George C. Mcnamee Acquires 200,000 Shares of Plug Power, Inc. (PLUG) Stock

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.

TRADEMARK VIOLATION WARNING: “George C. Mcnamee Acquires 200,000 Shares of Plug Power, Inc. (PLUG) Stock” was reported by Transcript Daily and is the property of of Transcript Daily. If you are accessing this piece of content on another site, it was stolen and reposted in violation of United States & international trademark and copyright legislation. The legal version of this piece of content can be read at https://transcriptdaily.com/2017/09/20/george-c-mcnamee-acquires-200000-shares-of-plug-power-inc-plug-stock.html.

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.

Receive News & Ratings for Plug Power Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plug Power Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply