Plug Power (PLUG) closed at $2.36 in the latest trading session, marking a -1.67% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.5% for the day. Elsewhere, the Dow saw a downswing of 0.38%, while the tech-heavy Nasdaq depreciated by 0.5%.
The alternative energy company's shares have seen an increase of 48.15% over the last month, surpassing the Computer and Technology sector's gain of 8.21% and the S&P 500's gain of 2.74%.
The investment community will be closely monitoring the performance of Plug Power in its forthcoming earnings report. On that day, Plug Power is projected to report earnings of -$0.13 per share, which would represent year-over-year growth of 48%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $188.33 million, up 8.41% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$0.62 per share and a revenue of $707.02 million, demonstrating changes of +76.87% and +12.44%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Plug Power. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. 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. At present, this industry carries a Zacks Industry Rank of 84, placing it within the top 35% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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