Plug Power (NASDAQ:PLUG) Stock: Insider Benjamin Haycraft Sells 9,375 Shares

Key Points

• Plug Power insider Benjamin Haycraft sold 9,375 shares at an average price of $1.41, generating $13,218.75. The sale was made under a pre-arranged Rule 10b5-1 plan and reduced his direct holdings by 9.26% to 91,874 shares.
• PLUG shares fell 0.7% to $1.37, near the company’s one-year low of $1.35, while remaining well below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $3.40. Plug Power recently beat quarterly revenue and EPS expectations but continues to report deeply negative margins and return on equity.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) insider Benjamin Haycraft sold 9,375 shares of Plug Power stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $1.41, for a total value of $13,218.75. Following the completion of the sale, the insider directly owned 91,874 shares in the company, valued at $129,542.34. This represents a 9.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 18th, Benjamin Haycraft sold 200,000 shares of Plug Power stock. The shares were sold at an average price of $2.14, for a total value of $428,000.00.
• On Tuesday, September 15th, Benjamin Haycraft sold 18,750 shares of Plug Power stock. The stock was sold at an average price of $2.06, for a total value of $38,625.00.
• On Friday, September 11th, Benjamin Haycraft sold 13,810 shares of Plug Power stock. The stock was sold at an average price of $2.14, for a total value of $29,553.40.

Plug Power Stock Down 0.7%

Shares of NASDAQ:PLUG traded down $0.01 during mid-day trading on Monday, reaching $1.37. 37,735,141 shares of the stock were exchanged, compared to its average volume of 72,251,063. The company has a quick ratio of 1.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.29. The company has a market cap of $1.91 billion, a P/E ratio of -1.09 and a beta of 2.28. Plug Power, Inc. has a one year low of $1.35 and a one year high of $4.33. The stock's 50 day simple moving average is $2.03 and its 200-day simple moving average is $2.56.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its earnings results on Monday, August 10th. The electronics maker reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.01. Plug Power had a negative return on equity of 56.01% and a negative net margin of 220.59%. The business had revenue of $178.30 million for the quarter, compared to analyst estimates of $169.11 million. The company's quarterly revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts predict that Plug Power, Inc. will post -0.25 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PLUG. Ameritas Advisory Services LLC bought a new position in Plug Power during the second quarter worth about $25,000. Greenleaf Trust acquired a new stake in shares of Plug Power in the second quarter valued at approximately $29,000. Manatuck Hill Partners LLC acquired a new stake in shares of Plug Power in the second quarter valued at approximately $43,000. Angeles Wealth Management LLC bought a new position in shares of Plug Power during the 2nd quarter worth approximately $45,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Plug Power by 75.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,733 shares of the electronics maker's stock worth $38,000 after acquiring an additional 7,191 shares during the period. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLUG. UBS Group reissued a "buy" rating and issued a $5.00 price objective on shares of Plug Power in a research report on Tuesday, August 11th. Susquehanna lowered their price target on shares of Plug Power from $2.50 to $1.75 and set a "neutral" rating on the stock in a research note on Wednesday, October 14th. Oppenheimer reissued a "market perform" rating on shares of Plug Power in a research report on Tuesday, August 11th. Jefferies Financial Group upgraded shares of Plug Power to a "hold" rating in a research note on Thursday, September 3rd. Finally, HC Wainwright restated a "buy" rating and set a $7.00 price objective on shares of Plug Power in a research note on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $3.40.

Plug Power Company Profile

Plug Power Inc is a clean-energy technology company that develops and supplies hydrogen and fuel-cell solutions. Its products include fuel-cell systems and engines for material-handling equipment, backup and stationary power, and other commercial and industrial applications. The company also provides electrolyzers for producing hydrogen, along with hydrogen generation, liquefaction, storage, and delivery services.

Plug Power serves customers in material handling, transportation, power generation, and industrial markets.

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