Plug Power CFO boosts stake with 650,000 shares purchase

LATHAM, N.Y. - Plug Power Inc. (NASDAQ: PLUG), a company engaged in hydrogen fuel cell production, reported that its Chief Financial Officer, Paul Middleton, has significantly increased his investment in the company. Middleton purchased an additional 650,000 shares of Plug Power’s common stock at an average price of $1.0339 per share on Monday. This acquisition follows a purchase earlier in June, signaling the CFO’s confidence in the company’s long-term strategy and financial prospects. According to InvestingPro data, the stock has shown strong momentum recently, with a 17.6% return over the past week, though it remains significantly below its 52-week high of $3.34.

The transaction was made public through a Form 4 filing with the U.S. Securities and Exchange Commission, also dated Monday. Middleton’s investment is seen as a vote of confidence in Plug Power’s operational advancements, including the scale-up of hydrogen production facilities, the commercialization of its GenEco electrolyzers, and the increasing demand for its GenDrive fuel cell solutions in various industrial markets. InvestingPro analysis indicates the company maintains a current ratio of 1.95, suggesting adequate liquidity to meet short-term obligations, though its overall financial health score is currently rated as weak.

Plug Power is known for its comprehensive hydrogen solutions and is actively working on creating a fully integrated hydrogen economy. The company’s ecosystem includes hydrogen production, storage, delivery, and power generation. It has positioned itself as a pioneer in the industry, offering products such as electrolyzers, liquid hydrogen, fuel cell systems, storage tanks, and fueling infrastructure. Their technology supports applications in material handling, industrial uses, and energy production, promoting energy independence and large-scale decarbonization. Financial metrics from InvestingPro show the company generated revenue of $642 million in the last twelve months, though with challenging gross profit margins of -77.5%. Subscribers can access 12 additional ProTips and detailed financial analysis in the comprehensive Pro Research Report.

The company boasts a global presence with electrolyzers deployed across five continents and over 72,000 fuel cell systems in operation. Plug Power has established 275 fueling stations and is recognized as the largest user of liquid hydrogen. It has also been expanding its hydrogen production network, with plants in Georgia, Tennessee, and Louisiana collectively producing 39 tons of hydrogen per day. Based on InvestingPro’s Fair Value analysis, the stock currently appears to be trading near its Fair Value, with analysts setting price targets ranging from $0.50 to $5.00 per share.

Plug Power caters to a range of prominent clients, including Walmart, Amazon, Home Depot, BMW, and BP. The company’s strategic moves and the recent investment by its CFO underscore its commitment to leading the transition to green energy solutions.

This news is based on a press release statement from Plug Power Inc. and reflects the company’s current operations and market activities. It is important to note that forward-looking statements involve risks and uncertainties, and actual results may differ from those projected.

In other recent news, Plug Power Inc. has announced several significant developments. The company reported a notable expansion of its partnership with Allied Green Ammonia, securing a new 2 gigawatt electrolyzer project in Uzbekistan. This $5.5 billion green chemical production facility, backed by the Uzbek government, aims to produce sustainable aviation fuel, green urea, and green diesel. Additionally, Plug Power achieved a production milestone at its Woodbine, Georgia plant, producing 300 metric tons of liquid hydrogen in April, marking the highest monthly output in the United States.

Analysts at Jefferies have recently adjusted their outlook on Plug Power, lowering the stock price target to $0.90 while maintaining a Hold rating. The firm estimates second-quarter revenue at $151 million, slightly below the consensus, and notes challenges under the current US Inflation Reduction Act environment. In financial moves, Plug Power’s CFO, Paul Middleton, purchased 350,000 shares of the company’s stock, reflecting confidence in its future. The company reported Q1 2025 revenue of $133.7 million and a reduction in net cash used for operations and investments.

Plug Power continues to expand its hydrogen production capacity to 40 tons per day, reinforcing its position in the hydrogen economy. The company’s global operations include over 72,000 fuel cell systems and 275 fueling stations. These developments underscore Plug Power’s ongoing commitment to advancing its role in the global energy transition.

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