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

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) saw some unusual options trading on Friday. Stock traders bought 81,042 call options on the company. This is an increase of approximately 125% compared to the typical volume of 36,022 call options.

Hedge Funds Weigh In On Plug Power

Several institutional investors and hedge funds have recently bought and sold shares of PLUG. Nations Financial Group Inc. IA ADV grew its stake in shares of Plug Power by 42.3% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker's stock valued at $36,000 after buying an additional 4,700 shares during the period. Arkadios Wealth Advisors boosted its holdings in Plug Power by 18.2% in the third quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker's stock valued at $75,000 after acquiring an additional 5,075 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Plug Power by 0.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker's stock valued at $1,817,000 after acquiring an additional 5,485 shares during the last quarter. Catalyst Capital Advisors LLC grew its position in Plug Power by 79.9% during the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker's stock valued at $29,000 after acquiring an additional 5,631 shares during the period. Finally, Millburn Ridgefield Corp raised its holdings in shares of Plug Power by 79.9% in the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker's stock worth $29,000 after purchasing an additional 5,631 shares during the period. Institutional investors and hedge funds own 43.48% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. BTIG Research cut shares of Plug Power from a "buy" rating to a "neutral" rating in a research note on Thursday, November 14th. Craig Hallum reduced their price target on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Thursday, November 14th. HC Wainwright restated a "buy" rating and issued a $18.00 price target on shares of Plug Power in a report on Wednesday, November 13th. Wells Fargo & Company reduced their price objective on Plug Power from $3.00 to $2.00 and set an "equal weight" rating for the company in a report on Thursday, November 14th. Finally, Jefferies Financial Group lowered their target price on Plug Power from $2.20 to $2.00 and set a "hold" rating on the stock in a report on Thursday, October 3rd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $4.52.

Plug Power Trading Up 12.9 %

Shares of Plug Power stock traded up $0.30 during trading hours on Friday, reaching $2.63. 96,102,531 shares of the company's stock were exchanged, compared to its average volume of 83,724,516. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -1.23 and a beta of 1.76. 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 has a 52-week low of $1.60 and a 52-week high of $5.14. The company has a fifty day moving average of $2.21 and a 200-day moving average of $2.23.

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