Plug Power (NASDAQ:PLUG) Insider Acquires $87,282.00 in Stock

Plug Power, Inc. (NASDAQ:PLUG) insider Jose Luis Crespo acquired 37,300 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were bought at an average price of $2.34 per share, for a total transaction of $87,282.00. Following the purchase, the insider directly owned 307,332 shares of the company’s stock, valued at approximately $719,156.88. This trade represents a 13.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Plug Power Price Performance

NASDAQ:PLUG traded down $0.13 during midday trading on Wednesday, hitting $2.16. 81,789,413 shares of the stock were exchanged, compared to its average volume of 99,235,232. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of -0.91 and a beta of 1.74. The company has a current ratio of 1.32, a quick ratio of 0.70 and a debt-to-equity ratio of 0.24. Plug Power, Inc. has a one year low of $0.69 and a one year high of $4.58. The business has a 50-day moving average price of $2.58 and a two-hundred day moving average price of $2.00.

Plug Power (NASDAQ:PLUG) last issued 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 return on equity of 105.98% and a negative net margin of 313.69%.The company had revenue of $177.06 million for the quarter, compared to analysts’ expectations of $185.41 million. Sell-side analysts predict that Plug Power, Inc. will post -1.21 EPS for the current year.

Analyst Upgrades and Downgrades

PLUG has been the topic of several research reports. HSBC set a $4.40 price target on shares of Plug Power in a research report on Thursday, October 9th. Morgan Stanley reiterated an “underweight” rating and issued a $1.50 target price on shares of Plug Power in a report on Thursday, October 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Plug Power in a research note on Wednesday, October 8th. Susquehanna decreased their price target on shares of Plug Power from $3.50 to $2.50 and set a “neutral” rating on the stock in a research report on Monday, November 17th. Finally, Canaccord Genuity Group set a $7.00 price target on Plug Power in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, Plug Power presently has an average rating of “Hold” and a consensus price target of $2.80.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Kovack Advisors Inc. acquired a new stake in shares of Plug Power during the third quarter valued at approximately $26,000. Sender Co & Partners Inc. purchased a new position in Plug Power during the 2nd quarter worth approximately $26,000. Yousif Capital Management LLC purchased a new position in Plug Power during the 3rd quarter worth approximately $27,000. Prakash Investment Advisors LLC acquired a new stake in Plug Power during the 3rd quarter valued at $27,000. Finally, O ROURKE & COMPANY Inc purchased a new stake in shares of Plug Power in the second quarter valued at $30,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

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.