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

Plug Power Inc. (NASDAQ:PLUG) was the recipient of unusually large options trading on Monday. Traders purchased 59,489 call options on the stock. This is an increase of approximately 95% compared to the average daily volume of 30,492 call options.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PLUG shares. Canaccord Genuity Group decreased their target price on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Evercore ISI decreased their target price on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. BTIG Research lowered Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Royal Bank of Canada reduced their price target on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a research report on Monday, August 12th. Finally, Craig Hallum reduced their price target on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.52.

Institutional Investors Weigh In On Plug Power

A number of institutional investors have recently added to or reduced their stakes in the stock. SteelPeak Wealth LLC acquired a new stake in Plug Power in the second quarter worth about $26,000. Nations Financial Group Inc. IA ADV purchased a new position in shares of Plug Power in the second quarter worth about $26,000. Aire Advisors LLC purchased a new position in shares of Plug Power in the second quarter worth about $28,000. Madison Park Capital Advisors LLC purchased a new position in shares of Plug Power in the second quarter worth about $29,000. Finally, Profund Advisors LLC purchased a new position in shares of Plug Power in the second quarter worth about $29,000. Institutional investors own 43.48% of the company’s stock.

Plug Power Trading Up 15.9 %

NASDAQ:PLUG traded up $0.31 during midday trading on Monday, hitting $2.23. 77,216,586 shares of the company traded hands, compared to its average volume of 41,645,137. The firm’s fifty day moving average is $2.08 and its 200-day moving average is $2.38. Plug Power has a 12-month low of $1.60 and a 12-month high of $5.14. The firm has a market capitalization of $2.03 billion, a P/E ratio of -0.98 and a beta of 1.81. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUG) last released its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business had revenue of $173.70 million during the quarter, compared to analysts’ expectations of $207.25 million. During the same quarter in the previous year, the business earned ($0.47) EPS. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. On average, sell-side analysts predict that Plug Power will post -1.2 EPS for the current year.

About Plug Power

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.