Traders Purchase High Volume of Plug Power Call Options (NASDAQ:PLUG)

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

Institutional Investors Weigh In On Plug Power

Several institutional investors and hedge funds have recently modified their holdings of the stock. SteelPeak Wealth LLC purchased a new position in Plug Power during the 2nd quarter valued at about $26,000. Nations Financial Group Inc. IA ADV purchased a new position in shares of Plug Power during the second quarter valued at approximately $26,000. Aire Advisors LLC bought a new stake in shares of Plug Power in the 2nd quarter worth approximately $28,000. Madison Park Capital Advisors LLC bought a new stake in shares of Plug Power in the 2nd quarter worth approximately $29,000. Finally, Profund Advisors LLC purchased a new stake in shares of Plug Power in the 2nd quarter worth approximately $29,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLUG has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 14th. Evercore ISI decreased their price target on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. BTIG Research downgraded Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Craig Hallum reduced their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Finally, Royal Bank of Canada lowered their target price on Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a research note on Monday, August 12th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Plug Power has an average rating of “Hold” and a consensus target price of $4.52.

Plug Power Stock Performance

Plug Power stock opened at $2.20 on Tuesday. The firm has a fifty day simple moving average of $2.08 and a two-hundred day simple moving average of $2.38. Plug Power has a twelve month low of $1.60 and a twelve month high of $5.14. The company has a market capitalization of $2.00 billion, a PE ratio of -1.03 and a beta of 1.81. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) 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 the consensus estimate of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.47) EPS. Research analysts expect that Plug Power will post -1.2 EPS for the current year.

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.