In the latest close session, Plug Power (PLUG) was down 3.09% at $1.57. The stock's change was less than the S&P 500's daily gain of 0.14%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq added 0.27%.
The alternative energy company's shares have seen an increase of 25.58% over the last month, surpassing the Computer and Technology sector's gain of 5.36% and the S&P 500's gain of 3.97%.
Market participants will be closely following the financial results of Plug Power in its upcoming release. In that report, analysts expect Plug Power to post earnings of -$0.16 per share. This would mark year-over-year growth of 55.56%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $152.54 million, up 6.41% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.6 per share and a revenue of $714.96 million, indicating changes of +77.61% and +13.7%, respectively, from the former year.
Any recent changes to analyst estimates for Plug Power should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Plug Power is holding a Zacks Rank of #3 (Hold) right now.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 38% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Plug Power, Inc. (PLUG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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