Key Points
- Benjamin Haycraft sold 40,000 shares of Plug Power on Jan. 12 at an average price of $2.17 for $86,800, reducing his position by 10.7% to 333,809 shares (valued around $724,366).
- Haycraft has made multiple recent sales — 40,000 shares on Dec. 10 at $2.20 and 10,000 shares on Nov. 10 at $2.92 — suggesting a continued pattern of insider dispositions.
- Plug Power has a $3.27 billion market cap, trades near its 50- and 200-day averages (~$2.19/$2.15), reports negative earnings/margins, and carries a consensus analyst rating of Hold with a $2.73 price target.
Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) insider Benjamin Haycraft sold 40,000 shares of Plug Power stock in a transaction on Monday, January 12th. The stock was sold at an average price of $2.17, for a total transaction of $86,800.00. Following the completion of the transaction, the insider owned 333,809 shares in the company, valued at $724,365.53. This trade represents a 10.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 Stock Performance
PLUG opened at $2.35 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.32 and a debt-to-equity ratio of 0.24. The stock's 50 day moving average price is $2.19 and its two-hundred day moving average price is $2.15. The firm has a market capitalization of $3.27 billion, a P/E ratio of -0.99 and a beta of 1.68. Plug Power, Inc. has a 12-month low of $0.69 and a 12-month high of $4.58.
Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings results on Monday, November 10th. The electronics maker reported ($0.12) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.01. Plug Power had a negative return on equity of 105.98% and a negative net margin of 313.69%.The company had revenue of $177.06 million during the quarter, compared to analyst estimates of $185.41 million. On average, equities analysts forecast that Plug Power, Inc. will post -1.21 earnings per share for the current year.
Hedge Funds Weigh In On Plug Power
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake 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 raised its stake in shares of Plug Power by 14.9% in the second 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 grew its position in 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 worth $41,230,000 after acquiring an additional 714,212 shares during the last quarter. Two Sigma Investments LP increased its holdings in Plug Power by 292.1% during the 3rd quarter. Two Sigma Investments LP now owns 10,830,893 shares of the electronics maker's stock valued at $25,236,000 after purchasing an additional 8,068,713 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Plug Power by 18.9% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,545,805 shares of the electronics maker's stock valued at $22,179,000 after purchasing an additional 1,518,724 shares during the last quarter. 43.48% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on PLUG. HC Wainwright reiterated a "buy" rating and issued a $7.00 target price on shares of Plug Power in a research note on Monday, November 24th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Plug Power in a research report on Wednesday, October 8th. Cowen lowered Plug Power from a "buy" rating to a "hold" rating in a report on Friday, January 9th. Morgan Stanley restated an "underweight" rating and issued a $1.50 target price on shares of Plug Power in a research note on Thursday, October 16th. Finally, Wall Street Zen downgraded shares of Plug Power from a "hold" rating to a "sell" rating in a research note on Sunday, November 16th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Plug Power presently has a consensus rating of "Hold" and a consensus price target of $2.73.
Check Out Our Latest Stock Report on Plug Power
About Plug Power
(
Get Free Report)
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.
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