Dynegy Sees Unusually Large Options Volume (DYN)
Dynegy Inc. (NYSE:DYN) was the target of some unusual options trading on Wednesday. Traders acquired 2,551 put options on the stock. This is an increase of 814% compared to the average daily volume of 279 put options.
Shares of Dynegy (DYN) opened at $11.31 on Friday. Dynegy has a 52 week low of $5.84 and a 52 week high of $12.84. The company has a quick ratio of 1.47, a current ratio of 1.97 and a debt-to-equity ratio of 5.46.
A number of hedge funds have recently bought and sold shares of the stock. QCM Cayman Ltd. purchased a new position in shares of Dynegy during the 2nd quarter worth $100,000. Integral Derivatives LLC purchased a new position in shares of Dynegy during the 2nd quarter worth $102,000. Profund Advisors LLC lifted its stake in shares of Dynegy by 20.2% during the 2nd quarter. Profund Advisors LLC now owns 15,801 shares of the utilities provider’s stock worth $131,000 after purchasing an additional 2,655 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Dynegy by 11.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,302 shares of the utilities provider’s stock worth $135,000 after purchasing an additional 1,643 shares during the period. Finally, Parametrica Management Ltd purchased a new position in shares of Dynegy during the 3rd quarter worth $150,000.
Several equities analysts recently issued reports on the company. Morgan Stanley set a $15.00 price target on Dynegy and gave the company a “buy” rating in a research report on Thursday, October 26th. Guggenheim restated a “buy” rating and issued a $18.00 price target (up previously from $14.00) on shares of Dynegy in a research report on Monday, August 21st. BidaskClub upgraded Dynegy from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Royal Bank Of Canada restated a “hold” rating and issued a $8.00 price target on shares of Dynegy in a research report on Tuesday, October 10th. Finally, Deutsche Bank upgraded Dynegy from a “sell” rating to a “hold” rating and set a $13.00 price target on the stock in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $12.34.
Dynegy Inc (Dynegy) is a holding company and conducts the business operations through its subsidiaries. The primary business of Dynegy is the production and sale of electric energy, capacity and ancillary services from the fleet of 18 operating power plants in six states totaling approximately 12,300 megawatt (MW) of generating capacity.
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