GC, Corp Secretary & Senior VP Conway Gerard L Jr sold 100,000 shares in Plug Power Inc. (NASDAQ:PLUG) for $10,519 in transaction occurred on 2018/10/15. After making this transaction, the GC, Corp Secretary & Senior VP owns a direct stake of 186,000 shares, worth $15,253, as per the last closing price. On 2018/09/12 Graves Gregory B, Director at PLUG, dumped 31,343 shares at an average price of $1.73 per share. The selling total is valued at $62,779.
Separately, it had been reported that some other PLUG insiders also took part of the insider trading activity. Director, Air Liquide Investissements D’ had divested 4,855 shares for $39,324 through a trade on 2017/09/22. Following this activity, the insider holds 11,652 shares worth $57,020 as of recent close. Wall Street’s most bullish Plug Power Inc. (NASDAQ:PLUG) analysts are predicting the share price to blow past $5 per share during the next 12 months. The current median share price forecast by them is $3, suggesting that the stock could increase 106.9% in that time frame. The average price target of $3.13 calls for a nearly 115.86% increase in the stock price.
Plug Power Inc. (PLUG) trading activity significantly weakened as the volume at ready counter decreased to 2,704,917 shares versus 4,817,585 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 5,478,986 shares. The share price dropped -3.97% in recent trade and currently has a stock-market value of $335.88M. The shares finished at $1.45, after trading as low as $1.42 earlier in the session. It hit an intraday high Thursday at $1.5. The stock is now 46.46% above against its bear-market low of $0.99 on December 24, 2018. It has retreated -66.9% since it’s 52-week high of $2.42 reached in January. Now the market price is down -37.5% on the year and up 16.94% YTD.
PLUG’s 50 day simple moving average (SMA 50) price is $1.59 and its 200-day simple moving average (SMA 200) price is $1.85. The company’s stock currently has a total float of 230.41M shares. Its weekly volatility is hovering around 10.55% and felt 10.04% volatility in price over a month. On the upside, the share price will test short term resistance at around $1.49. On a downside, the stock is likely to find some support, which begins at $1.41. The failure to get near-term support could push it to $1.38.
It had seen a new analyst call from Oppenheimer, which initiated the stock at Outperform on August 23. Analysts at FBR & Co., maintained the company shares at Outperform on July 25 but switched target price from $3 to $3.50. The stock lost favor of ROTH Capital analysts who expressed their lack of confidence in it using a downgrade from Neutral to Sell on May 17.
Also, it is trading at rather expensive levels at just over 20.71x price/book and 2.29x price/sales. Compared to others, Plug Power Inc. is in a different league with regards to profitability, having net margins of -55.3%. To put some perspective around this, the industry’s average net margin is -4.27%. PLUG’s ROE is -198.3%, which is also considerably worse than the industry’s ROE of 22.87%. It’s also very liquid in the near term, with a current ratio of 1.1. The stock has a debt/capital of 15.11.
Shares of Plug Power Inc. (PLUG) have dropped -21.8% since the company’s Mar-19 earnings report. Over the past 12 fiscal quarters, Plug Power Inc. (NASDAQ:PLUG) has topped consensus earnings estimates in 3 quarters (25%), missed earnings in 7 quarters (58%), whereas at 2 occasion EPS met analyst expectations. PLUG last reported earnings on November 08, 2018 when it released Sep-18 results that exceeded expectations. The company raked in -$0.07 per share, -99.57% change on the same period last year. That was better than consensus for -$0.08. Revenue for the recent quarter stood at $55.3 million, down -10% on last year and above the $50.46 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $37.9 million to $56.44 million, which should be compared with $57.98 million generated last year. EPS is seen in a range of -$0.08 to -$0.02, against the -$0.06 reported a year ago.