Plug Power (NASDAQ:PLUG) Insider Sells $86,800.00 in Stock

Key Points

• Benjamin Haycraft sold 40,000 Plug Power shares on Jan. 12 at an average price of $2.17 for $86,800, leaving him with 333,809 shares — a 10.70% reduction in his ownership.
• Haycraft also sold 40,000 shares on Dec. 10 at $2.20 and 10,000 on Nov. 10 at $2.92, meaning he has sold 90,000 shares since November for approximately $204,000 in proceeds.
• Plug Power trades near $2.35 with a $3.27B market cap, reports negative EPS and wide negative margins, and holds a MarketBeat consensus rating of "Hold" with a $2.73 target amid mixed analyst opinions.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) insider Benjamin Haycraft sold 40,000 shares of the firm's stock in a transaction on Monday, January 12th. The shares were sold at an average price of $2.17, for a total value of $86,800.00. Following the completion of the sale, the insider owned 333,809 shares in the company, valued at approximately $724,365.53. This represents a 10.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction of $29,200.00.

Plug Power Stock Performance

Shares of PLUG stock traded up $0.07 during mid-day trading on Wednesday, hitting $2.35. 81,169,926 shares of the stock were exchanged, compared to its average volume of 98,136,375. Plug Power, Inc. has a 12-month low of $0.69 and a 12-month high of $4.58. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.70 and a current ratio of 1.32. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of -0.99 and a beta of 1.68. The stock's fifty day simple moving average is $2.20 and its two-hundred day simple moving average is $2.14.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings data on Monday, November 10th. The electronics maker reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.01. The company had revenue of $177.06 million during the quarter, compared to analysts' expectations of $185.41 million. Plug Power had a negative return on equity of 105.98% and a negative net margin of 313.69%. On average, analysts forecast that Plug Power, Inc. will post -1.21 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on PLUG. TD Cowen lowered shares of Plug Power from a "buy" rating to a "hold" rating and dropped their price objective for the company from $4.00 to $2.00 in a research note on Friday, January 9th. Hsbc Global Res raised Plug Power to a "strong-buy" rating in a research report on Thursday, October 9th. Canaccord Genuity Group set a $7.00 target price on Plug Power in a report on Monday, November 24th. HSBC set a $4.40 price target on Plug Power in a report on Thursday, October 9th. Finally, Morgan Stanley reiterated an "underweight" rating and issued a $1.50 price objective on shares of Plug Power in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat, Plug Power currently has an average rating of "Hold" and a consensus target price of $2.73.

Institutional Investors Weigh In On Plug Power

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kovack Advisors Inc. purchased a new stake in Plug Power during the third quarter worth $26,000. Yousif Capital Management LLC acquired a new position in shares of Plug Power during the 3rd quarter worth $27,000. Prakash Investment Advisors LLC purchased a new stake in shares of Plug Power in the 3rd quarter worth about $27,000. Prime Capital Investment Advisors LLC purchased a new position in Plug Power during the 3rd quarter valued at about $30,000. Finally, Oak Thistle LLC acquired a new position in Plug Power during the third quarter worth about $30,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Company Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.

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