Plug Power Stock Powered Up By Revenue Beat

Two analysts cut their PLUG price targets after the report

Assistant Editor
Aug 6, 2021 at 9:36 AM
facebook twitter linkedin

Plug Power Inc (NASDAQ:PLUG) is in the spotlight today, after the alternative energy name reported a second-quarter earnings miss, but better-than-expected revenue. To follow, J.P. Morgan Securities and RBC lowered their price targets to $48 and $35, respectively.

Despite the mixed report and bear notes, PLUG is up 8.9% to trade at $28.32 at last check. In the last month, the $25 level has provided a consistent floor for Plug Power stock's pullbacks. Today's pop has the stock breaking out of the summer-long congestion and clearing its 20-day moving average for the first time in a month.

Given the stock's 23% year-to-date deficit, there is still plenty of pessimism that could unwind and keep the wind at the stock's back. Of the 21 brokerages in coverage, eight carry a "hold" or "strong sell" rating on the stock. Meanwhile, although short interest fell by 12% in the two most recent reporting periods, the 43.49 million shares sold short still makes up 8.5% of PLUG's available float. 

What's more, the security's Schaeffer's Volatility Scorecard (SVS) sits at a high 99 out of 100. This means PLUG has exceeded option traders' volatility expectations during the past year.


If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

Schaeffer's Investment Research Master Portfolio Trial


Special Offers from Schaeffer's Trading Partners