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Plug Power (PLUG) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Plug Power (PLUG - Free Report) closed at $47.25, marking a -1.89% move from the previous day. This move lagged the S&P 500's daily gain of 0.1%. Elsewhere, the Dow gained 0.9%, while the tech-heavy Nasdaq lost 0.59%.
Coming into today, shares of the alternative energy company had lost 24.74% in the past month. In that same time, the Industrial Products sector gained 6.22%, while the S&P 500 gained 0.71%.
Investors will be hoping for strength from PLUG as it approaches its next earnings release. In that report, analysts expect PLUG to post earnings of -$0.08 per share. This would mark year-over-year growth of 33.33%. Meanwhile, our latest consensus estimate is calling for revenue of $78.92 million, up 93.38% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for PLUG. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 23.68% lower. PLUG 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 106, which puts it in the top 42% 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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Plug Power (PLUG) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Plug Power (PLUG - Free Report) closed at $47.25, marking a -1.89% move from the previous day. This move lagged the S&P 500's daily gain of 0.1%. Elsewhere, the Dow gained 0.9%, while the tech-heavy Nasdaq lost 0.59%.
Coming into today, shares of the alternative energy company had lost 24.74% in the past month. In that same time, the Industrial Products sector gained 6.22%, while the S&P 500 gained 0.71%.
Investors will be hoping for strength from PLUG as it approaches its next earnings release. In that report, analysts expect PLUG to post earnings of -$0.08 per share. This would mark year-over-year growth of 33.33%. Meanwhile, our latest consensus estimate is calling for revenue of $78.92 million, up 93.38% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for PLUG. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 23.68% lower. PLUG 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 106, which puts it in the top 42% 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.