Insider Selling: Plug Power (NASDAQ:PLUG) Insider Sells 13,810 Shares of Stock

Plug Power, Inc. (NASDAQ:PLUG) insider Benjamin Haycraft sold 13,810 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $2.14, for a total value of $29,553.40. Following the transaction, the insider directly owned 319,999 shares of the company’s stock, valued at $684,797.86. This trade represents a 4.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 15th, Benjamin Haycraft sold 18,750 shares of Plug Power stock. The stock was sold at an average price of $2.06, for a total value of $38,625.00.

Plug Power Stock Performance

PLUG stock traded down $0.01 during mid-day trading on Tuesday, reaching $2.05. The company had a trading volume of 42,982,659 shares, compared to its average volume of 75,134,359. Plug Power, Inc. has a one year low of $1.55 and a one year high of $4.58. The stock has a market capitalization of $2.86 billion, a P/E ratio of -1.63 and a beta of 2.21. 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’s 50-day simple moving average is $2.18 and its two-hundred day simple moving average is $2.62.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Monday, August 10th. The electronics maker reported ($0.07) earnings per share for the quarter, beating 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 firm had revenue of $178.30 million for the quarter, compared to the consensus estimate of $169.11 million. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. Research analysts anticipate that Plug Power, Inc. will post -0.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PLUG shares. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Plug Power in a research note on Tuesday, August 11th. Weiss Ratings lowered Plug Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Wells Fargo & Company boosted their price target on shares of Plug Power from $2.00 to $2.50 and gave the stock an “equal weight” rating in a research report on Tuesday, May 19th. Roth Capital reiterated a “buy” rating and issued a $5.00 target price (up from $3.50) on shares of Plug Power in a report on Wednesday, August 12th. Finally, Morgan Stanley raised their target price on shares of Plug Power from $1.50 to $1.65 and gave the stock an “underweight” rating in a report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $3.59.

Institutional Investors Weigh In On Plug Power

A number of large investors have recently made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new position in Plug Power during the 2nd quarter worth approximately $25,000. DUTCH ASSET Corp acquired a new stake in shares of Plug Power in the fourth quarter worth $29,000. Greenleaf Trust purchased a new position in shares of Plug Power during the second quarter valued at $29,000. Independent Advisor Alliance acquired a new position in Plug Power during the fourth quarter valued at $30,000. Finally, International Assets Investment Management LLC lifted its stake in Plug Power by 53.6% in the 4th quarter. International Assets Investment Management LLC now owns 15,773 shares of the electronics maker’s stock worth $31,000 after acquiring an additional 5,503 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 hydrogen and fuel cell technology company that develops integrated solutions for generating, storing, distributing and using hydrogen. The company serves commercial and industrial customers seeking alternatives to conventional power sources and fossil fuels.

Its product portfolio includes electrolyzers for producing hydrogen from water, hydrogen-generation and storage systems, fuel cell engines, and stationary power systems. Plug Power also provides hydrogen-fueled material-handling equipment, including systems used to power forklifts and other warehouse vehicles, along with related infrastructure, service and maintenance offerings.

Founded in 1997 and headquartered in Latham, New York, Plug Power has focused on expanding hydrogen applications across logistics, material handling, backup and distributed power, transportation, and industrial markets.