Plug Power (NASDAQ:PLUG) Insider Benjamin Haycraft Sells 40,000 Shares
by Scott Moore · The Cerbat GemPlug Power, Inc. (NASDAQ:PLUG – Get Free Report) insider Benjamin Haycraft sold 40,000 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $2.20, for a total value of $88,000.00. Following the transaction, the insider directly owned 373,809 shares in the company, valued at $822,379.80. The trade was a 9.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Benjamin Haycraft also recently made the following trade(s):
- On Friday, October 10th, Benjamin Haycraft sold 10,000 shares of Plug Power stock. The stock was sold at an average price of $3.80, for a total value of $38,000.00.
- On Monday, November 10th, Benjamin Haycraft sold 10,000 shares of Plug Power stock. The stock was sold at an average price of $2.92, for a total value of $29,200.00.
- On Tuesday, September 16th, Benjamin Haycraft sold 10,972 shares of Plug Power stock. The stock was sold at an average price of $1.59, for a total transaction of $17,445.48.
Plug Power Stock Performance
Shares of PLUG opened at $2.32 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.70. The company’s fifty day moving average price is $2.68 and its 200 day moving average price is $1.96. The company has a market capitalization of $3.23 billion, a PE ratio of -0.98 and a beta of 1.74. Plug Power, Inc. has a one year low of $0.69 and a one year high of $4.58.
Plug Power (NASDAQ:PLUG – Get Free Report) last issued its quarterly earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The business had revenue of $177.06 million during the quarter, compared to analyst estimates of $185.41 million. Plug Power had a negative net margin of 313.69% and a negative return on equity of 105.98%. As a group, analysts expect that Plug Power, Inc. will post -1.21 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research firms have commented on PLUG. Morgan Stanley restated an “underweight” rating and set a $1.50 price objective on shares of Plug Power in a research note on Thursday, October 16th. Cowen restated a “buy” rating on shares of Plug Power in a research report on Wednesday, November 19th. Susquehanna cut their target price on Plug Power from $3.50 to $2.50 and set a “neutral” rating for the company in a research note on Monday, November 17th. Hsbc Global Res upgraded Plug Power to a “strong-buy” rating in a research note on Thursday, October 9th. Finally, Canaccord Genuity Group set a $7.00 price objective on Plug Power in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.80.
Get Our Latest Research Report on PLUG
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in PLUG. Kovack Advisors Inc. bought a new position in Plug Power during the 3rd quarter valued at approximately $26,000. Sender Co & Partners Inc. purchased a new stake in Plug Power during the second quarter valued at $26,000. Yousif Capital Management LLC bought a new position in shares of Plug Power in the 3rd quarter worth approximately $27,000. Prakash Investment Advisors LLC purchased a new position in shares of Plug Power during the 3rd quarter worth $27,000. Finally, O ROURKE & COMPANY Inc bought a new stake in Plug Power during the second quarter valued at about $30,000. Institutional investors own 43.48% of the company’s stock.
About Plug Power
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.