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Should i buy plug stock10/5/2023 ![]() On May 23, short sales accounted for 49% of PLUG's "off-exchange" volume, and on May 24, the equivalent figure was 50.57%. In the last few days, the percentage of PLUG's trading volume being sold short outside of the main stock exchanges has declined significantly. On May 22, May 23, and May 24, the ratio was either 0.64 or 0.65. The trend of Plug's put/call ratios has generally been fairly stable in recent weeks, as the ratio has stayed between 0.64 and 0.78 for the entire month. As of May 25, the put/call ratios for options expiring on May 26, June 2, June 9, and June 16 were 0.66, 0.50, 0.29, and 0.57, respectively. PLUG's put/call ratios have been generally bullish, Fintel’s dashboard shows. ![]() Finally, the Canada Pension Plan Investment Board acquired 215,200 shares last quarter and State Street bought 1.05 million shares, while Morgan Stanley added 1.187 million shares. For its part, Ameriprise Financial acquired 107,389 shares of PLUG stock in Q1. Included in those shares was a call option on 28,900 shares of PLUG stock.Īdditionally, apparently as a hedge on its purchase, Point72 acquired a put option on 4,500 shares. Meanwhile, Point72 Asset Management, the hedge fund led by Steve Cohen, the well-known, multi-billionaire investor, bought PLUG shares for the first time in Q1, acquiring 2.277 million of them, the fund disclosed on May 15. Data compiled by Fintel shows itts stake was worth $11 million on May 18, when the bank reported its position. In the first quarter, JPMorgan, America's largest bank, bought 1.966 million shares of PLUG stock, including a call option on 940,700 shares, bringing its total ownership of PLUG shares to 2.566 million shares. JPMorgan and Other Large Institutional Investors Bought PLUG Stock in Q1 ![]() The company is fast becoming one of the world's largest developers of green hydrogen and recently announced a significant new deal. Plug Power is a leading provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used primarily for the material handling and stationary power market, according to its Finpedia entry. Mid-session today, the shares are trading hands at $8.26 a piece. The forecasts range from a low of $7.58 to a high of $81.90. The average 12-month price target for Plug Power is $21.57. Nasdaq-traded PLUG stock is down 32% year to date. America's largest bank invested a significant amount of money in Plug Power (US:PLUG) last quarter, and fewer shares of PLUG stock have been sold short outside of the major exchanges in recent days, data compiled by Fintel shows.
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