Plug Power, Inc. (NASDAQ:PLUG) Director George C. Mcnamee purchased 200,000 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was purchased at an average cost of $2.20 per share, with a total value of $440,000.00. Following the purchase, the director now owns 486,131 shares in the company, valued at $1,069,488.20. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.
Plug Power, Inc. (NASDAQ:PLUG) opened at 2.41 on Wednesday. The firm’s market capitalization is $541.60 million. Plug Power, Inc. has a one year low of $0.83 and a one year high of $2.70. The stock has a 50 day moving average of $2.18 and a 200 day moving average of $2.00.
Plug Power (NASDAQ:PLUG) last released its earnings results on Tuesday, August 8th. The electronics maker reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). Plug Power had a negative net margin of 112.95% and a negative return on equity of 86.35%. The company had revenue of $22.60 million during the quarter, compared to analysts’ expectations of $28.58 million. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. Plug Power’s revenue for the quarter was up 10.5% compared to the same quarter last year. Analysts forecast that Plug Power, Inc. will post ($0.32) earnings per share for the current year.
Several research firms have recently weighed in on PLUG. Rodman & Renshaw reissued a “buy” rating and issued a $4.00 price target on shares of Plug Power in a research note on Monday, July 24th. Cowen and Company set a $3.00 price target on shares of Plug Power and gave the company a “buy” rating in a research note on Monday, July 10th. BidaskClub raised shares of Plug Power from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Roth Capital reissued a “sell” rating and issued a $1.30 price target on shares of Plug Power in a research note on Sunday, July 23rd. Finally, Zacks Investment Research raised shares of Plug Power from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $2.83.
A number of institutional investors have recently added to or reduced their stakes in PLUG. Vanguard Group Inc. grew its holdings in Plug Power by 30.6% in the second quarter. Vanguard Group Inc. now owns 10,432,461 shares of the electronics maker’s stock valued at $21,283,000 after purchasing an additional 2,444,005 shares during the period. Northern Trust Corp lifted its position in Plug Power by 39.5% during the second quarter. Northern Trust Corp now owns 2,828,390 shares of the electronics maker’s stock valued at $5,770,000 after buying an additional 800,320 shares in the last quarter. State Street Corp lifted its position in Plug Power by 14.6% during the second quarter. State Street Corp now owns 3,742,566 shares of the electronics maker’s stock valued at $7,635,000 after buying an additional 477,438 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new position in Plug Power during the first quarter valued at approximately $649,000. Finally, Schwab Charles Investment Management Inc. lifted its position in Plug Power by 58.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,217,301 shares of the electronics maker’s stock valued at $2,484,000 after buying an additional 448,639 shares in the last quarter. Hedge funds and other institutional investors own 23.49% of the company’s stock.
Plug Power Company Profile
Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.
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