Plug Power (NASDAQ:PLUG) Insider Benjamin Haycraft Sells 9,375 Shares of Company Stock

Plug Power, Inc. (NASDAQ:PLUG) insider Benjamin Haycraft sold 9,375 shares of the firm’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $1.41, for a total value of $13,218.75. Following the sale, the insider directly owned 91,874 shares of the company’s stock, valued at $129,542.34. This represents a 9.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, September 18th, Benjamin Haycraft sold 200,000 shares of Plug Power stock. The stock was sold at an average price of $2.14, for a total transaction of $428,000.00.
• On Tuesday, September 15th, Benjamin Haycraft sold 18,750 shares of Plug Power stock. The shares were sold at an average price of $2.06, for a total transaction of $38,625.00.
• On Friday, September 11th, Benjamin Haycraft sold 13,810 shares of Plug Power stock. The shares were sold at an average price of $2.14, for a total transaction of $29,553.40.

Plug Power Stock Performance

Shares of NASDAQ PLUG traded down $0.01 during mid-day trading on Monday, reaching $1.37. 37,735,141 shares of the company were exchanged, compared to its average volume of 72,251,063. The company’s 50-day simple moving average is $2.03 and its 200-day simple moving average is $2.56. The company has a quick ratio of 1.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $1.91 billion, a P/E ratio of -1.09 and a beta of 2.28. Plug Power, Inc. has a twelve month low of $1.35 and a twelve month high of $4.33.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Monday, August 10th. The electronics maker reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. Plug Power had a negative net margin of 220.59% and a negative return on equity of 56.01%. The business had revenue of $178.30 million during the quarter, compared to the consensus estimate of $169.11 million. The business’s revenue was up 2.5% compared to the same quarter last year. As a group, research analysts predict that Plug Power, Inc. will post -0.25 earnings per share for the current year.

Analyst Ratings Changes

PLUG has been the subject of a number of research analyst reports. Oppenheimer restated a “market perform” rating on shares of Plug Power in a report on Tuesday, August 11th. Jefferies Financial Group upgraded Plug Power to a “hold” rating in a research note on Thursday, September 3rd. UBS Group reissued a “buy” rating and set a $5.00 price target on shares of Plug Power in a report on Tuesday, August 11th. Morgan Stanley restated an “underweight” rating and issued a $1.20 price target on shares of Plug Power in a research note on Wednesday, October 14th. Finally, HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Plug Power in a research note on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $3.40.

Institutional Trading of Plug Power

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in shares of Plug Power by 21.0% in the 2nd quarter. BlackRock Inc. now owns 184,032,469 shares of the electronics maker’s stock valued at $498,728,000 after buying an additional 31,939,194 shares in the last quarter. State Street Corp lifted its holdings in shares of Plug Power by 6.1% during the 2nd quarter. State Street Corp now owns 38,763,529 shares of the electronics maker’s stock worth $105,049,000 after acquiring an additional 2,214,427 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Plug Power by 97.4% during the 1st quarter. Renaissance Technologies LLC now owns 27,738,500 shares of the electronics maker’s stock worth $62,689,000 after acquiring an additional 13,685,900 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Plug Power by 446.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 19,014,270 shares of the electronics maker’s stock worth $51,529,000 after acquiring an additional 15,537,320 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Plug Power by 241.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,134,913 shares of the electronics maker’s stock worth $40,971,000 after acquiring an additional 12,820,616 shares in the last quarter. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Company Profile

Plug Power Inc is a clean-energy technology company that develops and supplies hydrogen and fuel-cell solutions. Its products include fuel-cell systems and engines for material-handling equipment, backup and stationary power, and other commercial and industrial applications. The company also provides electrolyzers for producing hydrogen, along with hydrogen generation, liquefaction, storage, and delivery services.

Plug Power serves customers in material handling, transportation, power generation, and industrial markets.