Plug Power (PLUG) closed at $1.16 in the latest trading session, marking a -4.92% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.52%. At the same time, the Dow added 1%, and the tech-heavy Nasdaq gained 0.52%.
The stock of alternative energy company has risen by 31.69% in the past month, leading the Computer and Technology sector's gain of 9.55% and the S&P 500's gain of 5.95%.
Analysts and investors alike will be keeping a close eye on the performance of Plug Power in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.15, reflecting a 58.33% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $153.26 million, reflecting a 6.91% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.59 per share and revenue of $715.37 million. These totals would mark changes of +77.99% and +13.77%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Plug Power. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.69% higher. Right now, Plug Power possesses a Zacks Rank of #3 (Hold).
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 149, placing it within the bottom 40% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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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