Insider Selling: Plug Power (NASDAQ:PLUG) Insider Sells $38,625.00 in Stock

Plug Power, Inc. (NASDAQ:PLUG) insider Benjamin Haycraft sold 18,750 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $2.06, for a total transaction of $38,625.00. Following the completion of the transaction, the insider owned 301,249 shares of the company’s stock, valued at $620,572.94. This represents a 5.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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 traded down $0.01 during midday trading on Tuesday, reaching $2.05. 42,982,659 shares of the company’s stock were exchanged, compared to its average volume of 75,134,359. Plug Power, Inc. has a 1-year low of $1.55 and a 1-year high of $4.58. The stock has a market capitalization of $2.86 billion, a PE ratio of -1.63 and a beta of 2.21. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.32 and a quick ratio of 1.32. The business’s 50-day moving average price is $2.18 and its 200 day moving average price is $2.62.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Monday, August 10th. The electronics maker reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $178.30 million during the quarter, compared to analysts’ expectations of $169.11 million. Plug Power had a negative net margin of 220.59% and a negative return on equity of 56.01%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities analysts anticipate that Plug Power, Inc. will post -0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PLUG shares. Susquehanna cut their price objective on shares of Plug Power from $3.75 to $2.50 and set a “neutral” rating for the company in a research report on Friday, July 10th. Morgan Stanley lifted their target price on shares of Plug Power from $1.50 to $1.65 and gave the stock an “underweight” rating in a research note on Thursday, July 9th. Oppenheimer reiterated a “market perform” rating on shares of Plug Power in a research note on Tuesday, August 11th. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Plug Power in a research report on Tuesday, August 11th. Finally, Roth Capital reissued a “buy” rating and issued a $5.00 price target (up from $3.50) on shares of Plug Power in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.59.

Institutional Investors Weigh In On Plug Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLUG. Ameritas Advisory Services LLC acquired a new stake in Plug Power in the 2nd quarter valued at $25,000. Greenleaf Trust acquired a new position in shares of Plug Power during the second quarter worth about $29,000. DUTCH ASSET Corp acquired a new stake in shares of Plug Power in the fourth quarter valued at about $29,000. Independent Advisor Alliance purchased a new stake in shares of Plug Power during the 4th quarter valued at about $30,000. Finally, Manatuck Hill Partners LLC purchased a new stake in shares of Plug Power during the 2nd quarter valued at about $43,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

About Plug Power

Plug Power Inc is a hydrogen and fuel cell technology company that develops integrated solutions for generating, storing, distributing and using hydrogen. The company serves commercial and industrial customers seeking alternatives to conventional power sources and fossil fuels.

Its product portfolio includes electrolyzers for producing hydrogen from water, hydrogen-generation and storage systems, fuel cell engines, and stationary power systems. Plug Power also provides hydrogen-fueled material-handling equipment, including systems used to power forklifts and other warehouse vehicles, along with related infrastructure, service and maintenance offerings.

Founded in 1997 and headquartered in Latham, New York, Plug Power has focused on expanding hydrogen applications across logistics, material handling, backup and distributed power, transportation, and industrial markets.