Plug Power (PLUG) closed the most recent trading day at $2.10, moving +1.2% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.47%. Meanwhile, the Dow experienced a rise of 0.04%, and the technology-dominated Nasdaq saw an increase of 0.9%.
Shares of the alternative energy company have depreciated by 5.25% over the course of the past month, underperforming the Computer and Technology sector's loss of 1.96%, and the S&P 500's loss of 0.16%.
Analysts and investors alike will be keeping a close eye on the performance of Plug Power in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.1, marking a 93.94% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $220.68 million, indicating a 15.25% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.82 per share and revenue of $701.99 million, indicating changes of +69.4% and +11.64%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Plug Power. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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. The Zacks Consensus EPS estimate has moved 0.56% lower within the past month. Plug Power is currently sporting 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 53, which puts it in the top 22% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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