Traders Buy High Volume of Plug Power Call Options (NASDAQ:PLUG)

Plug Power Inc. (NASDAQ:PLUG – Get Rating) saw unusually large options trading activity on Monday. Traders purchased 67,887 call options on the stock. This represents an increase of approximately 33% compared to the average volume of 50,922 call options.

Plug Power Price Performance

Shares of PLUG stock opened at $17.44 on Tuesday. Plug Power has a 1 year low of $11.49 and a 1 year high of $32.05. The firm’s 50 day moving average is $14.54 and its 200-day moving average is $19.38. The firm has a market capitalization of $10.17 billion, a price-to-earnings ratio of -14.53 and a beta of 1.63. The company has a current ratio of 6.09, a quick ratio of 5.23 and a debt-to-equity ratio of 0.13.

Plug Power (NASDAQ:PLUG – Get Rating) last announced its earnings results on Tuesday, November 8th. The electronics maker reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). Plug Power had a negative return on equity of 15.56% and a negative net margin of 107.91%. The company had revenue of $188.63 million for the quarter, compared to analyst estimates of $239.94 million. Sell-side analysts forecast that Plug Power will post -1.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Plug Power

A number of large investors have recently modified their holdings of PLUG. US Bancorp DE raised its stake in shares of Plug Power by 7.9% during the first quarter. US Bancorp DE now owns 11,362 shares of the electronics maker’s stock worth $324,000 after buying an additional 833 shares during the last quarter. MetLife Investment Management LLC bought a new stake in shares of Plug Power during the first quarter worth approximately $947,000. Dimensional Fund Advisors LP raised its stake in shares of Plug Power by 34.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,250,478 shares of the electronics maker’s stock worth $35,771,000 after buying an additional 320,262 shares during the last quarter. Blair William & Co. IL raised its stake in shares of Plug Power by 12.6% during the first quarter. Blair William & Co. IL now owns 8,328 shares of the electronics maker’s stock worth $238,000 after buying an additional 934 shares during the last quarter. Finally, Prudential PLC bought a new stake in shares of Plug Power during the first quarter worth approximately $248,000. 52.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLUG has been the topic of several research reports. B. Riley dropped their price objective on shares of Plug Power from $32.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday, October 20th. BTIG Research dropped their price objective on shares of Plug Power to $25.00 in a report on Tuesday, November 15th. Morgan Stanley dropped their price objective on shares of Plug Power from $48.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, January 10th. Cowen decreased their target price on shares of Plug Power from $33.00 to $30.00 in a research report on Wednesday, November 9th. Finally, Jefferies Financial Group assumed coverage on shares of Plug Power in a research report on Tuesday, October 18th. They set a “buy” rating and a $28.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Plug Power currently has an average rating of “Moderate Buy” and a consensus target price of $26.17.

Plug Power Company Profile

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Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including green hydrogen production, storage and delivery, and energy generation through mobile or stationary applications.