On May 31, 2023 at 14:23:00 ET an unusually large $5,449.25K block of Put contracts in Plug Power (PLUG) was sold, with a strike price of $35.00 / share, expiring in 233 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 2.92 sigmas above the mean, placing it in the 99.75th percentile of all recent large trades made in PLUG options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 891 funds or institutions reporting positions in Plug Power. This is a decrease of 32 owner(s) or 3.47% in the last quarter. Average portfolio weight of all funds dedicated to PLUG is 0.15%, a decrease of 5.52%. Total shares owned by institutions decreased in the last three months by 5.50% to 310,408K shares. The put/call ratio of PLUG is 0.63, indicating a bullish outlook.

Analyst Price Forecast Suggests 144.02% Upside

As of May 11, 2023, the average one-year price target for Plug Power is 21.57. The forecasts range from a low of 7.58 to a high of $81.90. The average price target represents an increase of 144.02% from its latest reported closing price of 8.84.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Plug Power is 1,419MM, an increase of 84.07%. The projected annual non-GAAP EPS is -0.64.

What are Other Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 18,095K shares representing 3.01% ownership of the company. In it’s prior filing, the firm reported owning 17,772K shares, representing an increase of 1.79%. The firm decreased its portfolio allocation in PLUG by 10.92% over the last quarter.

BNP Paribas Asset Management Holding holds 17,273K shares representing 2.88% ownership of the company. In it’s prior filing, the firm reported owning 17,214K shares, representing an increase of 0.35%. The firm decreased its portfolio allocation in PLUG by 7.94% over the last quarter.

VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 13,615K shares representing 2.27% ownership of the company. In it’s prior filing, the firm reported owning 13,554K shares, representing an increase of 0.44%. The firm decreased its portfolio allocation in PLUG by 7.88% over the last quarter.

ICLN – iShares Global Clean Energy ETF holds 10,236K shares representing 1.70% ownership of the company. In it’s prior filing, the firm reported owning 9,050K shares, representing an increase of 11.59%. The firm increased its portfolio allocation in PLUG by 9.80% over the last quarter.

Amundi holds 8,702K shares representing 1.45% ownership of the company. In it’s prior filing, the firm reported owning 5,874K shares, representing an increase of 32.50%. The firm decreased its portfolio allocation in PLUG by 94.29% over the last quarter.

Plug Power Background Information
(This description is provided by the company.)

Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell (HFC) turnkey solutions. The company’s innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while providing efficiency gains and meeting sustainability goals. Plug Power created the first commercially viable market for hydrogen fuel cell (HFC) technology. As a result, the company has deployed over 40,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs. Plug Power’s vertically-integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, The Southern Company, Carrefour, and Walmart. The company is now leveraging its know-how, modular product architecture and foundational customers to rapidly expand into other key markets including zero-emission on-road vehicles, robotics, and data centers.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K/A Amendment No. 1 (Mark One)

This article originally appeared on Fintel

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.