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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 $2.26, marking a -0.88% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.42%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq added 0.38%.
Shares of the alternative energy company witnessed a gain of 21.28% over the previous month, beating the performance of the Industrial Products sector with its gain of 6.17% and the S&P 500's gain of 2.06%.
The investment community will be closely monitoring the performance of Plug Power in its forthcoming earnings report. On that day, Plug Power is projected to report earnings of -$0.25 per share, which would represent year-over-year growth of 46.81%. Our most recent consensus estimate is calling for quarterly revenue of $231.18 million, up 16.34% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$1.15 per share and a revenue of $831.33 million, demonstrating changes of +50% and -6.73%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Plug Power. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.24% lower within the past month. At present, Plug Power boasts a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 23, this industry ranks in the top 10% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming 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 $2.26, marking a -0.88% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.42%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq added 0.38%.
Shares of the alternative energy company witnessed a gain of 21.28% over the previous month, beating the performance of the Industrial Products sector with its gain of 6.17% and the S&P 500's gain of 2.06%.
The investment community will be closely monitoring the performance of Plug Power in its forthcoming earnings report. On that day, Plug Power is projected to report earnings of -$0.25 per share, which would represent year-over-year growth of 46.81%. Our most recent consensus estimate is calling for quarterly revenue of $231.18 million, up 16.34% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$1.15 per share and a revenue of $831.33 million, demonstrating changes of +50% and -6.73%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Plug Power. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.24% lower within the past month. At present, Plug Power boasts a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 23, this industry ranks in the top 10% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.