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

Plug Power, Inc. (NASDAQ:PLUG) was the recipient of some unusual options trading on Tuesday. Investors purchased 103,595 call options on the stock. This represents an increase of approximately 57% compared to the typical daily volume of 65,812 call options.

Analyst Ratings Changes

PLUG has been the subject of a number of recent research reports. TD Cowen increased their price objective on Plug Power from $2.00 to $3.00 and gave the company a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Plug Power in a research report on Tuesday, April 21st. Canaccord Genuity Group raised their price target on shares of Plug Power from $2.50 to $4.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. B. Riley Financial upped their target price on shares of Plug Power from $3.00 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, BTIG Research reissued a “neutral” rating on shares of Plug Power in a report on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.42.

Institutional Trading of Plug Power

Several institutional investors and hedge funds have recently made changes to their positions in PLUG. Kovack Advisors Inc. purchased a new stake in Plug Power in the third quarter worth approximately $26,000. Prakash Investment Advisors LLC purchased a new position in Plug Power during the 3rd quarter valued at $27,000. Prime Capital Investment Advisors LLC bought a new stake in shares of Plug Power during the 3rd quarter valued at $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in shares of Plug Power by 116.7% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 13,000 shares of the electronics maker’s stock valued at $26,000 after buying an additional 7,000 shares in the last quarter. Finally, Simplicity Wealth LLC bought a new stake in shares of Plug Power during the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Price Performance

Shares of NASDAQ PLUG traded up $0.06 during midday trading on Tuesday, reaching $3.84. 111,478,619 shares of the company were exchanged, compared to its average volume of 89,274,180. The company has a quick ratio of 1.40, a current ratio of 2.36 and a debt-to-equity ratio of 0.89. Plug Power has a one year low of $0.77 and a one year high of $4.58. The stock has a market cap of $5.36 billion, a P/E ratio of -2.91 and a beta of 2.06. The stock’s 50-day moving average price is $2.91 and its 200-day moving average price is $2.42.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Monday, May 11th. The electronics maker reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $163.51 million for the quarter, compared to analysts’ expectations of $139.87 million. Plug Power had a negative net margin of 227.13% and a negative return on equity of 49.30%. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. On average, sell-side analysts anticipate that Plug Power will post -0.26 earnings per share for the current fiscal year.

Plug Power Company Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.