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Plug Power (PLUG) Gains But Lags Market: What You Should Know
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In the latest trading session, Plug Power (PLUG - Free Report) closed at $67.67, marking a +0.43% move from the previous day. The stock lagged the S&P 500's daily gain of 1.09%. Meanwhile, the Dow gained 1.08%, and the Nasdaq, a tech-heavy index, added 1.23%.
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 -$0.07 per share, which would represent a year-over-year decline of 16.67%. Meanwhile, our latest consensus estimate is calling for revenue of $83.34 million, down 9.07% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for PLUG. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 15.18% higher within the past month. PLUG is currently sporting a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% 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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Plug Power (PLUG) Gains But Lags Market: What You Should Know
In the latest trading session, Plug Power (PLUG - Free Report) closed at $67.67, marking a +0.43% move from the previous day. The stock lagged the S&P 500's daily gain of 1.09%. Meanwhile, the Dow gained 1.08%, and the Nasdaq, a tech-heavy index, added 1.23%.
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 -$0.07 per share, which would represent a year-over-year decline of 16.67%. Meanwhile, our latest consensus estimate is calling for revenue of $83.34 million, down 9.07% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for PLUG. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 15.18% higher within the past month. PLUG is currently sporting a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% 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.