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

Plug Power, Inc. (NASDAQ:PLUG) insider Benjamin Haycraft sold 18,750 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $2.06, for a total value of $38,625.00. Following the completion of the sale, the insider 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 sale was disclosed in a document filed with the SEC, which is accessible 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 Performance

Shares of Plug Power stock opened at $2.02 on Thursday. The firm has a market cap of $2.82 billion, a P/E ratio of -1.60 and a beta of 2.21. The company has a current ratio of 2.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.29. Plug Power, Inc. has a 12 month low of $1.69 and a 12 month high of $4.58. The stock’s fifty day moving average price is $2.16 and its 200-day moving average price is $2.62.

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

Institutional Trading of Plug Power

Hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Plug Power by 21.0% in the 2nd quarter. BlackRock Inc. now owns 184,032,469 shares of the electronics maker’s stock worth $498,728,000 after buying an additional 31,939,194 shares during the last quarter. Renaissance Technologies LLC lifted its position in Plug Power by 97.4% during 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 during the last quarter. Handelsbanken Fonder AB boosted its stake in Plug Power by 446.9% in the second quarter. Handelsbanken Fonder AB now owns 19,014,270 shares of the electronics maker’s stock valued at $51,529,000 after acquiring an additional 15,537,320 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Plug Power by 241.2% in 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 acquiring an additional 12,820,616 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Plug Power by 5.6% in 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 during the last quarter. 43.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Craig Hallum reaffirmed a “buy” rating on shares of Plug Power in a research report on Tuesday, August 11th. Roth Capital reissued a “buy” rating and set a $5.00 price objective (up from $3.50) on shares of Plug Power in a report on Wednesday, August 12th. Oppenheimer reissued a “market perform” rating on shares of Plug Power in a research note on Tuesday, August 11th. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Plug Power in a report on Tuesday, August 11th. Finally, Jefferies Financial Group raised Plug Power to a “hold” rating in a research report on Thursday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Plug Power presently has an average rating of “Hold” and a consensus target price of $3.59.

Plug Power Company Profile

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.