Plug Power Inc (NASDAQ:PLUG) CEO Andrew Marsh acquired 12,286 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $2.44 per share, for a total transaction of $29,977.84. Following the acquisition, the chief executive officer now owns 465,145 shares of the company’s stock, valued at approximately $1,134,953.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
NASDAQ:PLUG traded down $0.22 during mid-day trading on Friday, reaching $2.37. 245,319 shares of the company’s stock traded hands, compared to its average volume of 4,009,841. Plug Power Inc has a 12-month low of $0.99 and a 12-month high of $2.65. The company has a market cap of $555.47 million, a PE ratio of -6.74 and a beta of 1.72. The company has a debt-to-equity ratio of 10.93, a current ratio of 1.06 and a quick ratio of 0.60.
Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Thursday, March 7th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). Plug Power had a negative net margin of 42.87% and a negative return on equity of 224.02%. The business had revenue of $59.80 million for the quarter, compared to analysts’ expectations of $58.40 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The firm’s revenue for the quarter was up 77.4% on a year-over-year basis. Analysts expect that Plug Power Inc will post -0.23 EPS for the current fiscal year.
Several research analysts have recently commented on the company. Zacks Investment Research downgraded Plug Power from a “hold” rating to a “sell” rating in a report on Thursday. BidaskClub upgraded Plug Power from a “hold” rating to a “buy” rating in a report on Friday. Roth Capital upgraded Plug Power from a “sell” rating to a “neutral” rating and set a $1.30 price objective on the stock in a report on Wednesday, January 30th. B. Riley reiterated a “buy” rating and issued a $3.50 price objective on shares of Plug Power in a report on Thursday. Finally, ValuEngine upgraded Plug Power from a “hold” rating to a “buy” rating in a report on Friday, November 16th. One equities 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 company. The company presently has a consensus rating of “Buy” and a consensus price target of $2.58.
A number of large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in Plug Power during the 3rd quarter valued at approximately $121,000. KBC Group NV boosted its position in Plug Power by 3.8% during the 4th quarter. KBC Group NV now owns 524,923 shares of the electronics maker’s stock valued at $651,000 after acquiring an additional 19,138 shares in the last quarter. BlackRock Inc. boosted its position in Plug Power by 0.8% during the 3rd quarter. BlackRock Inc. now owns 14,741,256 shares of the electronics maker’s stock valued at $28,301,000 after acquiring an additional 116,133 shares in the last quarter. Bruderman Asset Management LLC bought a new stake in Plug Power during the 4th quarter valued at approximately $186,000. Finally, Vanguard Group Inc. boosted its position in Plug Power by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 10,460,068 shares of the electronics maker’s stock valued at $20,082,000 after acquiring an additional 194,903 shares in the last quarter. Institutional investors own 26.86% 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.
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