Plug Power Inc (NASDAQ:PLUG) insider Gerard L. Conway, Jr. sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $1.86, for a total value of $186,000.00. Following the transaction, the insider now owns 110,519 shares of the company’s stock, valued at approximately $205,565.34. The transaction was disclosed in a document filed with the SEC, which is available through this link.
NASDAQ PLUG traded down $0.07 on Friday, reaching $1.87. 2,939,216 shares of the stock traded hands, compared to its average volume of 2,178,950. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 4.16. Plug Power Inc has a 12 month low of $1.53 and a 12 month high of $2.62.
Plug Power (NASDAQ:PLUG) last issued its earnings results on Thursday, November 8th. The electronics maker reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.01. The business had revenue of $55.30 million during the quarter, compared to analyst estimates of $50.44 million. Plug Power had a negative return on equity of 108.78% and a negative net margin of 66.16%. Plug Power’s revenue was down 10.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) EPS. As a group, sell-side analysts expect that Plug Power Inc will post -0.35 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Odey Asset Management Group Ltd raised its position in shares of Plug Power by 90.3% in the 2nd quarter. Odey Asset Management Group Ltd now owns 4,910,000 shares of the electronics maker’s stock worth $9,918,000 after acquiring an additional 2,330,000 shares in the last quarter. Nomura Holdings Inc. raised its position in shares of Plug Power by 67.2% in the 2nd quarter. Nomura Holdings Inc. now owns 369,608 shares of the electronics maker’s stock worth $747,000 after acquiring an additional 148,511 shares in the last quarter. LPL Financial LLC purchased a new position in Plug Power during the 1st quarter worth $270,000. BlackRock Inc. grew its stake in Plug Power by 1.0% during the 1st quarter. BlackRock Inc. now owns 14,499,641 shares of the electronics maker’s stock worth $27,404,000 after buying an additional 142,606 shares during the last quarter. Finally, Global X Management Co LLC purchased a new position in Plug Power during the 2nd quarter worth $266,000. 30.51% of the stock is owned by institutional investors and hedge funds.
PLUG has been the subject of a number of recent research reports. CIBC initiated coverage on Plug Power in a report on Thursday, August 23rd. They issued an “outperform” rating and a $2.50 target price for the company. ValuEngine cut Plug Power from a “buy” rating to a “hold” rating in a report on Tuesday, August 28th. HC Wainwright set a $4.00 target price on Plug Power and gave the stock a “buy” rating in a report on Tuesday, October 16th. Cowen set a $3.00 target price on Plug Power and gave the stock a “buy” rating in a report on Tuesday, October 16th. Finally, BidaskClub lowered Plug Power from a “buy” rating to a “hold” rating in a research note on Saturday, July 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Plug Power currently has a consensus rating of “Buy” and a consensus target price of $3.29.
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Plug Power Company Profile
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.
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