new position in Plug Power during the first quarter worth $270,000. BlackRock Inc. boosted its holdings in Plug Power by 1.0% during the first quarter. BlackRock Inc. now owns 14,499,641 shares of the electronics maker’s stock worth $27,404,000 after purchasing an additional 142,606 shares during the last quarter. Finally, Global X Management Co LLC acquired a new position in Plug Power during the second quarter worth $266,000. Institutional investors and hedge funds own 30.51% of the company’s stock.

Shares of PLUG stock traded up $0.02 during trading hours on Friday, hitting $1.93. 2,260,432 shares of the company were exchanged, compared to its average volume of 3,173,619. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 4.16. Plug Power has a 52 week low of $1.53 and a 52 week high of $2.87. The company has a market capitalization of $408.11 million, a price-to-earnings ratio of -3.22 and a beta of 1.29.

Plug Power Company Profile

Plug Power Inc, an alternative energy technology provider, engages in the design, development, commercialization, and manufacture 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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