Plug Power, Inc. (NASDAQ:PLUG – Get Free Report) insider Benjamin Haycraft sold 13,810 shares of Plug Power stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $2.14, for a total value of $29,553.40. Following the completion of the transaction, the insider directly owned 319,999 shares in the company, valued at $684,797.86. This represents a 4.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 stock was sold at an average price of $2.06, for a total transaction of $38,625.00.
Plug Power Trading Down 1.5%
NASDAQ PLUG opened at $2.02 on Thursday. Plug Power, Inc. has a one year low of $1.69 and a one year high of $4.58. The company’s 50 day moving average price is $2.16 and its 200 day moving average price is $2.62. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.32 and a current ratio of 2.32. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of -1.60 and a beta of 2.21.
Institutional Investors Weigh In On Plug Power
Large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in Plug Power by 9.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 702,003 shares of the electronics maker’s stock worth $1,902,000 after buying an additional 63,074 shares in the last quarter. Tidal Investments LLC boosted its position in Plug Power by 79.9% in the 2nd quarter. Tidal Investments LLC now owns 187,591 shares of the electronics maker’s stock valued at $508,000 after buying an additional 83,314 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Plug Power during the second quarter valued at about $145,000. Baird Financial Group Inc. grew its stake in shares of Plug Power by 28.7% during the second quarter. Baird Financial Group Inc. now owns 1,395,068 shares of the electronics maker’s stock valued at $3,781,000 after acquiring an additional 310,821 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of Plug Power by 76.5% during the second quarter. Allworth Financial LP now owns 18,614 shares of the electronics maker’s stock worth $50,000 after acquiring an additional 8,067 shares during the last quarter. 43.48% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
PLUG has been the subject of a number of research reports. Susquehanna decreased their price target on shares of Plug Power from $3.75 to $2.50 and set a “neutral” rating for the company in a research report on Friday, July 10th. Craig Hallum reissued a “buy” rating on shares of Plug Power in a research report on Tuesday, August 11th. 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 reiterated a “market perform” rating on shares of Plug Power in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group upgraded Plug Power to a “hold” rating in a report on Thursday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Plug Power 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.
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