Plug Power (PLUG) closed the most recent trading day at $2.53, moving -4.53% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.55%. Elsewhere, the Dow saw a downswing of 0.19%, while the tech-heavy Nasdaq depreciated by 0.95%.
The alternative energy company's shares have seen an increase of 58.68% over the last month, surpassing the Computer and Technology sector's gain of 9.88% and the S&P 500's gain of 3.64%.
The investment community will be closely monitoring the performance of Plug Power in its forthcoming earnings report. In that report, analysts expect Plug Power to post earnings of -$0.13 per share. This would mark year-over-year growth of 48%. Simultaneously, our latest consensus estimate expects the revenue to be $188.33 million, showing a 8.41% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.61 per share and a revenue of $707.02 million, signifying shifts of +77.24% and +12.44%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Plug Power. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 2.01% higher. Plug Power currently has a Zacks Rank of #3 (Hold).
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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