Stock Traders Purchase Large Volume of Call Options on Plug Power (NASDAQ:PLUG)

Plug Power Inc. (NASDAQ:PLUG) saw some unusual options trading activity on Friday. Stock traders purchased 81,042 call options on the company. This represents an increase of 125% compared to the typical daily volume of 36,022 call options.

Analysts Set New Price Targets

Several research firms have recently commented on PLUG. Evercore ISI cut their price objective on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Piper Sandler decreased their target price on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research report on Thursday, November 14th. Craig Hallum dropped their price target on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Jefferies Financial Group reduced their price objective on Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Finally, BTIG Research cut Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.52.

Plug Power Trading Up 12.9 %

Shares of PLUG traded up $0.30 on Friday, hitting $2.63. 85,917,116 shares of the stock traded hands, compared to its average volume of 76,445,789. Plug Power has a 1 year low of $1.60 and a 1 year high of $5.14. The stock’s 50 day moving average is $2.21 and its two-hundred day moving average is $2.23. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.40 billion, a P/E ratio of -1.23 and a beta of 1.76.

Plug Power (NASDAQ:PLUG) last posted its 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 business had revenue of $173.70 million for the quarter, compared to analyst estimates 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 revenue was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.47) EPS. As a group, sell-side analysts predict that Plug Power will post -1.2 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Profund Advisors LLC acquired a new stake in Plug Power in the 2nd quarter valued at about $29,000. Prio Wealth Limited Partnership acquired a new position in Plug Power during the third quarter valued at approximately $29,000. Catalyst Capital Advisors LLC boosted its stake in Plug Power by 79.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares during the period. First Commonwealth Financial Corp PA acquired a new stake in Plug Power during the third quarter worth about $29,000. Finally, Millburn Ridgefield Corp boosted its position in shares of Plug Power by 79.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 5,631 shares in the last quarter. Institutional investors own 43.48% of the company’s stock.

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.