Brokerages expect that Plug Power Inc (NASDAQ:PLUG) will post sales of $34.49 million for the current quarter, according to Zacks. Three analysts have issued estimates for Plug Power’s earnings. The highest sales estimate is $42.27 million and the lowest is $30.60 million. Plug Power reported sales of $27.20 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 26.8%. The company is expected to announce its next earnings results on Wednesday, May 8th.
On average, analysts expect that Plug Power will report full-year sales of $234.11 million for the current financial year, with estimates ranging from $224.80 million to $239.30 million. For the next year, analysts forecast that the business will report sales of $307.58 million, with estimates ranging from $270.30 million to $390.51 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Plug Power.
Plug Power (NASDAQ:PLUG) last issued its earnings results on Thursday, March 7th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The business had revenue of $59.80 million during the quarter, compared to the consensus estimate of $58.40 million. Plug Power had a negative net margin of 42.87% and a negative return on equity of 289.96%. The firm’s revenue for the quarter was up 77.4% compared to the same quarter last year. During the same period last year, the business posted ($0.08) EPS.
In other news, CEO Andrew Marsh acquired 12,286 shares of Plug Power stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $2.44 per share, with a total value of $29,977.84. Following the purchase, the chief executive officer now directly owns 465,145 shares of the company’s stock, valued at $1,134,953.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director George C. Mcnamee acquired 100,000 shares of Plug Power stock in a transaction that occurred on Monday, March 18th. The shares were purchased at an average cost of $2.34 per share, for a total transaction of $234,000.00. Following the purchase, the director now directly owns 826,282 shares in the company, valued at $1,933,499.88. The disclosure for this purchase can be found here. 5.10% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its stake in Plug Power by 27.4% during the 4th quarter. Legal & General Group Plc now owns 39,763 shares of the electronics maker’s stock worth $50,000 after acquiring an additional 8,556 shares during the last quarter. Advisor Group Inc. boosted its stake in Plug Power by 38.0% during the 4th quarter. Advisor Group Inc. now owns 53,000 shares of the electronics maker’s stock worth $66,000 after acquiring an additional 14,590 shares during the last quarter. Northern Trust Corp boosted its stake in Plug Power by 0.6% during the 4th quarter. Northern Trust Corp now owns 2,632,446 shares of the electronics maker’s stock worth $3,264,000 after acquiring an additional 16,140 shares during the last quarter. KBC Group NV boosted its stake in Plug Power by 3.8% during the 4th quarter. KBC Group NV now owns 524,923 shares of the electronics maker’s stock worth $651,000 after acquiring an additional 19,138 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in Plug Power by 154.8% during the 4th quarter. Amalgamated Bank now owns 32,671 shares of the electronics maker’s stock worth $41,000 after acquiring an additional 19,851 shares during the last quarter. 26.78% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ PLUG traded up $0.01 during mid-day trading on Friday, hitting $2.57. The company’s stock had a trading volume of 2,321,515 shares, compared to its average volume of 4,715,294. The firm has a market capitalization of $600.96 million, a PE ratio of -7.14 and a beta of 1.78. The company has a current ratio of 1.06, a quick ratio of 0.74 and a debt-to-equity ratio of 66.88. Plug Power has a one year low of $0.99 and a one year high of $2.86.
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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