Plug Power (NASDAQ:PLUG) Shares Up 4.6% After Insider Buying Activity

Key Points

• Insider purchase: Jose Luis Crespo bought 37,300 shares on Dec. 15 at an average price of $2.34, increasing his stake by 13.81% to 307,332 shares (≈$719K).
• 4.6% intraday gain: Shares rose as high as $2.49 and last traded at $2.26 on heavy volume of 121.48 million shares, about 25% above the average session volume.
• Analysts are mixed — MarketBeat shows a consensus rating of 'Hold' with a $2.80 price target, while the company reports negative EPS, a -313% net margin, and a $3.15 billion market cap.

Shares of Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) traded up 4.6% during trading on Thursday after an insider bought additional shares in the company. The stock traded as high as $2.49 and last traded at $2.26. 121,481,262 shares were traded during trading, an increase of 25% from the average session volume of 96,906,047 shares. The stock had previously closed at $2.16.

Specifically, insider Jose Luis Crespo acquired 37,300 shares of the company's stock in a transaction on Monday, December 15th. The shares were bought at an average cost of $2.34 per share, with a total value of $87,282.00. Following the transaction, the insider owned 307,332 shares in the company, valued at approximately $719,156.88. This trade represents a 13.81% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

PLUG has been the topic of a number of analyst reports. Hsbc Global Res upgraded Plug Power to a "strong-buy" rating in a research note on Thursday, October 9th. Susquehanna cut their price objective on shares of Plug Power from $3.50 to $2.50 and set a "neutral" rating on the stock in a report on Monday, November 17th. Canaccord Genuity Group set a $7.00 target price on shares of Plug Power in a report on Monday, November 24th. HSBC set a $4.40 price objective on shares of Plug Power in a research note on Thursday, October 9th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Plug Power in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $2.80.

Plug Power Price Performance

The stock has a fifty day moving average of $2.58 and a two-hundred day moving average of $2.00. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of -0.95 and a beta of 1.74. The company has a quick ratio of 0.70, a current ratio of 1.32 and a debt-to-equity ratio of 0.24.

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

Hedge Funds Weigh In On Plug Power

A number of large investors have recently modified their holdings of the company. Kovack Advisors Inc. bought a new stake in Plug Power in the 3rd quarter valued at about $26,000. Yousif Capital Management LLC acquired a new stake in Plug Power in the third quarter worth approximately $27,000. Prakash Investment Advisors LLC acquired a new position in shares of Plug Power in the 3rd quarter worth approximately $27,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Plug Power in the 3rd quarter worth $30,000. Finally, Oak Thistle LLC acquired a new position in Plug Power during the third quarter valued at $30,000. 43.48% of the stock is currently 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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