Insider Selling: Plug Power Inc (NASDAQ:PLUG) VP Sells 99,999 Shares of Stock
Plug Power Inc (NASDAQ:PLUG) VP Gerard L. Conway, Jr. sold 99,999 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $4.26, for a total transaction of $425,995.74. Following the sale, the vice president now directly owns 62,961 shares of the company’s stock, valued at approximately $268,213.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Plug Power stock traded up $0.16 during midday trading on Wednesday, reaching $4.20. The company had a trading volume of 11,229,132 shares, compared to its average volume of 19,638,391. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -11.67 and a beta of 1.56. The stock has a fifty day simple moving average of $3.39 and a 200 day simple moving average of $2.75. Plug Power Inc has a 1-year low of $1.31 and a 1-year high of $4.42.
Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Thursday, November 7th. The electronics maker reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The company had revenue of $56.38 million during the quarter, compared to analyst estimates of $55.58 million. Plug Power had a negative net margin of 47.21% and a negative return on equity of 6,429.00%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.07) EPS. Equities research analysts expect that Plug Power Inc will post -0.35 earnings per share for the current year.
Several analysts have recently weighed in on PLUG shares. ValuEngine lowered shares of Plug Power from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. B. Riley reissued a “buy” rating and issued a $6.00 price target (up previously from $3.50) on shares of Plug Power in a report on Monday, November 25th. Cowen set a $3.00 price target on shares of Plug Power and gave the company a “buy” rating in a report on Tuesday, September 17th. Roth Capital raised shares of Plug Power from a “neutral” rating to a “buy” rating and raised their price target for the company from $3.00 to $6.00 in a report on Monday, November 11th. Finally, Zacks Investment Research lowered shares of Plug Power from a “hold” rating to a “sell” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Plug Power currently has an average rating of “Buy” and an average price target of $4.50.
Plug Power Company Profile
Plug Power Inc, an alternative energy technology provider, engages in the design, development, manufacture, and commercialization 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.
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