Plug Power (PLUG) closed the most recent trading day at $1.49, moving +2.41% from the previous trading session. This change outpaced the S&P 500's 0.33% gain on the day. Meanwhile, the Dow experienced a rise of 1.08%, and the technology-dominated Nasdaq saw an increase of 0.08%.
The stock of alternative energy company has fallen by 28.22% in the past month, lagging the Computer and Technology sector's gain of 1.62% and the S&P 500's gain of 1.41%.
Analysts and investors alike will be keeping a close eye on the performance of Plug Power in its upcoming earnings disclosure. The company is expected to report EPS of -$0.07, up 41.67% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $185.38 million, indicating a 4.7% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.42 per share and revenue of $817.4 million. These totals would mark changes of +70.42% and +15.14%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Plug Power. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, 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 2.34% higher within the past month. 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. Currently, this industry holds a Zacks Industry Rank of 40, positioning it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the 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 Report
This article originally published on Zacks Investment Research (zacks.com).