Plug Power (NASDAQ:PLUG) Insider Benjamin Haycraft Sells 10,000 Shares

Plug Power, Inc. (NASDAQ:PLUG) insider Benjamin Haycraft sold 10,000 shares of the stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $3.80, for a total transaction of $38,000.00. Following the completion of the transaction, the insider directly owned 457,583 shares of the company’s stock, valued at approximately $1,738,815.40. The trade was a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, December 10th, Benjamin Haycraft sold 40,000 shares of Plug Power stock. The shares were sold at an average price of $2.20, for a total value of $88,000.00.
• On Monday, November 10th, Benjamin Haycraft sold 10,000 shares of Plug Power stock. The stock was sold at an average price of $2.92, for a total value of $29,200.00.
• On Tuesday, September 16th, Benjamin Haycraft sold 10,972 shares of Plug Power stock. The shares were sold at an average price of $1.59, for a total value of $17,445.48.

Plug Power Trading Down 1.7%

NASDAQ PLUG opened at $2.32 on Friday. The firm has a market capitalization of $3.23 billion, a PE ratio of -0.98 and a beta of 1.74. The stock’s 50 day moving average is $2.68 and its 200 day moving average is $1.96. Plug Power, Inc. has a twelve month low of $0.69 and a twelve month high of $4.58. The company has a quick ratio of 0.70, a current ratio of 1.32 and a debt-to-equity ratio of 0.24.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Monday, November 10th. The electronics maker reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.01. Plug Power had a negative return on equity of 105.98% and a negative net margin of 313.69%.The business had revenue of $177.06 million during the quarter, compared to analyst estimates of $185.41 million. Research analysts forecast that Plug Power, Inc. will post -1.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Plug Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Heights Capital Management Inc. bought a new stake in shares of Plug Power in the 1st quarter worth $31,174,000. Two Sigma Investments LP lifted its holdings in shares of Plug Power by 292.1% during the third quarter. Two Sigma Investments LP now owns 10,830,893 shares of the electronics maker’s stock valued at $25,236,000 after purchasing an additional 8,068,713 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Plug Power by 7.6% during the third quarter. Vanguard Group Inc. now owns 109,631,956 shares of the electronics maker’s stock valued at $255,442,000 after buying an additional 7,789,039 shares during the last quarter. Legal & General Group Plc increased its holdings in 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 buying an additional 6,364,483 shares in the last quarter. Finally, Electron Capital Partners LLC bought a new stake in Plug Power in the 3rd quarter worth about $10,663,000. 43.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on PLUG shares. HSBC set a $4.40 price objective on shares of Plug Power in a research note on Thursday, October 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Plug Power in a research report on Wednesday, October 8th. Cowen restated a “buy” rating on shares of Plug Power in a research note on Wednesday, November 19th. Morgan Stanley reaffirmed an “underweight” rating and set a $1.50 price objective on shares of Plug Power in a research report on Thursday, October 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Plug Power in a report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2.80.

Plug Power Company Profile

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.