Plug Power, Inc. (NASDAQ:PLUG – Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 114,907 call options on the company. This represents an increase of approximately 44% compared to the average daily volume of 79,527 call options.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of PLUG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Plug Power by 19.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,309,399 shares of the electronics maker’s stock valued at $4,919,000 after buying an additional 379,723 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Plug Power by 35.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 64,440 shares of the electronics maker’s stock worth $137,000 after purchasing an additional 16,878 shares during the period. ACT Wealth Management LLC boosted its stake in Plug Power by 58.3% during the 1st quarter. ACT Wealth Management LLC now owns 38,000 shares of the electronics maker’s stock worth $51,000 after purchasing an additional 14,000 shares during the period. AFG Fiduciary Services Limited Partnership acquired a new stake in Plug Power during the 1st quarter worth $53,000. Finally, Miracle Mile Advisors LLC acquired a new stake in Plug Power during the 1st quarter worth $26,000. Institutional investors and hedge funds own 43.48% of the company’s stock.
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Plug Power Trading Up 25.8%
Shares of Plug Power stock opened at $2.93 on Thursday. The company has a fifty day simple moving average of $1.75 and a 200-day simple moving average of $1.37. Plug Power has a 12-month low of $0.69 and a 12-month high of $3.32. The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of -1.27 and a beta of 2.23.
Plug Power (NASDAQ:PLUG – Get Free Report) last issued its earnings results on Monday, August 11th. The electronics maker reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. The company had revenue of $173.97 million during the quarter, compared to analyst estimates of $157.97 million. On average, equities analysts forecast that Plug Power will post -1.21 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on PLUG shares. Susquehanna lifted their price objective on shares of Plug Power from $1.00 to $1.80 and gave the company a “neutral” rating in a report on Monday, July 21st. BMO Capital Markets dropped their price objective on shares of Plug Power from $1.10 to $1.00 and set an “underperform” rating for the company in a report on Tuesday, August 12th. Evercore ISI upgraded shares of Plug Power to a “strong sell” rating in a report on Tuesday, July 15th. Jefferies Financial Group lifted their price objective on shares of Plug Power from $0.90 to $1.60 and gave the company a “hold” rating in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company increased their price objective on shares of Plug Power from $1.00 to $1.50 and gave the company an “equal weight” rating in a research report on Thursday, August 14th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, Plug Power currently has a consensus rating of “Reduce” and a consensus price target of $1.88.
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Plug Power Company Profile
(Get Free Report)
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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