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Plug Power Inc. (NASDAQ:PLUG) recently saw a significant transaction from its Chief Financial Officer and Executive Vice President, Paul Middleton. According to a recent SEC filing, Middleton purchased 350,000 shares of Plug Power’s common stock on May 16, 2025. The shares were acquired at a price of $0.7154 each, amounting to a total transaction value of approximately $250,390. This purchase comes as the stock trades near its 52-week low of $0.69, having declined over 76% in the past year. According to InvestingPro analysis, the stock is currently trading below its Fair Value.
Following this purchase, Middleton’s direct ownership in Plug Power now stands at 1,908,064 shares. Additionally, he holds 56,047 shares indirectly through the company’s 401(k) plan, as of a plan statement dated May 6, 2025.
This activity is part of Middleton’s ongoing involvement with the hydrogen and fuel cell solutions provider, as Plug Power continues to navigate the evolving clean energy landscape.
In other recent news, Plug Power reported first-quarter 2025 results that did not meet analyst expectations, with revenue coming in at $133.7 million, below the anticipated $138.41 million. The company’s adjusted earnings per share were -$0.21, missing estimates by $0.02. Despite these misses, Plug Power highlighted improvements in cash flow and gross margins, with the latter improving to -55% from -132% year-over-year. Citi maintained a Sell rating on Plug Power, citing challenges such as missed gross margin targets and potential future hurdles with the end of incentives in December 2025. However, the company noted a significant reduction in cash burn, decreasing by approximately 47% year-over-year. Additionally, Plug Power commissioned a new hydrogen liquefaction plant in Louisiana, boosting its U.S. production capacity. The company also saw a 575% year-over-year revenue growth in its electrolyzer business. Plug Power ended the quarter with $295.8 million in unrestricted cash and secured a $525 million credit facility to support liquidity.
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