Plug Power Inc (PLUG) Insider Sells $186,000.00 in Stock

Plug Power Inc (NASDAQ:PLUG) insider Gerard L. Conway, Jr. sold 100,000 shares of Plug Power stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $1.86, for a total transaction of $186,000.00. Following the transaction, the insider now directly owns 110,519 shares in the company, valued at approximately $205,565.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of Plug Power stock traded up $0.01 on Wednesday, hitting $1.93. 2,468,700 shares of the company traded hands, compared to its average volume of 3,265,716. The stock has a market cap of $412.41 million, a P/E ratio of -3.16 and a beta of 1.08. The company has a debt-to-equity ratio of 4.16, a current ratio of 1.07 and a quick ratio of 0.69. Plug Power Inc has a 52 week low of $1.53 and a 52 week high of $3.21.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Thursday, August 9th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The company had revenue of $39.93 million for the quarter, compared to the consensus estimate of $40.52 million. Plug Power had a negative net margin of 66.16% and a negative return on equity of 108.78%. The company’s quarterly revenue was up 76.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.10) EPS. As a group, equities analysts expect that Plug Power Inc will post -0.19 EPS for the current year.

Several brokerages have weighed in on PLUG. ValuEngine raised shares of Plug Power from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research raised shares of Plug Power from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a report on Tuesday. BidaskClub raised shares of Plug Power from a “strong sell” rating to a “sell” rating in a report on Tuesday. HC Wainwright set a $4.00 price objective on shares of Plug Power and gave the company a “buy” rating in a research report on Friday, August 10th. Finally, Cowen set a $3.00 price objective on shares of Plug Power and gave the company a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $3.29.

Several institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp raised its position in shares of Plug Power by 1.3% during the first quarter. Northern Trust Corp now owns 2,649,873 shares of the electronics maker’s stock valued at $5,008,000 after buying an additional 33,445 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Plug Power by 3.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,168,416 shares of the electronics maker’s stock valued at $2,209,000 after buying an additional 35,299 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Plug Power by 183.4% during the second quarter. Metropolitan Life Insurance Co. NY now owns 73,495 shares of the electronics maker’s stock valued at $148,000 after buying an additional 47,559 shares during the last quarter. MetLife Investment Advisors LLC raised its position in shares of Plug Power by 100.0% during the first quarter. MetLife Investment Advisors LLC now owns 107,957 shares of the electronics maker’s stock valued at $204,000 after buying an additional 53,968 shares during the last quarter. Finally, UBS Group AG raised its position in shares of Plug Power by 122.6% during the first quarter. UBS Group AG now owns 150,221 shares of the electronics maker’s stock valued at $284,000 after buying an additional 82,741 shares during the last quarter. Hedge funds and other institutional investors own 30.46% of the company’s stock.

About Plug Power

Plug Power Inc, an alternative energy technology provider, engages in the design, development, commercialization, and manufacture of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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