Insider Selling: Plug Power (NASDAQ:PLUG) Insider Sells $13,218.75 in Stock

Plug Power, Inc. (NASDAQ:PLUG) insider Benjamin Haycraft sold 9,375 shares of the business’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $1.41, for a total transaction of $13,218.75. Following the sale, the insider directly owned 91,874 shares of the company’s stock, valued at approximately $129,542.34. The trade was a 9.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Benjamin Haycraft also recently made the following trade(s):

• On Friday, September 18th, Benjamin Haycraft sold 200,000 shares of Plug Power stock. The shares were sold at an average price of $2.14, for a total transaction of $428,000.00.
• On Tuesday, September 15th, Benjamin Haycraft sold 18,750 shares of Plug Power stock. The shares were sold at an average price of $2.06, for a total transaction of $38,625.00.
• On Friday, September 11th, Benjamin Haycraft sold 13,810 shares of Plug Power stock. The shares were sold at an average price of $2.14, for a total value of $29,553.40.

Plug Power Price Performance

PLUG stock opened at $1.41 on Thursday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.32 and a current ratio of 2.32. The business has a 50-day simple moving average of $1.98 and a two-hundred day simple moving average of $2.54. The company has a market capitalization of $1.97 billion, a P/E ratio of -1.12 and a beta of 2.28. Plug Power, Inc. has a 52-week low of $1.34 and a 52-week high of $4.33.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Monday, August 10th. The electronics maker reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. Plug Power had a negative return on equity of 56.01% and a negative net margin of 220.59%. The firm had revenue of $178.30 million during the quarter, compared to the consensus estimate of $169.11 million. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Research analysts expect that Plug Power, Inc. will post -0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Plug Power in a research report on Tuesday, September 29th. Jefferies Financial Group raised shares of Plug Power to a “hold” rating in a report on Thursday, September 3rd. Morgan Stanley reiterated an “underweight” rating and issued a $1.20 target price on shares of Plug Power in a research note on Wednesday, October 14th. Weiss Ratings lowered shares of Plug Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. Finally, UBS Group reiterated a “buy” rating and issued a $5.00 target price on shares of Plug Power in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.40.

Hedge Funds Weigh In On Plug Power

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its position in shares of Plug Power by 21.0% during the second quarter. BlackRock Inc. now owns 184,032,469 shares of the electronics maker’s stock valued at $498,728,000 after acquiring an additional 31,939,194 shares during the last quarter. State Street Corp lifted its holdings in Plug Power by 6.1% during the second quarter. State Street Corp now owns 38,763,529 shares of the electronics maker’s stock worth $105,049,000 after acquiring an additional 2,214,427 shares during the period. Renaissance Technologies LLC boosted its position in Plug Power by 97.4% in the first quarter. Renaissance Technologies LLC now owns 27,738,500 shares of the electronics maker’s stock worth $62,689,000 after purchasing an additional 13,685,900 shares during the last quarter. Handelsbanken Fonder AB boosted its position in Plug Power by 446.9% in the second quarter. Handelsbanken Fonder AB now owns 19,014,270 shares of the electronics maker’s stock worth $51,529,000 after purchasing an additional 15,537,320 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Plug Power by 241.2% in the first quarter. Dimensional Fund Advisors LP now owns 18,134,913 shares of the electronics maker’s stock worth $40,971,000 after purchasing an additional 12,820,616 shares during the last quarter. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Company Profile

Plug Power Inc is a clean-energy technology company that develops hydrogen and fuel-cell solutions for commercial and industrial customers. Founded in 1997 and headquartered in Latham, New York, the company focuses on replacing conventional batteries and fossil-fuel-powered equipment with hydrogen-based power systems.

Its product portfolio includes fuel-cell systems for material-handling equipment, backup and stationary power, and commercial vehicles; hydrogen engines and fuel-cell stacks; electrolyzers that produce hydrogen from water; and hydrogen generation, storage, and delivery infrastructure.