Wall Street analysts predict that Plug Power Inc (NASDAQ:PLUG) will announce $54.89 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Plug Power’s earnings, with the lowest sales estimate coming in at $50.30 million and the highest estimate coming in at $59.30 million. Plug Power posted sales of $55.30 million during the same quarter last year, which suggests a negative year-over-year growth rate of 0.7%. The company is expected to issue its next quarterly earnings results on Thursday, November 14th.

According to Zacks, analysts expect that Plug Power will report full-year sales of $0.00 for the current financial year. For the next financial year, analysts forecast that the company will post sales of $306.57 million, with estimates ranging from $272.10 million to $396.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Plug Power.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Tuesday, August 6th. The electronics maker reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.02. The business had revenue of $57.07 million for the quarter, compared to analysts’ expectations of $52.47 million. Plug Power had a negative net margin of 44.51% and a negative return on equity of 6,435.09%. The business’s revenue was up 62.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) earnings per share.

A number of brokerages have weighed in on PLUG. Cowen set a $3.00 price objective on shares of Plug Power and gave the stock a “buy” rating in a report on Tuesday, September 17th. BidaskClub upgraded shares of Plug Power from a “hold” rating to a “buy” rating in a report on Wednesday. HC Wainwright set a $4.00 price objective on shares of Plug Power and gave the stock a “buy” rating in a report on Wednesday. Finally, Zacks Investment Research upgraded shares of Plug Power from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Plug Power has an average rating of “Buy” and an average target price of $2.96.

PLUG traded down $0.01 during midday trading on Thursday, reaching $2.80. The company’s stock had a trading volume of 5,486,131 shares, compared to its average volume of 3,824,790. The firm has a market capitalization of $708.02 million, a price-to-earnings ratio of -7.78 and a beta of 1.47. The company has a current ratio of 1.49, a quick ratio of 0.78 and a debt-to-equity ratio of 66.88. Plug Power has a 1 year low of $0.99 and a 1 year high of $2.94. The stock’s 50-day moving average is $2.25 and its 200-day moving average is $2.36.

Hedge funds and other institutional investors have recently modified their holdings of the company. Aperio Group LLC lifted its stake in shares of Plug Power by 22.9% in the second quarter. Aperio Group LLC now owns 277,537 shares of the electronics maker’s stock worth $624,000 after buying an additional 51,784 shares in the last quarter. Alps Advisors Inc. lifted its stake in shares of Plug Power by 110.3% in the second quarter. Alps Advisors Inc. now owns 396,087 shares of the electronics maker’s stock worth $891,000 after buying an additional 207,701 shares in the last quarter. Advisor Group Inc. lifted its stake in shares of Plug Power by 26.7% in the second quarter. Advisor Group Inc. now owns 97,340 shares of the electronics maker’s stock worth $219,000 after buying an additional 20,500 shares in the last quarter. Fosun International Ltd bought a new position in shares of Plug Power in the second quarter worth approximately $53,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Plug Power in the second quarter worth approximately $666,000. Hedge funds and other institutional investors own 32.15% of the company’s stock.

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.

Further Reading: What is channel trading?

Get a free copy of the Zacks research report on Plug Power (PLUG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Plug Power (NASDAQ:PLUG)

Receive News & Ratings for Plug Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plug Power and related companies with MarketBeat.com's FREE daily email newsletter.