Plug Power (NASDAQ:PLUG) EVP Sells $29,200.00 in Stock

Plug Power, Inc. (NASDAQ:PLUG) EVP Benjamin Haycraft sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $2.92, for a total transaction of $29,200.00. Following the sale, the executive vice president directly owned 467,583 shares in the company, valued at $1,365,342.36. The trade was a 2.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Benjamin Haycraft also recently made the following trade(s):

• On Tuesday, September 16th, Benjamin Haycraft sold 10,972 shares of Plug Power stock. The shares were sold at an average price of $1.59, for a total transaction of $17,445.48.

Plug Power Stock Down 10.0%

PLUG stock opened at $2.24 on Friday. The firm has a market cap of $2.59 billion, a PE ratio of -0.97 and a beta of 2.28. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.59. The firm’s fifty day moving average is $2.71 and its 200 day moving average is $1.79. Plug Power, Inc. has a one year low of $0.69 and a one year high of $4.58.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Monday, November 10th. The electronics maker reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. The business had revenue of $177.06 million during the quarter, compared to the consensus estimate of $185.41 million. Plug Power has set its FY 2025 guidance at EPS. On average, research analysts forecast that Plug Power, Inc. will post -1.21 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PLUG shares. BMO Capital Markets lowered their price target on Plug Power from $1.10 to $1.00 and set an “underperform” rating on the stock in a research report on Tuesday, August 12th. HC Wainwright increased their target price on Plug Power from $3.00 to $7.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Wells Fargo & Company lifted their price target on shares of Plug Power from $1.00 to $1.50 and gave the company an “equal weight” rating in a research note on Thursday, August 14th. Wall Street Zen raised shares of Plug Power from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Canaccord Genuity Group increased their price objective on shares of Plug Power from $1.25 to $2.50 and gave the company a “hold” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $2.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PLUG. Heights Capital Management Inc. acquired a new stake in Plug Power in the 1st quarter valued at about $31,174,000. Two Sigma Investments LP grew its position in shares of Plug Power by 292.1% in the third 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. Vanguard Group Inc. increased its holdings in shares of Plug Power by 7.6% in the third quarter. Vanguard Group Inc. now owns 109,631,956 shares of the electronics maker’s stock valued at $255,442,000 after purchasing an additional 7,789,039 shares during the last quarter. Legal & General Group Plc lifted its position in Plug Power by 59.9% during the second quarter. Legal & General Group Plc now owns 16,980,865 shares of the electronics maker’s stock worth $25,301,000 after buying an additional 6,364,483 shares in the last quarter. Finally, Electron Capital Partners LLC acquired a new position in Plug Power during the third quarter worth $10,663,000. 43.48% of the stock is owned by institutional investors and hedge funds.

Plug Power Company Profile

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.