Plug Power (PLUG) closed the most recent trading day at $2.23, moving -6.3% from the previous trading session. This change lagged the S&P 500's 0.42% gain on the day. On the other hand, the Dow registered a gain of 0.29%, and the technology-centric Nasdaq increased by 0.29%.
Shares of the alternative energy company witnessed a loss of 15.9% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 0.85%, and the S&P 500's gain of 2.2%.
Investors will be eagerly watching for the performance of Plug Power in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.08, indicating a 50% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $166.69 million, showing a 4.18% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.35 per share and revenue of $812.47 million, indicating changes of +75.35% and +14.45%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in 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.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Plug Power boasts a Zacks Rank of #3 (Hold).
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 53, this industry ranks in the top 22% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PLUG in the coming trading sessions, be sure to utilize Zacks.com.
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Plug Power, Inc. (PLUG): Free Stock Analysis Report
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