Plug Power (PLUG) closed the most recent trading day at $4.13, moving +0.98% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.13%. Meanwhile, the Dow gained 1.68%, and the Nasdaq, a tech-heavy index, added 0.43%.
Coming into today, shares of the alternative energy company had gained 7.35% in the past month. In that same time, the Industrial Products sector lost 0.58%, while the S&P 500 gained 2.1%.
PLUG will be looking to display strength as it nears its next earnings release. In that report, analysts expect PLUG to post earnings of -$0.06 per share. This would mark year-over-year growth of 25%. Our most recent consensus estimate is calling for quarterly revenue of $90.15 million, up 50.71% from the year-ago period.
Investors might also notice recent changes to analyst estimates for PLUG. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 28.71% lower within the past month. PLUG is currently a Zacks Rank #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 197, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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