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

Plug Power, Inc. (NASDAQ:PLUG) was the target of some unusual options trading activity on Monday. Investors bought 68,127 call options on the company. This represents an increase of approximately 31% compared to the typical volume of 52,172 call options.

Plug Power Price Performance

PLUG opened at $2.69 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.31 and a quick ratio of 1.46. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of -1.99 and a beta of 1.79. The firm’s fifty day moving average price is $2.14 and its two-hundred day moving average price is $2.38. Plug Power has a 1 year low of $0.69 and a 1 year high of $4.58.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Monday, March 2nd. The electronics maker reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $225.22 million for the quarter, compared to the consensus estimate of $217.38 million. Plug Power had a negative net margin of 229.83% and a negative return on equity of 45.97%. During the same period in the previous year, the firm earned ($1.48) EPS. As a group, analysts anticipate that Plug Power will post -1.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Plug Power news, insider Benjamin Haycraft sold 40,000 shares of the business’s stock in a transaction on 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. The trade was a 10.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Plug Power

A number of hedge funds have recently bought and sold shares of the company. J. Derek Lewis & Associates Inc. purchased a new position in Plug Power during the 4th quarter worth $535,000. DUTCH ASSET Corp purchased a new position in shares of Plug Power in the 4th quarter worth about $29,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Plug Power by 572.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 154,920 shares of the electronics maker’s stock worth $305,000 after buying an additional 131,892 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Plug Power by 40.2% in the 4th quarter. Invesco Ltd. now owns 10,291,428 shares of the electronics maker’s stock worth $20,274,000 after buying an additional 2,949,397 shares during the last quarter. Finally, Vident Advisory LLC purchased a new position in shares of Plug Power in the 4th quarter worth about $340,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLUG has been the subject of a number of recent research reports. Weiss Ratings restated 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. TD Cowen lowered shares of Plug Power from a “buy” rating to a “hold” rating in a research note on Friday, January 9th. BTIG Research restated a “neutral” rating on shares of Plug Power in a research note on Tuesday, March 3rd. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Plug Power in a report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, Plug Power presently has an average rating of “Hold” and an average price target of $3.00.

Plug Power Company Profile

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.