Plug Power (NASDAQ:PLUG) Insider Sells $86,800.00 in Stock

Plug Power, Inc. (NASDAQ:PLUG) insider Benjamin Haycraft sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $2.17, for a total transaction of $86,800.00. Following the completion of the sale, the insider owned 333,809 shares in the company, valued at $724,365.53. This represents a 10.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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 transaction of $88,000.00.
• On Monday, November 10th, Benjamin Haycraft sold 10,000 shares of Plug Power stock. The shares were sold at an average price of $2.92, for a total value of $29,200.00.

Plug Power Stock Performance

PLUG stock opened at $2.36 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.70. Plug Power, Inc. has a 1 year low of $0.69 and a 1 year high of $4.58. The company has a market cap of $3.28 billion, a P/E ratio of -1.00 and a beta of 1.68. The stock’s fifty day moving average price is $2.18 and its 200-day moving average price is $2.15.

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

Analyst Upgrades and Downgrades

PLUG has been the topic of a number of research reports. Cowen downgraded shares of Plug Power from a “buy” rating to a “hold” rating in a report on Friday, January 9th. Hsbc Global Res upgraded shares of Plug Power to a “strong-buy” rating in a research report on Thursday, October 9th. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Plug Power in a research note on Monday, November 24th. HSBC set a $4.40 price objective on shares of Plug Power in a research report on Thursday, October 9th. Finally, TD Cowen cut Plug Power from a “buy” rating to a “hold” rating and decreased their target price for the stock from $4.00 to $2.00 in a report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, Plug Power currently has an average rating of “Hold” and an average target price of $2.73.

Institutional Trading of Plug Power

Several institutional investors and hedge funds have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Plug Power by 12.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,607,153 shares of the electronics maker’s stock worth $3,520,000 after buying an additional 297,754 shares during the period. Focus Partners Wealth purchased a new position in shares of Plug Power in the first quarter valued at about $37,000. Swedbank AB boosted its stake in shares of Plug Power by 16.5% in the first quarter. Swedbank AB now owns 274,066 shares of the electronics maker’s stock worth $370,000 after acquiring an additional 38,833 shares during the period. Sovran Advisors LLC boosted its stake in shares of Plug Power by 61.7% in the second quarter. Sovran Advisors LLC now owns 114,998 shares of the electronics maker’s stock worth $163,000 after acquiring an additional 43,871 shares during the period. Finally, Baader Bank Aktiengesellschaft grew its position in shares of Plug Power by 3,034.2% during the second quarter. Baader Bank Aktiengesellschaft now owns 652,950 shares of the electronics maker’s stock worth $973,000 after purchasing an additional 632,117 shares in the last quarter. 43.48% of the stock is currently owned by institutional investors.

About Plug Power

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.