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Plug Power (PLUG) Stock Sinks As Market Gains: What You Should Know
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Plug Power (PLUG - Free Report) closed at $23.44 in the latest trading session, marking a -1.97% move from the prior day. This change lagged the S&P 500's 0.08% gain on the day. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 0.42%.
Prior to today's trading, shares of the alternative energy company had lost 19.36% over the past month. This has lagged the Industrial Products sector's gain of 0.86% and the S&P 500's gain of 0.22% in that time.
Investors will be hoping for strength from Plug Power as it approaches its next earnings release. The company is expected to report EPS of -$0.12, down 140% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $157.5 million, up 12.77% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Plug Power. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 8.86% lower within the past month. Plug Power currently has 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 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
Plug Power (PLUG - Free Report) closed at $23.44 in the latest trading session, marking a -1.97% move from the prior day. This change lagged the S&P 500's 0.08% gain on the day. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 0.42%.
Prior to today's trading, shares of the alternative energy company had lost 19.36% over the past month. This has lagged the Industrial Products sector's gain of 0.86% and the S&P 500's gain of 0.22% in that time.
Investors will be hoping for strength from Plug Power as it approaches its next earnings release. The company is expected to report EPS of -$0.12, down 140% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $157.5 million, up 12.77% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Plug Power. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 8.86% lower within the past month. Plug Power currently has 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 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.