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Plug Power (PLUG) Outpaces Stock Market Gains: What You Should Know

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Plug Power (PLUG - Free Report) closed the most recent trading day at $63.69, moving +1.9% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.03%. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 0.55%.

Prior to today's trading, shares of the alternative energy company had gained 72.94% over the past month. This has outpaced the Industrial Products sector's gain of 5.83% and the S&P 500's gain of 3.99% in that time.

PLUG will be looking to display strength as it nears its next earnings release. 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 $81.29 million, down 11.31% from the prior-year quarter.

Investors should also note any recent changes to analyst estimates for PLUG. Recent revisions tend to reflect the latest near-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. Over the past month, the Zacks Consensus EPS estimate has moved 10.71% higher. PLUG is holding a Zacks Rank of #3 (Hold) right now.

The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 127, putting it in the top 50% of all 250+ industries.

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.

To follow PLUG in the coming trading sessions, be sure to utilize Zacks.com.


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