Plug Power (PLUG) Surpasses Market Returns: Some Facts Worth Knowing
The latest trading session saw Plug Power (PLUG) ending at $4.23, denoting a +1.44% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.96%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 1.3%.
The the stock of alternative energy company has risen by 37.17% in the past month, leading the Industrial Products sector's gain of 3.67% and the S&P 500's gain of 3.69%.
The investment community will be closely monitoring the performance of Plug Power in its forthcoming earnings report. The company is predicted to post an EPS of -$0.51, indicating a 34.21% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $211.97 million, showing a 3.97% drop compared to the year-ago quarter.
Investors should also take note of any recent adjustments to analyst estimates for Plug Power. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 2.05% higher within the past month. Currently, Plug Power is carrying a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 18, placing it within the top 8% of over 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.
To follow PLUG in the coming trading sessions, be sure to utilize Zacks.com.
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Plug Power, Inc. (PLUG) : Free Stock Analysis Report
