Plug Power Inc (NASDAQ:PLUG) Being Driven By Insider Buying

Today, we need to talk again about the hydrogen fuel-cell company Plug Power Inc. (NASDAQ:PLUG). Market expectations have increased after Chairman George McNamee acquired a large amount of common stock. The share price reacted to the news by jumping more than 10% in only one session.We repeated several times that PLUG is company that our readers need to follow, not only because of its innovating technology, but also after it announced relationships with Amazon and Wal-Mart. We published a piece called "Plug Power Inc. (NASDAQ:PLUG) Joins Forces With Amazon.com Inc. (NASDAQ:AMZN)" on April 6, 2017 when the share price was close to $2.0 and as of today shareholders call sell the stock for $2.74. For those who need a calculator, it is 37% stock return in less than six months, which is not at all bad.Have a look at the recent share price action before we provide more details: 1 month chart for PLUGFor those who don't know the company, let us describe its business a bit. Plug Power Inc. provides environmentally friendly transportation solutions with the help of fuel cell power solutions based on hydrogen. The technology seems promising and is already being used for the food and beverage industry.The most significant development in 2017 was that Amazon.com Inc. (NASDAQ:AMZN) had acquired the right to purchase 23% of Plug. It was disclosed in April, which made automatically increase the share price from approximately $1.25 to $2.0.On the top of it, Wal-mart also signed a collaboration agreement in July 2017, under which Plug Power obtained access to project financing at a lower cost of capital and no restricted cash. The press release reads that Plug can obtain up to $80 million from the big retailer. The companies had been collaborating together; Plug had already deployed a fleet of 5500 Plug Power fuel cells at 22 of Walmart’s U.S. distribution centers in July. As it did with Amazon, Plug Power has given Wal-mart warrants to acquire up to 55,286,696 of Plug Power's common shares.We know all that, what's new?What's driving the new share price increase right now is that the CEO acquired large amount of common stock recently at approximately $2.12 to $2.33 per share between September 7 and September 15, 2017. Have a look:1. Title of Security (Instr. 3)2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8)4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)7. Nature of Indirect Beneficial Ownership (Instr. 4)CodeVAmount(A) or (D)PricePLUG09/07/2017P25,000A$2.1298486,131DPLUG09/07/2017P600A$2.13486,731DPLUG09/08/2017P24,400A$2.16511,131DPLUG09/08/2017P25,000A$2.14536,131DPLUG09/11/2017P25,000A$2.13561,131DPLUG09/12/2017P25,000A$2.17586,131DPLUG09/13/2017P25,000A$2.34611,131DPLUG09/14/2017P25,000A$2.3386636,131DPLUG09/15/2017P25,000A$2.21661,131DSourceThe interesting thing, which was actually not noted on other websites, such fool.com, or Seeking Alpha, is that the company will hold a special meeting on October 23, 2017 to accept several proposals including the increase in the amount of authorized shares. We believe that the company is looking for more equity financing and increasing the amount of authorized shares would open the door to more share capital increase. In our opinion, more financing will be good for this early stage company, as more projects will be financed.A new 10-Q hit the market on August 8, 2017. The EPS number did not meet the expectations, as the operating expenses increased. While the market expected -$0.06 earnings per share, the company released -$0.18. That made the share price decrease a bit from $2.25 to approximately $2.00 in a few days. Honestly, we believe that a bad quarter changes nothing and Amazon,Wal-Mart and the entire market are more focused on the innovative technology. $21 million was invested in Research and Development in this quarter alone. Additionally, the company continued to show a solid balance sheet as net assets went from $48 million to $85 million in only a quarter.Conclusion Currently trading with a market cap of $621 million, PLUG is an exciting story among mid caps. We appreciated, like the market did, that the CEO is buying even more shares at these prices. He seems to be very confident in Plug Power's future. As savvy investors know, when there's a great deal of insider buying, that could mean that big things are about to happen. As always, follow the smart money.For the full story, check out our complete coverage.We will be updating our subscribers as soon as we know more. For the latest updates on PLUG, sign up below!Image courtesy of Damian Kettlewell via FlickrDisclosure: We have no position in PLUG and have not been compensated for this article.