Plug Power Sees Unusually Large Options Volume (NASDAQ:PLUG)

Plug Power Inc. (NASDAQ:PLUG) saw unusually large options trading activity on Friday. Stock investors acquired 81,042 call options on the company. This is an increase of 125% compared to the average volume of 36,022 call options.

Plug Power Stock Up 12.9 %

PLUG stock opened at $2.63 on Friday. The company’s 50 day moving average is $2.22 and its 200 day moving average is $2.23. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -1.23 and a beta of 1.79. 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 1-year low of $1.60 and a 1-year high of $5.14.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) 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 company had revenue of $173.70 million during the quarter, compared to analysts’ expectations of $207.25 million. During the same period in the prior year, the firm earned ($0.47) EPS. Plug Power’s quarterly revenue was down 12.6% on a year-over-year basis. Sell-side analysts predict that Plug Power will post -1.2 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company dropped their target price 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 reduced their price objective on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Piper Sandler lowered their target price on Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a report on Wednesday, November 13th. Finally, Craig Hallum dropped their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Four research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.52.

Hedge Funds Weigh In On Plug Power

A number of large investors have recently modified their holdings of the company. Profund Advisors LLC bought a new position in Plug Power during the second quarter valued at approximately $29,000. Prio Wealth Limited Partnership bought a new position in shares of Plug Power during the 3rd quarter valued at $29,000. Catalyst Capital Advisors LLC raised its position in Plug Power by 79.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 5,631 shares during the period. Millburn Ridgefield Corp lifted its stake in Plug Power by 79.9% in the third 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 last quarter. Finally, First Commonwealth Financial Corp PA bought a new stake in Plug Power in the third quarter worth $29,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

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.