Unusual Put Option Trade in Plug Power Worth $4,125.25K

On May 3, 2023 at 14:32:40 ET an unusually large $4,125.25K block of Put contracts in Plug Power (PLUG) was sold, with a strike price of $37.50 / share, expiring in 261 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 3.64 sigmas above the mean, placing it in the 99.98th 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 909 funds or institutions reporting positions in Plug Power. This is a decrease of 21 owner(s) or 2.26% in the last quarter. Average portfolio weight of all funds dedicated to PLUG is 0.22%, an increase of 20.59%. Total shares owned by institutions increased in the last three months by 3.75% to 330,115K shares. The put/call ratio of PLUG is 0.74, indicating a bullish outlook.

Analyst Price Forecast Suggests 156.36% Upside

As of April 24, 2023, the average one-year price target for Plug Power is $22.02. The forecasts range from a low of $9.09 to a high of $42.00. The average price target represents an increase of 156.36% from its latest reported closing price of $8.59.

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

The projected annual revenue for Plug Power is $1,419MM, an increase of 102.30%. The projected annual non-GAAP EPS is -$0.64.

What are Other Shareholders Doing?

Creative Financial Designs holds 6K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 6K shares, representing a decrease of 8.81%. The firm decreased its portfolio allocation in PLUG by 22.79% over the last quarter.

Mn Services Vermogensbeheer B.V. holds 254K shares representing 0.04% ownership of the company. No change in the last quarter.

JHML – John Hancock Multifactor Large Cap ETF holds 12K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 12K shares, representing an increase of 0.66%. The firm increased its portfolio allocation in PLUG by 0.43% over the last quarter.

Kistler-Tiffany Companies holds 8K shares representing 0.00% ownership of the company. No change in the last quarter.

Allianz Asset Management holds 1,747K shares representing 0.29% ownership of the company. In it’s prior filing, the firm reported owning 2,022K shares, representing a decrease of 15.69%. The firm decreased its portfolio allocation in PLUG by 99.97% 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.

See all Plug Power regulatory filings.

This article originally appeared on Fintel

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.