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

Plug Power Inc. (NASDAQ:PLUG) was the target of unusually large options trading activity on Monday. Stock traders bought 59,489 call options on the stock. This represents an increase of 95% compared to the typical daily volume of 30,492 call options.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PLUG. Royal Bank of Canada decreased their target price on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a research report on Monday, August 12th. Wells Fargo & Company lowered their target price on Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Thursday, November 14th. Piper Sandler dropped their price target on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. Craig Hallum cut their target price on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Finally, BTIG Research cut shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $4.52.

Plug Power Trading Up 14.6 %

Shares of NASDAQ:PLUG opened at $2.20 on Tuesday. The stock has a market capitalization of $2.00 billion, a PE ratio of -1.03 and a beta of 1.81. The company’s 50-day moving average price is $2.08 and its two-hundred day moving average price is $2.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. Plug Power has a one year low of $1.60 and a one year high of $5.14.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The firm had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. Plug Power’s quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.47) earnings per share. On average, equities 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.