Plug Power CSO Benjamin Haycraft sells $428,300 in shares

Plug Power's Chief Strategy Officer and General Manager for EMEA, Benjamin Haycraft, sold 200,000 shares of the company's stock on September 18, 2026. The shares were sold at an average price of $2.1415 per share, with individual transactions ranging from $2.135 to $2.148. The entire sale totaled $428,300. Currently trading at $1.98, the stock price is lower than Haycraft's selling price, indicating a potential overvaluation according to an InvestingPro analysis.

The stock has experienced a 16% decline over the past year. The sales were executed under a Rule 10b5-1 trading plan that Haycraft established on June 11, 2026. Post these transactions, Haycraft directly owns 101,249 shares of Plug Power common stock. Meanwhile, Plug Power delivered strong second-quarter 2026 results, beating analyst expectations with an adjusted loss per share of $0.07, compared to the expected loss of $0.08.

Revenue reached $178.3 million, surpassing the forecasted $168.76 million. The company has also raised its full-year sales outlook and anticipates further margin improvements in the latter half of the year. Analysts have reacted positively to these results, with Craig-Hallum maintaining a Buy rating and a $5.00 price target, and Oppenheimer keeping a Perform rating.

Canaccord Genuity, however, has retained a Hold rating with a $4.00 price target, citing progress in cost reduction and new pricing strategies.