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

Plug Power Inc. (NASDAQ:PLUG) saw some unusual options trading on Monday. Investors acquired 59,489 call options on the stock. This represents an increase of 95% compared to the typical volume of 30,492 call options.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PLUG. Truist Financial reduced their price target on Plug Power from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Canaccord Genuity Group cut their price objective on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a research report on Wednesday, November 13th. BTIG Research cut Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Finally, Jefferies Financial Group cut their price objective on Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Plug Power presently has a consensus rating of “Hold” and a consensus target price of $4.52.

Plug Power Trading Up 15.9 %

Shares of PLUG stock traded up $0.31 on Monday, hitting $2.23. The stock had a trading volume of 77,216,586 shares, compared to its average volume of 41,645,137. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The firm has a market capitalization of $2.03 billion, a P/E ratio of -0.98 and a beta of 1.81. Plug Power has a 1 year low of $1.60 and a 1 year high of $5.14. The company’s 50 day moving average price is $2.08 and its 200-day moving average price is $2.38.

Plug Power (NASDAQ:PLUG) last issued its quarterly 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). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The company had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. During the same quarter last year, the company earned ($0.47) EPS. Plug Power’s revenue for the quarter was down 12.6% compared to the same quarter last year. Analysts anticipate that Plug Power will post -1.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Plug Power by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 54,986,479 shares of the electronics maker’s stock valued at $189,153,000 after purchasing an additional 999,194 shares during the period. Advisors Asset Management Inc. lifted its position in Plug Power by 11.0% during the 1st quarter. Advisors Asset Management Inc. now owns 70,442 shares of the electronics maker’s stock worth $242,000 after acquiring an additional 7,006 shares during the period. Gabelli Funds LLC lifted its position in Plug Power by 42.9% during the 1st quarter. Gabelli Funds LLC now owns 250,000 shares of the electronics maker’s stock worth $860,000 after acquiring an additional 75,000 shares during the period. 1832 Asset Management L.P. lifted its position in Plug Power by 29.4% during the 1st quarter. 1832 Asset Management L.P. now owns 44,000 shares of the electronics maker’s stock worth $151,000 after acquiring an additional 10,000 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Plug Power by 4.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 511,548 shares of the electronics maker’s stock worth $1,760,000 after acquiring an additional 20,199 shares during the period. 43.48% of the stock is owned by institutional investors and hedge funds.

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.