Plug Power Sees Unusually Large Options Volume (NASDAQ:PLUG)

Plug Power Inc. (NASDAQ:PLUG) saw some unusual options trading activity on Monday. Traders bought 59,489 call options on the stock. This is an increase of 95% compared to the typical daily volume of 30,492 call options.

Institutional Investors Weigh In On Plug Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SteelPeak Wealth LLC purchased a new position in shares of Plug Power during the 2nd quarter worth $26,000. Nations Financial Group Inc. IA ADV purchased a new position in Plug Power during the second quarter worth about $26,000. Aire Advisors LLC acquired a new stake in shares of Plug Power during the second quarter valued at about $28,000. Madison Park Capital Advisors LLC purchased a new stake in shares of Plug Power in the 2nd quarter valued at approximately $29,000. Finally, Profund Advisors LLC acquired a new stake in Plug Power in the 2nd quarter valued at approximately $29,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Trading Down 5.9 %

Shares of PLUG opened at $2.07 on Wednesday. Plug Power has a 12-month low of $1.60 and a 12-month high of $5.14. The firm has a market capitalization of $1.89 billion, a P/E ratio of -0.97 and a beta of 1.81. The firm has a 50-day moving average price of $2.08 and a 200 day moving average price of $2.38. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The firm had revenue of $173.70 million during the quarter, compared to analysts’ expectations of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business’s quarterly revenue was down 12.6% on a year-over-year basis. During the same period last year, the company earned ($0.47) EPS. Sell-side analysts forecast that Plug Power will post -1.2 EPS for the current year.

Analysts Set New Price Targets

PLUG has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Plug Power in a research note on Wednesday, November 13th. Royal Bank of Canada lowered their price objective on Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a research report on Monday, August 12th. Truist Financial dropped their price objective on shares of Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. BTIG Research downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Finally, Piper Sandler cut their price objective on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a report on Thursday, November 14th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $4.52.

Plug Power Company Profile

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.