Plug Power Target of Unusually Large Options Trading (NASDAQ:PLUG)

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) was the recipient of some unusual options trading on Monday. Stock traders acquired 68,824 call options on the stock. This is an increase of approximately 68% compared to the typical daily volume of 40,877 call options.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PLUG shares. Canaccord Genuity Group cut their price target on shares of Plug Power from $1.25 to $1.00 and set a "hold" rating for the company in a research note on Tuesday, May 13th. Wall Street Zen upgraded shares of Plug Power to a "sell" rating in a research report on Tuesday, May 13th. Jefferies Financial Group lowered their price target on Plug Power from $1.70 to $0.90 and set a "hold" rating on the stock in a research report on Tuesday, May 20th. Truist Financial dropped their price target on Plug Power from $2.00 to $1.50 and set a "hold" rating for the company in a research note on Wednesday, March 5th. Finally, Morgan Stanley reduced their price objective on Plug Power from $1.25 to $0.50 and set an "underweight" rating on the stock in a research report on Monday, May 19th. Five 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. According to MarketBeat.com, Plug Power has an average rating of "Hold" and an average target price of $1.83.

Plug Power Trading Up 3.9%

Shares of Plug Power stock traded up $0.06 on Thursday, hitting $1.46. The stock had a trading volume of 81,632,524 shares, compared to its average volume of 70,030,880. The company has a quick ratio of 1.07, a current ratio of 1.95 and a debt-to-equity ratio of 0.27. Plug Power has a one year low of $0.69 and a one year high of $3.34. The stock's 50-day simple moving average is $1.00 and its two-hundred day simple moving average is $1.52. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -0.59 and a beta of 2.29.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). The firm had revenue of $133.67 million during the quarter, compared to the consensus estimate of $130.92 million. Plug Power had a negative return on equity of 82.21% and a negative net margin of 312.29%. As a group, sell-side analysts predict that Plug Power will post -1.21 EPS for the current year.

Insider Buying and Selling at Plug Power

In other Plug Power news, insider Paul B. Middleton acquired 650,000 shares of the business's stock in a transaction dated Monday, June 9th. The stock was bought at an average price of $1.03 per share, with a total value of $669,500.00. Following the completion of the acquisition, the insider owned 2,558,064 shares of the company's stock, valued at $2,634,805.92. This trade represents a 34.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PLUG. New York State Common Retirement Fund increased its stake in shares of Plug Power by 13.9% during the fourth quarter. New York State Common Retirement Fund now owns 219,473 shares of the electronics maker's stock valued at $467,000 after buying an additional 26,700 shares during the period. Bank of New York Mellon Corp boosted its holdings in Plug Power by 8.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,452,369 shares of the electronics maker's stock valued at $5,224,000 after acquiring an additional 183,438 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Plug Power during the 4th quarter valued at $25,000. QRG Capital Management Inc. raised its holdings in Plug Power by 11.0% in the 4th quarter. QRG Capital Management Inc. now owns 100,369 shares of the electronics maker's stock worth $214,000 after purchasing an additional 9,977 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Plug Power by 107.4% in the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock worth $25,000 after purchasing an additional 6,074 shares in the last quarter. Institutional investors own 43.48% of the company's stock.

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.