Insider Selling: Plug Power (NASDAQ:PLUG) EVP Sells 10,000 Shares of Stock

Key Points

• Plug Power EVP Benjamin Haycraft sold 10,000 shares on November 10 at an average price of $2.92 for $29,200, and now owns 467,583 shares (a 2.09% reduction); the sale was disclosed in an SEC filing.
• Plug Power reported Q results with an EPS of ($0.12) beating estimates of ($0.13) but revenue of $177.06 million missed expectations of $185.41 million, while the company still shows deeply negative margins and ROE.
• Shares traded around $2.74 with a market cap of ~$3.16 billion; analyst coverage is mixed with an average rating of "Hold" and an average target price of $2.65.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) EVP Benjamin Haycraft sold 10,000 shares of the company's stock in a transaction on Monday, November 10th. The stock was sold at an average price of $2.92, for a total value of $29,200.00. Following the sale, the executive vice president owned 467,583 shares of the company's stock, valued at approximately $1,365,342.36. This represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, September 16th, Benjamin Haycraft sold 10,972 shares of Plug Power stock. The stock was sold at an average price of $1.59, for a total value of $17,445.48.

Plug Power Price Performance

Shares of PLUG traded up $0.21 during mid-day trading on Wednesday, reaching $2.74. The company had a trading volume of 176,527,775 shares, compared to its average volume of 95,947,219. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of -1.19 and a beta of 2.28. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.59. The company's 50 day simple moving average is $2.65 and its 200 day simple moving average is $1.77. Plug Power, Inc. has a 1-year low of $0.69 and a 1-year high of $4.58.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings data on Monday, November 10th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.01. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. The business had revenue of $177.06 million during the quarter, compared to analysts' expectations of $185.41 million. Plug Power has set its FY 2025 guidance at EPS. Analysts expect that Plug Power, Inc. will post -1.21 EPS for the current year.

Analyst Upgrades and Downgrades

PLUG has been the subject of several recent research reports. HSBC set a $4.40 price objective on Plug Power in a research note on Thursday, October 9th. Susquehanna raised their target price on Plug Power from $1.80 to $3.50 and gave the stock a "neutral" rating in a research report on Monday, October 13th. Evercore ISI upgraded Plug Power to a "strong sell" rating in a report on Tuesday, July 15th. Wall Street Zen raised shares of Plug Power from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Hsbc Global Res upgraded shares of Plug Power to a "strong-buy" rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $2.65.

Institutional Trading of Plug Power

Several institutional investors and hedge funds have recently modified their holdings of the stock. Insigneo Advisory Services LLC bought a new position in shares of Plug Power in the third quarter valued at approximately $96,000. Harvest Portfolios Group Inc. raised its stake in shares of Plug Power by 38.8% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 176,760 shares of the electronics maker's stock worth $412,000 after purchasing an additional 49,366 shares during the period. R Squared Ltd grew its position in Plug Power by 76.7% during the third quarter. R Squared Ltd now owns 48,444 shares of the electronics maker's stock valued at $113,000 after buying an additional 21,024 shares during the period. Xponance Inc. lifted its stake in Plug Power by 19.8% in the third quarter. Xponance Inc. now owns 85,659 shares of the electronics maker's stock valued at $200,000 after purchasing an additional 14,162 shares during the last quarter. Finally, First Heartland Consultants Inc. bought a new position in shares of Plug Power during the 3rd quarter worth $37,000. 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.

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