Key Points
- Benjamin Haycraft sold 10,000 Plug Power shares on Oct. 10 at $3.80 for $38,000, reducing his stake to 457,583 shares (a 2.14% decrease).
- Haycraft has made multiple recent dispositions — 40,000 shares on Dec. 10 at $2.20, 10,000 on Nov. 10 at $2.92, and 10,972 on Sept. 16 at $1.59 — totaling 70,972 shares for roughly $172.6k, signaling ongoing insider selling.
- For context, PLUG trades near $2.32 (down 1.7%), has a $3.23 billion market cap, and carries a MarketBeat consensus rating of "Hold" with a $2.80 price target amid mixed analyst views.
Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) insider Benjamin Haycraft sold 10,000 shares of the firm's stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $3.80, for a total value of $38,000.00. Following the completion of the transaction, the insider directly owned 457,583 shares in the company, valued at $1,738,815.40. The trade was a 2.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
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 transaction 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 transaction 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 transaction of $17,445.48.
Plug Power Stock Down 1.7%
Shares of PLUG stock opened at $2.32 on Friday. 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, Inc. has a 12 month low of $0.69 and a 12 month high of $4.58. The stock has a market cap of $3.23 billion, a P/E ratio of -0.98 and a beta of 1.74. The company has a 50 day simple moving average of $2.68 and a two-hundred day simple moving average of $1.96.
Plug Power (NASDAQ:PLUG - Get Free Report) 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. The firm had revenue of $177.06 million during the quarter, compared to the consensus estimate of $185.41 million. Plug Power had a negative net margin of 313.69% and a negative return on equity of 105.98%. On average, research analysts expect that Plug Power, Inc. will post -1.21 earnings per share for the current year.
Wall Street Analyst Weigh In
PLUG has been the subject of a number of analyst reports. HC Wainwright restated a "buy" rating and issued a $7.00 price target on shares of Plug Power in a research 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. Canaccord Genuity Group set a $7.00 target price on shares of Plug Power in a report on Monday, November 24th. Cowen reaffirmed a "buy" rating on shares of Plug Power in a report on Wednesday, November 19th. Finally, Morgan Stanley reiterated an "underweight" rating and issued a $1.50 price target on shares of Plug Power in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $2.80.
Get Our Latest Analysis on Plug Power
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in PLUG. Profund Advisors LLC boosted its stake in Plug Power by 24.4% in the 3rd quarter. Profund Advisors LLC now owns 20,188 shares of the electronics maker's stock worth $47,000 after purchasing an additional 3,961 shares during the period. SlateStone Wealth LLC lifted its holdings in shares of Plug Power by 16.0% in the third quarter. SlateStone Wealth LLC now owns 29,077 shares of the electronics maker's stock worth $68,000 after buying an additional 4,000 shares in the last quarter. Signature Estate & Investment Advisors LLC boosted its position in shares of Plug Power by 33.4% during the third quarter. Signature Estate & Investment Advisors LLC now owns 18,414 shares of the electronics maker's stock worth $43,000 after acquiring an additional 4,615 shares during the last quarter. Mackenzie Financial Corp grew its stake in Plug Power by 10.6% during the third quarter. Mackenzie Financial Corp now owns 58,098 shares of the electronics maker's stock valued at $135,000 after acquiring an additional 5,584 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in Plug Power by 31.8% during the second quarter. QRG Capital Management Inc. now owns 25,014 shares of the electronics maker's stock valued at $37,000 after acquiring an additional 6,039 shares in the last quarter. 43.48% of the stock is owned by hedge funds and other institutional investors.
About Plug Power
(
Get Free Report)
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.
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