Plug Power (PLUG) Stock Moves -0.95%: What You Should Know
Plug Power (PLUG) closed at $15.71 in the latest trading session, marking a -0.95% move from the prior day. This change was narrower than the S&P 500's 1.3% loss on the day. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 5.51%.
Coming into today, shares of the alternative energy company had gained 28.21% in the past month. In that same time, the Industrial Products sector gained 5.07%, while the S&P 500 gained 6.41%.
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 18.75%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $278.85 million, up 72.23% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Plug Power. These recent revisions tend to reflect the evolving nature of short-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 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. The Zacks Consensus EPS estimate has moved 12.91% 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 industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% 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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