Plug Power (PLUG) closed at $2.08 in the latest trading session, marking a -1.89% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.17% for the day. At the same time, the Dow lost 0.18%, and the tech-heavy Nasdaq gained 0.4%.
Heading into today, shares of the alternative energy company had lost 3.64% over the past month, lagging the Computer and Technology sector's gain of 0.37% and the S&P 500's loss of 1.29%.
Market participants will be closely following the financial results of Plug Power in its upcoming release. It is anticipated that the company will report an EPS of -$0.07, marking a 41.67% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $185.14 million, indicating a 4.57% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.41 per share and a revenue of $817.52 million, representing 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 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, 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. The Zacks Consensus EPS estimate remained stagnant 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. This industry currently has a Zacks Industry Rank of 45, which puts it in the top 19% of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Plug Power, Inc. (PLUG): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).