Plug Power (NASDAQ:PLUG) Insider Benjamin Haycraft Sells 40,000 Shares

Plug Power, Inc. (NASDAQ:PLUG) insider Benjamin Haycraft sold 40,000 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $2.20, for a total transaction of $88,000.00. Following the transaction, the insider directly owned 373,809 shares of the company’s stock, valued at approximately $822,379.80. This trade represents a 9.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Benjamin Haycraft also recently made the following trade(s):

• On Friday, October 10th, Benjamin Haycraft sold 10,000 shares of Plug Power stock. The shares were sold at an average price of $3.80, for a total value of $38,000.00.
• On Monday, November 10th, Benjamin Haycraft sold 10,000 shares of Plug Power stock. The shares were 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 Trading Down 1.7%

Shares of PLUG traded down $0.04 during mid-day trading on Friday, hitting $2.32. 114,210,517 shares of the company’s stock traded hands, compared to its average volume of 96,909,438. The company has a quick ratio of 0.70, a current ratio of 1.32 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $3.23 billion, a P/E ratio of -0.98 and a beta of 1.74. The business’s 50-day moving average price is $2.71 and its 200-day moving average price is $1.95. Plug Power, Inc. has a 1 year low of $0.69 and a 1 year high of $4.58.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Monday, November 10th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. Plug Power had a negative net margin of 313.69% and a negative return on equity of 105.98%. The business had revenue of $177.06 million for the quarter, compared to the consensus estimate of $185.41 million. As a group, sell-side analysts forecast that Plug Power, Inc. will post -1.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Heights Capital Management Inc. purchased a new stake in shares of Plug Power during the first quarter valued at $31,174,000. Two Sigma Investments LP raised its position in Plug Power by 292.1% in the 3rd quarter. Two Sigma Investments LP now owns 10,830,893 shares of the electronics maker’s stock worth $25,236,000 after buying an additional 8,068,713 shares during the last quarter. Vanguard Group Inc. lifted its stake in Plug Power by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 109,631,956 shares of the electronics maker’s stock valued at $255,442,000 after acquiring an additional 7,789,039 shares during the period. Legal & General Group Plc boosted its holdings in shares of Plug Power by 59.9% during the 2nd quarter. Legal & General Group Plc now owns 16,980,865 shares of the electronics maker’s stock valued at $25,301,000 after acquiring an additional 6,364,483 shares during the last quarter. Finally, Electron Capital Partners LLC purchased a new stake in shares of Plug Power during the 3rd quarter valued at about $10,663,000. Institutional investors own 43.48% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PLUG. Wall Street Zen downgraded shares of Plug Power from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Morgan Stanley reiterated an “underweight” rating and set a $1.50 target price on shares of Plug Power in a report on Thursday, October 16th. Susquehanna lowered their target price 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. Canaccord Genuity Group set a $7.00 price target on Plug Power in a research report on Monday, November 24th. Finally, Cowen reiterated a “buy” rating on shares of Plug Power in a report on Wednesday, November 19th. One investment 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.80.

About Plug Power

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.