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

Plug Power, Inc. (NASDAQ:PLUG) insider Benjamin Haycraft sold 40,000 shares of the stock in a transaction on Monday, January 12th. The shares were sold at an average price of $2.17, for a total value of $86,800.00. Following the sale, the insider owned 333,809 shares of the company’s stock, valued at $724,365.53. This trade represents a 10.70% decrease in their position. 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 Wednesday, December 10th, Benjamin Haycraft sold 40,000 shares of Plug Power stock. The shares were sold at an average price of $2.20, for a total value of $88,000.00.
• On Monday, November 10th, Benjamin Haycraft sold 10,000 shares of Plug Power stock. The stock was sold at an average price of $2.92, for a total value of $29,200.00.

Plug Power Price Performance

PLUG stock opened at $2.35 on Thursday. Plug Power, Inc. has a one year low of $0.69 and a one year high of $4.58. The firm has a 50-day moving average of $2.19 and a two-hundred day moving average of $2.15. The firm has a market capitalization of $3.27 billion, a PE ratio of -0.99 and a beta of 1.68. The company has a current ratio of 1.32, a quick ratio of 0.70 and a debt-to-equity ratio of 0.24.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results 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 analyst estimates of $185.41 million. On average, analysts forecast that Plug Power, Inc. will post -1.21 earnings per share for the current year.

Institutional Investors Weigh In On Plug Power

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Plug Power by 7.6% during the third quarter. Vanguard Group Inc. now owns 109,631,956 shares of the electronics maker’s stock worth $255,442,000 after buying an additional 7,789,039 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Plug Power by 14.9% during the 2nd quarter. Geode Capital Management LLC now owns 24,071,904 shares of the electronics maker’s stock valued at $35,872,000 after acquiring an additional 3,125,542 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Plug Power by 4.2% during the 3rd quarter. Legal & General Group Plc now owns 17,695,077 shares of the electronics maker’s stock valued at $41,230,000 after acquiring an additional 714,212 shares during the last quarter. Two Sigma Investments LP lifted its holdings 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 purchasing an additional 8,068,713 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Plug Power by 18.9% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,545,805 shares of the electronics maker’s stock worth $22,179,000 after purchasing an additional 1,518,724 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

Wall Street Analysts Forecast Growth

PLUG has been the subject of a number of research reports. Wall Street Zen lowered Plug Power from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Canaccord Genuity Group set a $7.00 price target on shares of Plug Power in a report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Plug Power in a research note on Wednesday, October 8th. Morgan Stanley reissued an “underweight” rating and set a $1.50 target price on shares of Plug Power in a research note on Thursday, October 16th. Finally, Susquehanna dropped their price target on shares of Plug Power from $3.50 to $2.50 and set a “neutral” rating on the stock in a research note on Monday, November 17th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2.73.

About Plug Power

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.