Plug Power (NASDAQ:PLUG) Insider Sells $38,625.00 in Stock

Plug Power, Inc. (NASDAQ:PLUG) insider Benjamin Haycraft sold 18,750 shares of Plug Power stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $2.06, for a total transaction of $38,625.00. Following the completion of the transaction, the insider owned 301,249 shares in the company, valued at approximately $620,572.94. This trade represents a 5.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 11th, Benjamin Haycraft sold 13,810 shares of Plug Power stock. The stock was sold at an average price of $2.14, for a total value of $29,553.40.

Plug Power Trading Up 5.0%

Shares of PLUG opened at $2.12 on Friday. The company has a current ratio of 2.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $2.96 billion, a P/E ratio of -1.68 and a beta of 2.21. The stock’s fifty day simple moving average is $2.16 and its 200 day simple moving average is $2.62. Plug Power, Inc. has a twelve month low of $1.70 and a twelve month high of $4.58.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Monday, August 10th. The electronics maker reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $178.30 million for the quarter, compared to analysts’ expectations of $169.11 million. Plug Power had a negative return on equity of 56.01% and a negative net margin of 220.59%.The business’s revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts forecast that Plug Power, Inc. will post -0.26 earnings per share for the current year.

Institutional Investors Weigh In On Plug Power

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Plug Power by 21.0% during the 2nd quarter. BlackRock Inc. now owns 184,032,469 shares of the electronics maker’s stock worth $498,728,000 after acquiring an additional 31,939,194 shares in the last quarter. Renaissance Technologies LLC grew its position in Plug Power by 97.4% in the first quarter. Renaissance Technologies LLC now owns 27,738,500 shares of the electronics maker’s stock valued at $62,689,000 after acquiring an additional 13,685,900 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Plug Power by 446.9% during the second quarter. Handelsbanken Fonder AB now owns 19,014,270 shares of the electronics maker’s stock valued at $51,529,000 after purchasing an additional 15,537,320 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Plug Power by 241.2% during the first quarter. Dimensional Fund Advisors LP now owns 18,134,913 shares of the electronics maker’s stock valued at $40,971,000 after purchasing an additional 12,820,616 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Plug Power by 5.6% during the second quarter. Van ECK Associates Corp now owns 5,548,968 shares of the electronics maker’s stock worth $15,038,000 after purchasing an additional 293,529 shares in the last quarter. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on PLUG shares. Wall Street Zen lowered shares of Plug Power from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Susquehanna decreased their price objective on shares of Plug Power from $3.75 to $2.50 and set a “neutral” rating for the company in a research note on Friday, July 10th. Roth Capital reissued a “buy” rating and issued a $5.00 price objective (up from $3.50) on shares of Plug Power in a research report on Wednesday, August 12th. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Plug Power in a research report on Tuesday, August 11th. Finally, Craig Hallum reissued a “buy” rating on shares of Plug Power in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.59.

About Plug Power

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.