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Plug Power (PLUG) Dips More Than Broader Markets: What You Should Know

3
Zacks Equity Research
·2 min read

Plug Power (PLUG) closed at $15.90 in the latest trading session, marking a -1.49% move from the prior day. This change lagged the S&P 500's daily loss of 1.11%. Elsewhere, the Dow lost 0.61%, while the tech-heavy Nasdaq lost 2.13%.

Coming into today, shares of the alternative energy company had gained 7.96% in the past month. In that same time, the Industrial Products sector gained 4.63%, while the S&P 500 gained 7%.

Plug Power will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.26, up 18.75% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $264.36 million, up 63.28% from the year-ago period.

Any recent changes to analyst estimates for Plug Power should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 past month, the Zacks Consensus EPS estimate has moved 13.32% lower. Plug Power currently has a Zacks Rank of #3 (Hold).

The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 182, which puts it in the bottom 28% 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.

To follow PLUG in the coming trading sessions, be sure to utilize Zacks.com.

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