Plug Power (PLUG) closed at $1.96 in the latest trading session, marking a -3.92% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.03%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, added 0.01%.
Shares of the alternative energy company have depreciated by 5.99% over the course of the past month, underperforming the Computer and Technology sector's gain of 5.26%, and the S&P 500's gain of 0.53%.
Market participants will be closely following the financial results of Plug Power in its upcoming release. The company is expected to report EPS of -$0.07, up 41.67% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $185.14 million, showing a 4.57% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.41 per share and revenue of $817.52 million, which would represent changes of +71.13% and +15.16%, respectively, from the prior year.
Any recent changes to analyst estimates for Plug Power should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Plug Power boasts 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 44, placing it within the top 18% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Plug Power, Inc. (PLUG): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).