Investors Purchase Large Volume of Plug Power Call Options (NASDAQ:PLUG)

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) was the recipient of unusually large options trading activity on Monday. Traders bought 65,817 call options on the company. This is an increase of approximately 55% compared to the typical volume of 42,423 call options.

Plug Power Stock Up 1.9%

PLUG stock traded up $0.01 during trading hours on Monday, reaching $0.79. 189,203,290 shares of the stock were exchanged, compared to its average volume of 59,130,526. The firm's 50-day moving average is $1.13 and its 200-day moving average is $1.77. The company has a market cap of $848.33 million, a price-to-earnings ratio of -0.37 and a beta of 2.19. 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 12 month low of $0.69 and a 12 month high of $3.55.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $133.67 million for the quarter, compared to analysts' expectations of $130.92 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. On average, equities research analysts expect that Plug Power will post -1.21 earnings per share for the current year.

Analyst Ratings Changes

PLUG has been the subject of a number of research analyst reports. Morgan Stanley lowered their price target on Plug Power from $1.25 to $0.50 and set an "underweight" rating for the company in a report on Monday. StockNews.com raised Plug Power to a "sell" rating in a report on Tuesday, May 13th. Roth Capital reaffirmed a "buy" rating on shares of Plug Power in a research report on Tuesday, May 13th. Truist Financial decreased their price objective on Plug Power from $2.00 to $1.50 and set a "hold" rating on the stock in a report on Wednesday, March 5th. Finally, Canaccord Genuity Group dropped their price objective on Plug Power from $1.25 to $1.00 and set a "hold" rating on the stock in a research note on Tuesday, May 13th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Plug Power has a consensus rating of "Hold" and a consensus price target of $1.91.

Insider Transactions at Plug Power

In other news, CFO Paul B. Middleton acquired 350,000 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were bought at an average cost of $0.72 per share, with a total value of $252,000.00. Following the transaction, the chief financial officer now owns 1,908,064 shares of the company's stock, valued at $1,373,806.08. This trade represents a 22.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Plug Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Plug Power by 4.5% in the first quarter. Vanguard Group Inc. now owns 91,368,845 shares of the electronics maker's stock valued at $123,348,000 after buying an additional 3,930,342 shares in the last quarter. Norges Bank bought a new position in shares of Plug Power during the fourth quarter worth $146,465,000. Heights Capital Management Inc. bought a new stake in Plug Power in the 1st quarter valued at $31,174,000. Geode Capital Management LLC lifted its position in Plug Power by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker's stock valued at $42,434,000 after acquiring an additional 722,639 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Plug Power by 8.5% in the 4th quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker's stock valued at $21,602,000 after buying an additional 796,774 shares during the last quarter. Institutional investors and hedge funds 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.

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