Insider Selling: Plug Power (NASDAQ:PLUG) EVP Sells 10,000 Shares of Stock

Plug Power, Inc. (NASDAQ:PLUG) EVP Benjamin Haycraft sold 10,000 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $2.92, for a total value of $29,200.00. Following the transaction, the executive vice president owned 467,583 shares of the company’s stock, valued at approximately $1,365,342.36. The trade was a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, September 16th, Benjamin Haycraft sold 10,972 shares of Plug Power stock. The stock was sold at an average price of $1.59, for a total transaction of $17,445.48.

Plug Power Price Performance

PLUG traded up $0.21 during midday trading on Wednesday, hitting $2.74. The stock had a trading volume of 176,527,775 shares, compared to its average volume of 95,947,219. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.59. Plug Power, Inc. has a 1 year low of $0.69 and a 1 year high of $4.58. The business has a fifty day moving average of $2.65 and a 200 day moving average of $1.77. The company has a market cap of $3.16 billion, a P/E ratio of -1.19 and a beta of 2.28.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.01. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. The business had revenue of $177.06 million during the quarter, compared to analyst estimates of $185.41 million. Plug Power has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Plug Power, Inc. will post -1.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PLUG. Canaccord Genuity Group raised their price target on shares of Plug Power from $1.25 to $2.50 and gave the stock a “hold” rating in a report on Tuesday. Wells Fargo & Company lifted their price target on shares of Plug Power from $1.00 to $1.50 and gave the company an “equal weight” rating in a research report on Thursday, August 14th. HC Wainwright increased their target price on Plug Power from $3.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Evercore ISI upgraded shares of Plug Power to a “strong sell” rating in a report on Tuesday, July 15th. Finally, Susquehanna lifted their price target on shares of Plug Power from $1.80 to $3.50 and gave the stock a “neutral” rating in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $2.65.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Plug Power by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 109,631,956 shares of the electronics maker’s stock worth $255,442,000 after acquiring an additional 7,789,039 shares in the last quarter. Geode Capital Management LLC increased its stake in Plug Power by 14.9% during the second quarter. Geode Capital Management LLC now owns 24,071,904 shares of the electronics maker’s stock worth $35,872,000 after acquiring an additional 3,125,542 shares during the last quarter. Heights Capital Management Inc. purchased a new stake in Plug Power during the first quarter valued at approximately $31,174,000. Legal & General Group Plc boosted its holdings in shares of Plug Power by 59.9% in the 2nd quarter. Legal & General Group Plc now owns 16,980,865 shares of the electronics maker’s stock worth $25,301,000 after purchasing an additional 6,364,483 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Plug Power by 45.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,027,081 shares of the electronics maker’s stock worth $11,743,000 after purchasing an additional 2,521,348 shares during the period. Hedge funds and other institutional investors own 43.48% of the company’s stock.

About Plug Power

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.