Stock Traders Buy Large Volume of Put Options on Plug Power (PLUG)
Shares of Plug Power (NASDAQ:PLUG) saw unusually large options trading activity on Wednesday. Traders purchased 15,126 put options on the company, Stock Ratings Network reports. This is an increase of 100% compared to the average daily volume of 7,563 put options.
Several analysts have recently commented on the stock. Analysts at Roth Capital cut their price target on shares of Plug Power to $3.75 in a research note on Thursday, May 15th. They now have a “neutral” rating on the stock. Separately, analysts at Citigroup Inc. cut their price target on shares of Plug Power from $7.50 to $6.00 in a research note on Thursday, May 15th. They now have an “outperform” rating on the stock. Finally, analysts at Cowen and Company upgraded shares of Plug Power from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 15th. They now have a $6.00 price target on the stock, down previously from $7.50.
Plug Power (NASDAQ:PLUG) traded down 1.36% during mid-day trading on Wednesday, hitting $4.35. The stock had a trading volume of 9,012,712 shares. Plug Power has a one year low of $0.26 and a one year high of $11.72. The stock has a 50-day moving average of $4.79 and a 200-day moving average of $4.14. The company’s market cap is $727.0 million.
Plug Power (NASDAQ:PLUG) last released its earnings data on Wednesday, May 14th. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.05) by $0.01. The company had revenue of $5.60 million for the quarter, compared to the consensus estimate of $5.35 million. During the same quarter in the prior year, the company posted ($0.14) earnings per share. The company’s quarterly revenue was down 13.6% on a year-over-year basis. On average, analysts predict that Plug Power will post $-0.11 earnings per share for the current fiscal year.
Plug Power Inc (NASDAQ:PLUG), is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of fuel cell systems for the industrial off-road (forklift or material handling) market.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.