Plug Power (NASDAQ:PLUG) Insider Sells $38,000.00 in Stock

Key Points

• Insider sale: Benjamin Haycraft sold 10,000 Plug Power shares on October 10 at $3.80 for $38,000, trimming his stake to 457,583 shares (a 2.14% decrease), and has executed several other sales this year including 40,000 shares on Dec. 10 at $2.20.
• Stock and analyst outlook: PLUG traded around $2.32 (50-day MA $2.71, 200-day MA $1.95) with a $3.23B market cap and a consensus analyst rating of "Hold" and an average price target of $2.80.
• Recent results: Plug Power reported Q earnings of ($0.12) per share (beating estimates by $0.01) and $177.1M revenue (below estimates), while showing deeply negative margins and analysts forecasting roughly -1.21 EPS for the year.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) insider Benjamin Haycraft sold 10,000 shares of the stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $3.80, for a total value of $38,000.00. Following the sale, the insider owned 457,583 shares in the company, valued at $1,738,815.40. The trade was a 2.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 value of $88,000.00.
• On Monday, November 10th, Benjamin Haycraft sold 10,000 shares of Plug Power stock. The stock was sold at an average price of $2.92, for a total value of $29,200.00.
• 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 Stock Performance

Shares of PLUG traded down $0.04 during midday trading on Friday, hitting $2.32. 114,210,517 shares of the stock traded hands, compared to its average volume of 96,909,438. The business's 50 day moving average price is $2.71 and its two-hundred day moving average price is $1.95. The firm has a market capitalization of $3.23 billion, a PE ratio of -0.98 and a beta of 1.74. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.70 and a current ratio of 1.32. 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 for the quarter, topping analysts' consensus estimates of ($0.13) by $0.01. The business had revenue of $177.06 million for the quarter, compared to analysts' expectations of $185.41 million. Plug Power had a negative net margin of 313.69% and a negative return on equity of 105.98%. Equities research analysts predict that Plug Power, Inc. will post -1.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PLUG. Wall Street Zen cut Plug Power from a "hold" rating to a "sell" rating in a report on Sunday, November 16th. Weiss Ratings restated a "sell (d-)" rating on shares of Plug Power in a research report on Wednesday, October 8th. Wells Fargo & Company boosted their price target on Plug Power from $1.00 to $1.50 and gave the stock an "equal weight" rating in a research report on Thursday, August 14th. Susquehanna decreased their price target on Plug Power from $3.50 to $2.50 and set a "neutral" rating for the company in a research note on Monday, November 17th. Finally, HC Wainwright restated a "buy" rating and set a $7.00 price objective on shares of Plug Power in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, Plug Power presently has a consensus rating of "Hold" and an average price target of $2.80.

Institutional Trading of Plug Power

A number of hedge funds and other institutional investors have recently made changes to their positions in PLUG. Kovack Advisors Inc. acquired a new stake in Plug Power during the third quarter valued at approximately $26,000. Yousif Capital Management LLC acquired a new position in Plug Power in the third quarter worth approximately $27,000. Prakash Investment Advisors LLC bought a new position in shares of Plug Power in the third quarter valued at $27,000. Prime Capital Investment Advisors LLC acquired a new stake in shares of Plug Power during the 3rd quarter valued at $30,000. Finally, Oak Thistle LLC acquired a new stake in shares of Plug Power during the 3rd quarter valued at $30,000. 43.48% of the stock is currently owned by 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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