Plug Power, Inc. (NASDAQ:PLUG – Get Free Report) saw some unusual options trading on Tuesday. Investors acquired 103,595 call options on the stock. This represents an increase of approximately 57% compared to the typical volume of 65,812 call options.
Wall Street Analyst Weigh In
PLUG has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price target on shares of Plug Power from $2.00 to $2.50 and gave the company an “equal weight” rating in a research report on Tuesday, May 19th. Canaccord Genuity Group boosted their target price on shares of Plug Power from $2.50 to $4.00 and gave the company a “hold” rating in a report on Tuesday, May 12th. Jefferies Financial Group dropped their price objective on shares of Plug Power from $2.00 to $1.80 and set a “hold” rating on the stock in a report on Monday, March 9th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Plug Power in a research report on Tuesday, March 3rd. Finally, BMO Capital Markets raised their price objective on shares of Plug Power from $1.00 to $1.20 and gave the stock an “underperform” rating in a report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3.42.
View Our Latest Stock Report on Plug Power
Plug Power Stock Up 1.6%
Plug Power (NASDAQ:PLUG – Get Free Report) last released its earnings results on Monday, May 11th. The electronics maker reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The firm had revenue of $163.51 million during the quarter, compared to the consensus estimate of $139.87 million. Plug Power had a negative return on equity of 49.30% and a negative net margin of 227.13%.The company’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) earnings per share. On average, equities research analysts anticipate that Plug Power will post -0.26 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Plug Power
A number of hedge funds have recently bought and sold shares of the stock. Kovack Advisors Inc. purchased a new position in shares of Plug Power in the 3rd quarter valued at about $26,000. Prakash Investment Advisors LLC acquired a new position in shares of Plug Power in the third quarter worth $27,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Plug Power in the third quarter valued at $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in shares of Plug Power by 116.7% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 13,000 shares of the electronics maker’s stock valued at $26,000 after purchasing an additional 7,000 shares during the period. Finally, Simplicity Wealth LLC purchased a new stake in Plug Power during the third quarter valued at about $32,000. Institutional investors and hedge funds own 43.48% of the company’s stock.
About Plug Power
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.
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