Plug Power (NASDAQ:PLUG) Insider Benjamin Haycraft Sells 18,750 Shares

Plug Power, Inc. (NASDAQ:PLUG) insider Benjamin Haycraft sold 18,750 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $2.06, for a total value of $38,625.00. Following the transaction, the insider directly owned 301,249 shares of the company’s stock, valued at $620,572.94. This represents a 5.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Stock Down 0.5%

Shares of Plug Power stock opened at $2.05 on Wednesday. The firm has a market cap of $2.86 billion, a PE ratio of -1.63 and a beta of 2.21. The business’s 50 day simple moving average is $2.17 and its 200 day simple moving average is $2.62. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.32 and a current ratio of 2.32. Plug Power, Inc. has a 52-week low of $1.55 and a 52-week high of $4.58.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Monday, August 10th. The electronics maker reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $178.30 million during 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 for the quarter was up 2.5% on a year-over-year basis. On average, analysts predict that Plug Power, Inc. will post -0.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PLUG shares. Oppenheimer reaffirmed a “market perform” rating on shares of Plug Power in a research report on Tuesday, August 11th. Susquehanna cut their price target 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. Wells Fargo & Company increased their price objective on shares of Plug Power from $2.00 to $2.50 and gave the stock an “equal weight” rating in a research note on Tuesday, May 19th. Wall Street Zen cut Plug Power from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Finally, UBS Group restated a “buy” rating and issued a $5.00 price objective on shares of Plug Power in a report on Tuesday, August 11th. Two 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, Plug Power presently has a consensus rating of “Hold” and an average target price of $3.59.

Hedge Funds Weigh In On Plug Power

Several hedge funds and other institutional investors have recently made changes to their positions in PLUG. Ameritas Advisory Services LLC bought a new stake in Plug Power during the second quarter worth $25,000. DUTCH ASSET Corp bought a new position in shares of Plug Power in the 4th quarter valued at about $29,000. Greenleaf Trust bought a new position in shares of Plug Power in the 2nd quarter valued at about $29,000. Independent Advisor Alliance bought a new position in shares of Plug Power in the 4th quarter valued at about $30,000. Finally, International Assets Investment Management LLC increased its stake in shares of Plug Power by 53.6% during the 4th quarter. International Assets Investment Management LLC now owns 15,773 shares of the electronics maker’s stock worth $31,000 after purchasing an additional 5,503 shares during the last quarter. 43.48% of the stock is owned by institutional investors.

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.