Plug Power Sees Unusually High Options Volume (PLUG)
Plug Power (NASDAQ:PLUG) was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 55,617 call options on the company, American Banking and Market News reports. This is an increase of approximately 533% compared to the typical volume of 8,790 call options.
PLUG has been the subject of a number of recent research reports. 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 up 17.72% on Wednesday, hitting $5.05. The stock had a trading volume of 57,231,436 shares. Plug Power has a 52-week low of $0.26 and a 52-week high of $11.72. The stock’s 50-day moving average is $4.22 and its 200-day moving average is $4.37. The company’s market cap is $843.9 million.
Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.06) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.14) earnings per share. Plug Power’s revenue was down 13.6% compared to the same quarter last year. Analysts expect that Plug Power will post $-0.11 EPS 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.
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