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

Key Points

• Traders bought an unusually large number of call options — 68,127 call options, about 31% above the stock's average call volume — signaling increased bullish speculative interest in PLUG.
• Analyst sentiment is mixed: MarketBeat shows an average rating of "Hold" with a consensus target price of $3.00, while individual ratings range from Strong Buy to Sell (2 Strong Buy, 2 Buy, 7 Hold, 5 Sell).
• Plug Power’s latest quarter beat expectations (EPS ($0.06) vs. ($0.10) est.; revenue $225.2M vs. $217.4M est.) but the company remains unprofitable with a negative ROE and net margin, and insider Benjamin Haycraft sold 40,000 shares (insiders own 0.56%, institutions 43.48%).

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) was the recipient of unusually large options trading activity on Monday. Traders bought 68,127 call options on the stock. This is an increase of approximately 31% compared to the average volume of 52,172 call options.

Analyst Ratings Changes

Several equities analysts recently commented on the company. HC Wainwright reiterated a "buy" rating and issued a $7.00 price objective on shares of Plug Power in a research note on Tuesday, March 3rd. Jefferies Financial Group dropped their price target on Plug Power from $2.00 to $1.80 and set a "hold" rating on the stock in a research report on Monday, March 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Plug Power in a research note on Thursday, January 22nd. Clear Str upgraded shares of Plug Power from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 31st. Finally, Oppenheimer restated a "market perform" rating on shares of Plug Power in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $3.00.

Insider Buying and Selling at Plug Power

In related news, insider Benjamin Haycraft sold 40,000 shares of the firm's stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $2.17, for a total transaction of $86,800.00. Following the completion of the sale, the insider owned 333,809 shares in the company, valued at approximately $724,365.53. This trade represents a 10.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.56% of the stock is owned by insiders.

Institutional Investors Weigh In On Plug Power

A number of institutional investors and hedge funds have recently made changes to their positions in PLUG. Kovack Advisors Inc. bought a new position in Plug Power in the 3rd quarter worth about $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in shares of Plug Power by 116.7% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 13,000 shares of the electronics maker's stock worth $26,000 after purchasing an additional 7,000 shares in the last quarter. Sender Co & Partners Inc. bought a new position in shares of Plug Power in the second quarter worth approximately $26,000. Yousif Capital Management LLC bought a new position in shares of Plug Power in the third quarter worth approximately $27,000. Finally, Prakash Investment Advisors LLC purchased a new stake in Plug Power in the third quarter valued at approximately $27,000. Hedge funds and other institutional investors own 43.48% of the company's stock.

Plug Power Price Performance

NASDAQ PLUG traded up $0.24 during trading hours on Monday, hitting $2.65. The company had a trading volume of 61,491,025 shares, compared to its average volume of 91,839,203. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.46 and a current ratio of 2.31. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of -1.96 and a beta of 1.79. Plug Power has a 52 week low of $0.69 and a 52 week high of $4.58. The firm has a 50 day simple moving average of $2.13 and a 200 day simple moving average of $2.38.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings results on Monday, March 2nd. The electronics maker reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. The firm had revenue of $225.22 million for the quarter, compared to analysts' expectations of $217.38 million. Plug Power had a negative return on equity of 45.97% and a negative net margin of 229.83%.During the same period in the prior year, the business posted ($1.48) earnings per share. Equities research analysts expect that Plug Power will post -1.21 earnings per share for the current year.

About Plug Power

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.

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