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

Zacks Equity Research
·2 mins read

In the latest trading session, Plug Power (PLUG) closed at $17.88, marking a -1.89% move from the previous day. This change lagged the S&P 500's daily gain of 0.8%. Meanwhile, the Dow gained 0.43%, and the Nasdaq, a tech-heavy index, added 0.5%.

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 $104.91 million, up 86.07% from the year-ago period.

PLUG's full-year Zacks Consensus Estimates are calling for earnings of -$0.27 per share and revenue of $300.92 million. These results would represent year-over-year changes of +20.59% and +34.52%, respectively.

Investors should also note any 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.

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.

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. Over the past month, the Zacks Consensus EPS estimate has moved 5.59% higher. PLUG is holding a Zacks Rank of #2 (Buy) right now.

The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% 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.

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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Zacks Investment Research