Insider Buying: Plug Power (NASDAQ:PLUG) Insider Acquires $87,282.00 in Stock

by · The Cerbat Gem

Plug Power, Inc. (NASDAQ:PLUG – Get Free Report) insider Jose Luis Crespo bought 37,300 shares of Plug Power stock in a transaction dated Monday, December 15th. The shares were bought at an average cost of $2.34 per share, with a total value of $87,282.00. Following the completion of the transaction, the insider directly owned 307,332 shares in the company, valued at approximately $719,156.88. This trade represents a 13.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Plug Power Price Performance

Plug Power stock opened at $2.20 on Friday. The business’s 50 day simple moving average is $2.53 and its 200 day simple moving average is $2.01. Plug Power, Inc. has a 12 month low of $0.69 and a 12 month high of $4.58. The company has a market cap of $3.06 billion, a price-to-earnings ratio of -0.93 and a beta of 1.74. The company has a current ratio of 1.32, a quick ratio of 0.70 and a debt-to-equity ratio of 0.24.

Plug Power (NASDAQ:PLUG – Get Free Report) last issued its earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.01. The firm had revenue of $177.06 million for the quarter, compared to analyst estimates of $185.41 million. Plug Power had a negative return on equity of 105.98% and a negative net margin of 313.69%. Sell-side analysts forecast that Plug Power, Inc. will post -1.21 EPS for the current year.

Hedge Funds Weigh In On Plug Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kovack Advisors Inc. purchased a new stake in shares of Plug Power in the 3rd quarter valued at about $26,000. Sender Co & Partners Inc. bought a new position in shares of Plug Power in the second quarter worth approximately $26,000. Yousif Capital Management LLC bought a new position in shares of Plug Power in the third quarter worth approximately $27,000. Prakash Investment Advisors LLC purchased a new stake in Plug Power in the third quarter valued at approximately $27,000. Finally, O ROURKE & COMPANY Inc bought a new stake in Plug Power during the second quarter valued at approximately $30,000. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wall Street Zen cut shares of Plug Power from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Plug Power in a research report on Wednesday, October 8th. Susquehanna reduced their price target on Plug Power from $3.50 to $2.50 and set a “neutral” rating for the company in a research report on Monday, November 17th. Canaccord Genuity Group set a $7.00 price objective on Plug Power in a report on Monday, November 24th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Plug Power in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.80.

View Our Latest Analysis on Plug Power

About Plug Power

(Get Free Report)

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.

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