Plug Power Target of Unusually Large Options Trading (NASDAQ:PLUG)

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) was the recipient of unusually large options trading on Monday. Stock investors acquired 37,754 call options on the company. This represents an increase of 38% compared to the typical volume of 27,322 call options.

Institutional Trading of Plug Power

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Plug Power by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 53,987,285 shares of the electronics maker's stock worth $242,943,000 after purchasing an additional 283,376 shares during the period. HighPoint Advisor Group LLC purchased a new position in shares of Plug Power during the 4th quarter valued at $48,000. Banque Cantonale Vaudoise grew its stake in shares of Plug Power by 25.7% during the 1st quarter. Banque Cantonale Vaudoise now owns 152,779 shares of the electronics maker's stock worth $526,000 after acquiring an additional 31,276 shares during the period. Ballentine Partners LLC purchased a new stake in Plug Power in the 1st quarter worth about $79,000. Finally, Mosley Wealth Management bought a new stake in Plug Power in the 1st quarter valued at about $35,000. Institutional investors own 43.48% of the company's stock.

Analyst Upgrades and Downgrades

PLUG has been the topic of a number of recent analyst reports. Piper Sandler dropped their price objective on Plug Power from $2.50 to $2.40 and set an "underweight" rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada cut their price target on Plug Power from $3.50 to $2.50 and set a "sector perform" rating on the stock in a report on Monday, August 12th. Jefferies Financial Group reduced their price objective on shares of Plug Power from $2.20 to $2.00 and set a "hold" rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company dropped their target price on shares of Plug Power from $4.00 to $3.00 and set an "equal weight" rating on the stock in a research report on Friday, August 9th. Finally, Craig Hallum decreased their price target on shares of Plug Power from $5.00 to $4.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Plug Power currently has an average rating of "Hold" and an average target price of $5.01.

Plug Power Stock Performance

Shares of NASDAQ PLUG traded up $0.13 during midday trading on Monday, reaching $2.37. The company's stock had a trading volume of 52,556,921 shares, compared to its average volume of 39,276,875. The stock has a market capitalization of $1.76 billion, a P/E ratio of -0.99 and a beta of 1.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.07 and a quick ratio of 0.91. The firm has a 50 day moving average price of $2.03 and a 200-day moving average price of $2.49. Plug Power has a 12-month low of $1.60 and a 12-month high of $6.95.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.06). Plug Power had a negative return on equity of 47.51% and a negative net margin of 216.80%. The business had revenue of $143.40 million during the quarter, compared to analysts' expectations of $184.54 million. During the same period in the prior year, the firm posted ($0.35) EPS. The firm's revenue for the quarter was down 44.9% on a year-over-year basis. As a group, equities analysts predict that Plug Power will post -1.15 earnings per share 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.