Zacks: Analysts Expect Plug Power Inc (PLUG) Will Announce Quarterly Sales of $35.90 Million
Analysts expect that Plug Power Inc (NASDAQ:PLUG) will post $35.90 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Plug Power’s earnings, with the lowest sales estimate coming in at $30.89 million and the highest estimate coming in at $47.90 million. Plug Power reported sales of $32.58 million in the same quarter last year, which would suggest a positive year over year growth rate of 10.2%. The company is scheduled to issue its next quarterly earnings results on Thursday, March 8th.
According to Zacks, analysts expect that Plug Power will report full-year sales of $35.90 million for the current year, with estimates ranging from $119.30 million to $140.83 million. For the next year, analysts anticipate that the firm will report sales of $223.44 million per share, with estimates ranging from $173.54 million to $285.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Plug Power.
Plug Power (NASDAQ:PLUG) last released its earnings results on Wednesday, November 8th. The electronics maker reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). Plug Power had a negative net margin of 96.27% and a negative return on equity of 83.93%. The firm had revenue of $61.43 million for the quarter, compared to the consensus estimate of $54.57 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The company’s quarterly revenue was up 249.0% compared to the same quarter last year.
In other Plug Power news, Director George C. Mcnamee purchased 200,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were bought at an average price of $2.20 per share, with a total value of $440,000.00. Following the completion of the purchase, the director now directly owns 486,131 shares in the company, valued at $1,069,488.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.90% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Archford Capital Strategies LLC increased its position in Plug Power by 20,422.2% during the second quarter. Archford Capital Strategies LLC now owns 1,847 shares of the electronics maker’s stock valued at $115,000 after acquiring an additional 1,838 shares during the last quarter. Brighton Jones LLC bought a new position in Plug Power during the second quarter valued at $102,000. Adalta Capital Management LLC bought a new position in Plug Power during the second quarter valued at $106,000. Creative Planning increased its position in Plug Power by 41.5% during the second quarter. Creative Planning now owns 70,472 shares of the electronics maker’s stock valued at $144,000 after acquiring an additional 20,673 shares during the last quarter. Finally, Virtu KCG Holdings LLC increased its position in Plug Power by 126.4% during the second quarter. Virtu KCG Holdings LLC now owns 92,497 shares of the electronics maker’s stock valued at $189,000 after acquiring an additional 51,638 shares during the last quarter. Institutional investors and hedge funds own 24.43% of the company’s stock.
Plug Power (NASDAQ PLUG) traded down $0.15 during mid-day trading on Tuesday, hitting $2.36. 4,708,300 shares of the stock traded hands, compared to its average volume of 7,236,020. Plug Power has a 1 year low of $0.83 and a 1 year high of $3.21. The company has a current ratio of 1.29, a quick ratio of 0.86 and a debt-to-equity ratio of 0.62.
About Plug Power
Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.
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