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

Plug Power Inc. (NASDAQ:PLUG) was the target of some unusual options trading activity on Tuesday. Stock traders acquired 77,985 call options on the company. This represents an increase of approximately 195% compared to the average volume of 26,426 call options.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PLUG. Jefferies Financial Group decreased their price objective on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Susquehanna lowered their price objective on Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Royal Bank of Canada cut their price objective on Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a research note on Monday, August 12th. Canaccord Genuity Group decreased their target price on Plug Power from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Monday, August 12th. Finally, Craig Hallum dropped their price target on shares of Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.01.

Plug Power Stock Performance

Shares of NASDAQ PLUG opened at $2.52 on Wednesday. Plug Power has a one year low of $1.60 and a one year high of $6.74. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of -1.07 and a beta of 1.81. The company has a current ratio of 2.07, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $2.04 and a 200 day simple moving average of $2.43.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.06). The company had revenue of $143.40 million during the quarter, compared to the consensus estimate of $184.54 million. Plug Power had a negative net margin of 216.80% and a negative return on equity of 47.51%. The business’s revenue was down 44.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.35) earnings per share. Sell-side analysts expect that Plug Power will post -1.16 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PLUG. SteelPeak Wealth LLC bought a new position in shares of Plug Power in the second quarter worth about $26,000. Nations Financial Group Inc. IA ADV acquired a new position in shares of Plug Power in the 2nd quarter valued at $26,000. Aire Advisors LLC bought a new position in Plug Power during the second quarter worth about $28,000. Madison Park Capital Advisors LLC bought a new position in Plug Power during the 2nd quarter worth approximately $29,000. Finally, Profund Advisors LLC acquired a new position in shares of Plug Power in the 2nd quarter valued at $29,000. Institutional investors own 43.48% of the company’s stock.

About Plug Power

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.