Plug Power (NASDAQ:PLUG) Insider Benjamin Haycraft Sells 13,810 Shares of Stock

Plug Power, Inc. (NASDAQ:PLUG) insider Benjamin Haycraft sold 13,810 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $2.14, for a total transaction of $29,553.40. Following the sale, the insider directly owned 319,999 shares of the company’s stock, valued at $684,797.86. The trade was a 4.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 shares were sold at an average price of $2.06, for a total transaction of $38,625.00.

Plug Power Trading Down 0.5%

NASDAQ PLUG opened at $2.05 on Wednesday. Plug Power, Inc. has a 12 month low of $1.55 and a 12 month high of $4.58. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.32 and a quick ratio of 1.32. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -1.63 and a beta of 2.21. The company’s fifty day moving average price is $2.17 and its two-hundred day moving average price is $2.62.

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

Hedge Funds Weigh In On Plug Power

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of Plug Power by 21.0% during the 2nd quarter. BlackRock Inc. now owns 184,032,469 shares of the electronics maker’s stock worth $498,728,000 after purchasing an additional 31,939,194 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Plug Power by 97.4% in the 1st quarter. Renaissance Technologies LLC now owns 27,738,500 shares of the electronics maker’s stock worth $62,689,000 after purchasing an additional 13,685,900 shares during the last quarter. Handelsbanken Fonder AB boosted its position in Plug Power by 446.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 19,014,270 shares of the electronics maker’s stock valued at $51,529,000 after purchasing an additional 15,537,320 shares during the period. Dimensional Fund Advisors LP boosted its position in Plug Power by 241.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,134,913 shares of the electronics maker’s stock valued at $40,971,000 after purchasing an additional 12,820,616 shares during the period. Finally, Van ECK Associates Corp grew its stake in Plug Power by 5.6% during the 2nd quarter. Van ECK Associates Corp now owns 5,548,968 shares of the electronics maker’s stock worth $15,038,000 after buying an additional 293,529 shares during the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on PLUG. Morgan Stanley upped their price objective on Plug Power from $1.50 to $1.65 and gave the company an “underweight” rating in a research note on Thursday, July 9th. Jefferies Financial Group raised Plug Power to a “hold” rating in a research report on Thursday, September 3rd. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Plug Power in a research note on Tuesday, August 11th. Oppenheimer reaffirmed a “market perform” rating on shares of Plug Power in a report on Tuesday, August 11th. Finally, Weiss Ratings lowered shares of Plug Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.