Plug Power (PLUG) closed the most recent trading day at $1.94, moving +1.57% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.25%. Elsewhere, the Dow lost 0.86%, while the tech-heavy Nasdaq added 0.24%.
The alternative energy company's shares have seen a decrease of 8.61% over the last month, not keeping up with the Computer and Technology sector's gain of 4% and the S&P 500's loss of 0.42%.
The upcoming earnings release of Plug Power will be of great interest to investors. The company's upcoming EPS is projected at -$0.07, signifying a 41.67% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $185.14 million, up 4.57% from the year-ago period.
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.
Investors might also notice recent changes to analyst estimates for Plug Power. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Plug Power possesses a Zacks Rank of #3 (Hold).
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 65, putting it in the top 27% of all 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Plug Power, Inc. (PLUG): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).