Plug Power Inc. (NASDAQ:PLUG) CFO Buys $252,000.00 in Stock

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) CFO Paul B. Middleton acquired 350,000 shares of Plug Power stock in a transaction on Friday, May 16th. The stock was acquired at an average price of $0.72 per share, with a total value of $252,000.00. Following the purchase, the chief financial officer now directly owns 1,908,064 shares in the company, valued at approximately $1,373,806.08. This trade represents a 22.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Plug Power Price Performance

PLUG stock traded up $0.02 during mid-day trading on Monday, reaching $0.79. 130,567,604 shares of the company traded hands, compared to its average volume of 82,162,367. Plug Power Inc. has a 52-week low of $0.69 and a 52-week high of $3.55. The company has a market capitalization of $851.89 million, a P/E ratio of -0.37 and a beta of 2.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The company has a fifty day moving average price of $1.13 and a 200-day moving average price of $1.77.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its earnings results on Monday, May 12th. The electronics maker reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The firm had revenue of $133.67 million for the quarter, compared to the consensus estimate of $130.92 million. As a group, analysts anticipate that Plug Power Inc. will post -1.21 earnings per share for the current year.

Wall Street Analyst Weigh In

PLUG has been the subject of several research reports. StockNews.com upgraded shares of Plug Power to a "sell" rating in a research report on Tuesday, May 13th. BMO Capital Markets dropped their target price on shares of Plug Power from $1.60 to $1.40 and set an "underperform" rating on the stock in a research note on Wednesday, March 5th. Seaport Res Ptn lowered shares of Plug Power from a "hold" rating to a "strong sell" rating in a research note on Monday, January 27th. Truist Financial dropped their price objective on Plug Power from $2.00 to $1.50 and set a "hold" rating on the stock in a research note on Wednesday, March 5th. Finally, Canaccord Genuity Group decreased their target price on Plug Power from $1.25 to $1.00 and set a "hold" rating for the company in a research report on Tuesday, May 13th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $1.91.

Institutional Trading of Plug Power

Several institutional investors and hedge funds have recently modified their holdings of PLUG. Pacific Sage Partners LLC purchased a new position in Plug Power in the 4th quarter worth approximately $25,000. Oppenheimer & Co. Inc. bought a new position in shares of Plug Power during the 4th quarter valued at $25,000. Jones Financial Companies Lllp boosted its position in Plug Power by 107.4% during the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock valued at $25,000 after buying an additional 6,074 shares during the period. Miracle Mile Advisors LLC purchased a new stake in Plug Power during the 1st quarter valued at about $26,000. Finally, Callan Family Office LLC purchased a new position in Plug Power in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 43.48% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.