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Plug Power (PLUG) Gains As Market Dips: What You Should Know

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  • PLUG
  • ^GSPC

Plug Power (PLUG) closed the most recent trading day at $34.41, moving +0.7% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.51%.

Coming into today, shares of the alternative energy company had gained 27.36% in the past month. In that same time, the Industrial Products sector gained 0.34%, while the S&P 500 gained 3.08%.

Wall Street will be looking for positivity from PLUG as it approaches its next earnings report date. On that day, PLUG is projected to report earnings of -$0.10 per share, which would represent year-over-year growth of 9.09%. Our most recent consensus estimate is calling for quarterly revenue of $152.26 million, up 42.31% from the year-ago period.

Any recent changes to analyst estimates for PLUG should also be noted by investors. 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. 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 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. Within the past 30 days, our consensus EPS projection has moved 1.19% lower. PLUG 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 227, putting it in the bottom 11% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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