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Plug Power (PLUG) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Plug Power (PLUG - Free Report) closed at $12.14, marking a -1.78% move from the previous day. This move lagged the S&P 500's daily loss of 0.1%. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 5.8%.
Coming into today, shares of the alternative energy company had gained 14.23% in the past month. In that same time, the Industrial Products sector gained 5.2%, while the S&P 500 gained 3.39%.
Investors will be hoping for strength from Plug Power as it approaches its next earnings release. In that report, analysts expect Plug Power to post earnings of -$0.26 per share. This would mark year-over-year growth of 13.33%. Our most recent consensus estimate is calling for quarterly revenue of $242.45 million, up 60.27% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.93 per share and revenue of $1.28 billion, which would represent changes of +25.6% and +83.16%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Plug Power. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 2.76% lower. Plug Power is currently a Zacks Rank #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 18, putting it in the top 8% 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Plug Power (PLUG - Free Report) closed at $12.14, marking a -1.78% move from the previous day. This move lagged the S&P 500's daily loss of 0.1%. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 5.8%.
Coming into today, shares of the alternative energy company had gained 14.23% in the past month. In that same time, the Industrial Products sector gained 5.2%, while the S&P 500 gained 3.39%.
Investors will be hoping for strength from Plug Power as it approaches its next earnings release. In that report, analysts expect Plug Power to post earnings of -$0.26 per share. This would mark year-over-year growth of 13.33%. Our most recent consensus estimate is calling for quarterly revenue of $242.45 million, up 60.27% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.93 per share and revenue of $1.28 billion, which would represent changes of +25.6% and +83.16%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Plug Power. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 2.76% lower. Plug Power is currently a Zacks Rank #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 18, putting it in the top 8% 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.