Key Points
- Plug Power insider Benjamin Haycraft sold 200,000 shares at an average price of $2.14, generating $428,000 and reducing his direct ownership by 66.39%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Plug Power recently reported a quarterly loss of $0.07 per share, beating estimates by $0.01, while revenue of $178.3 million exceeded expectations and rose 2.5% year over year. Analysts expect a full-year loss of approximately $0.26 per share.
- Wall Street’s consensus rating is “Hold”, with an average price target of $3.59; analyst views range from Strong Buy to Sell. The stock opened at $2.11 and remains below its 200-day moving average of $2.62.
Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) insider Benjamin Haycraft sold 200,000 shares of the stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $2.14, for a total transaction of $428,000.00. Following the completion of the transaction, the insider directly owned 101,249 shares in the company, valued at $216,672.86. The trade was a 66.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $38,625.00.
- On Friday, September 11th, Benjamin Haycraft sold 13,810 shares of Plug Power stock. The shares were sold at an average price of $2.14, for a total transaction of $29,553.40.
Plug Power Stock Up 1.0%
Plug Power stock opened at $2.11 on Wednesday. The company's 50-day moving average price is $2.15 and its two-hundred day moving average price is $2.62. 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 has a market cap of $2.95 billion, a P/E ratio of -1.67 and a beta of 2.21. Plug Power, Inc. has a twelve month low of $1.70 and a twelve month high of $4.58.
Plug Power (NASDAQ:PLUG - Get Free Report) last posted its earnings results on Monday, August 10th. The electronics maker reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. The company had revenue of $178.30 million for the quarter, compared to the consensus estimate of $169.11 million. Plug Power had a negative return on equity of 56.01% and a negative net margin of 220.59%.The company's revenue was up 2.5% compared to the same quarter last year. As a group, analysts expect that Plug Power, Inc. will post -0.26 EPS for the current year.
Wall Street Analyst Weigh In
Several research firms recently commented on PLUG. Jefferies Financial Group upgraded shares of Plug Power to a "hold" rating in a research note on Thursday, September 3rd. HC Wainwright reissued a "buy" rating and issued a $7.00 price objective on shares of Plug Power in a report on Tuesday, August 11th. Susquehanna decreased their target price on shares of Plug Power from $3.75 to $2.50 and set a "neutral" rating on the stock in a research report on Friday, July 10th. Craig Hallum reaffirmed a "buy" rating on shares of Plug Power in a report on Tuesday, August 11th. Finally, Weiss Ratings downgraded shares of Plug Power from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Plug Power currently has a consensus rating of "Hold" and a consensus price target of $3.59.
Get Our Latest Stock Analysis on PLUG
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of PLUG. Ameritas Advisory Services LLC acquired a new stake in Plug Power during the second quarter worth about $25,000. DUTCH ASSET Corp acquired a new position in shares of Plug Power in the 4th quarter valued at approximately $29,000. Greenleaf Trust acquired a new position in shares of Plug Power in the 2nd quarter valued at approximately $29,000. Sustainable Insight Capital Management LLC bought a new stake in shares of Plug Power during the 4th quarter worth approximately $31,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Plug Power by 75.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,733 shares of the electronics maker's stock worth $38,000 after acquiring an additional 7,191 shares during the period. Institutional investors and hedge funds own 43.48% of the company's stock.
About Plug Power
(
Get Free Report)
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.
Further Reading
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