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

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) was the target of unusually large options trading activity on Monday. Investors bought 94,454 call options on the company. This represents an increase of 116% compared to the average daily volume of 43,813 call options.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PLUG shares. Truist Financial cut their price objective on shares of Plug Power from $2.00 to $1.50 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. Piper Sandler reduced their price target on Plug Power from $1.40 to $1.10 and set an "underweight" rating on the stock in a research report on Wednesday, March 5th. Canaccord Genuity Group lowered their price objective on Plug Power from $2.00 to $1.25 and set a "hold" rating for the company in a research report on Wednesday, March 5th. Seaport Res Ptn lowered Plug Power from a "hold" rating to a "strong sell" rating in a research report on Monday, January 27th. Finally, B. Riley decreased their price objective on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $2.29.

Institutional Trading of Plug Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLUG. Sanctuary Advisors LLC purchased a new stake in shares of Plug Power during the 3rd quarter worth about $206,000. Kieckhefer Group LLC purchased a new position in Plug Power during the fourth quarter worth approximately $138,000. Arkadios Wealth Advisors grew its holdings in Plug Power by 88.0% in the fourth quarter. Arkadios Wealth Advisors now owns 62,082 shares of the electronics maker's stock valued at $132,000 after purchasing an additional 29,062 shares during the period. ACT Wealth Management LLC increased its position in shares of Plug Power by 71.4% in the fourth quarter. ACT Wealth Management LLC now owns 24,000 shares of the electronics maker's stock valued at $51,000 after buying an additional 10,000 shares in the last quarter. Finally, Sustainable Insight Capital Management LLC acquired a new position in shares of Plug Power during the 4th quarter worth approximately $79,000. Institutional investors and hedge funds own 43.48% of the company's stock.

Plug Power Stock Performance

Shares of NASDAQ PLUG traded up $0.21 during midday trading on Monday, reaching $1.02. 219,126,466 shares of the stock were exchanged, compared to its average volume of 52,693,178. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The firm has a market cap of $943.68 million, a price-to-earnings ratio of -0.48 and a beta of 2.07. The firm has a 50-day simple moving average of $1.37 and a two-hundred day simple moving average of $1.91. Plug Power has a twelve month low of $0.76 and a twelve month high of $4.90.

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.

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