In the latest close session, Plug Power (PLUG) was down 8.73% at $2.51. The stock fell short of the S&P 500, which registered a loss of 1.17% for the day. Elsewhere, the Dow saw a downswing of 0.53%, while the tech-heavy Nasdaq depreciated by 2.04%.
Coming into today, shares of the alternative energy company had lost 33.41% in the past month. In that same time, the Computer and Technology sector gained 5.49%, while the S&P 500 gained 2.12%.
Investors will be eagerly watching for the performance of Plug Power in its upcoming earnings disclosure. In that report, analysts expect Plug Power to post earnings of -$0.13 per share. This would mark year-over-year growth of 48%. Alongside, our most recent consensus estimate is anticipating revenue of $173.54 million, indicating a 0.11% downward movement from the same quarter last year.
PLUG's full-year Zacks Consensus Estimates are calling for earnings of -$0.63 per share and revenue of $704.89 million. These results would represent year-over-year changes of +76.49% and +12.1%, respectively.
Investors should also note any recent changes to analyst estimates for Plug Power. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.08% higher. Plug Power is currently sporting a Zacks Rank of #2 (Buy).
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 54, placing it within the top 22% of over 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.
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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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