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In a recent SEC filing, Plug Power Inc. (NASDAQ:PLUG) disclosed that Paul Middleton, the company’s Chief Financial Officer, Chief Accounting Officer, and Executive Vice President, acquired 650,000 shares of common stock on June 9, 2025. The insider purchase comes as the stock has shown strong momentum, posting a 17.6% gain over the past week, according to InvestingPro data. The shares were purchased at an average price of $1.0339 per share, totaling approximately $672,035. This purchase price sits below InvestingPro’s Fair Value estimate, suggesting potential upside. Following this transaction, Middleton holds a total of 2,558,064 shares directly. Additionally, he holds 56,047 shares indirectly through Plug Power Inc.’s 401(k) plan, based on a plan statement as of May 6, 2025. The company, currently valued at $1.16 billion by market capitalization, has experienced significant price volatility over the past year, with the stock trading between $0.69 and $3.34.Gain deeper insights into insider trading patterns and 14 additional ProTips with an InvestingPro subscription, which includes comprehensive analysis of 1,400+ US stocks.
In other recent news, Plug Power Inc. has announced a major expansion of its partnership with Allied Green Ammonia, securing a 2-gigawatt electrolyzer project in Uzbekistan. This $5.5 billion initiative, supported by the Uzbek government, aims to produce sustainable aviation fuel, green urea, and green diesel. Additionally, Plug Power has achieved a significant production milestone at its Georgia plant, producing 300 metric tons of liquid hydrogen in April, marking the highest monthly output in the United States. The Georgia facility, which began operations in January 2024, is the largest electrolytic liquid hydrogen production site in the country.
Jefferies analysts have revised Plug Power’s stock price target from $1.70 to $0.90, maintaining a Hold rating due to challenges posed by the US Inflation Reduction Act. The firm estimates Plug Power’s second-quarter revenue at $151 million, slightly below the consensus estimate. Meanwhile, Plug Power’s CFO, Paul Middleton, has demonstrated confidence in the company’s future by purchasing 350,000 shares of common stock, valued at approximately $250,000. This move aligns with the company’s recent financial updates, including a Q1 2025 revenue of $133.7 million and a reduction in net cash used in operating activities.
Plug Power continues to expand its hydrogen production capacity, now at 40 tons per day, and remains a key player in the decarbonization market with projects across five continents. The company’s strategic initiatives, including an executive compensation program tied to shareholder interests, reflect its commitment to long-term growth. These developments underscore Plug Power’s role in advancing the global hydrogen economy.
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