Plug Power (PLUG) Gains But Lags Market: What You Should Know
In the latest trading session, Plug Power (PLUG) closed at $9.03, marking a +0.67% move from the previous day. This change lagged the S&P 500's 0.83% gain on the day. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 4.46%.
Heading into today, shares of the alternative energy company had lost 20.27% over the past month, lagging the Industrial Products sector's gain of 1.54% and the S&P 500's gain of 4.04% in that time.
Plug Power will be looking to display strength as it nears its next earnings release. On that day, Plug Power is projected to report earnings of -$0.26 per share, which would represent year-over-year growth of 3.7%. Our most recent consensus estimate is calling for quarterly revenue of $202.98 million, up 44.16% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.78 per share and revenue of $1.31 billion, which would represent changes of +37.6% and +86.79%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Plug Power. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, 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. The Zacks Consensus EPS estimate has moved 7.13% lower within the past month. Plug Power is holding a Zacks Rank of #3 (Hold) right now.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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
