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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 $63.99 in the latest trading session, marking a -0.53% move from the prior day. This change lagged the S&P 500's daily gain of 0.17%. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq added 0.38%.
Prior to today's trading, shares of the alternative energy company had lost 7.44% over the past month. This has lagged the Industrial Products sector's gain of 1.82% and the S&P 500's gain of 2.33% in that time.
Wall Street will be looking for positivity from PLUG as it approaches its next earnings report date. 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 $83.34 million, down 9.07% from the prior-year quarter.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 3.06% higher. PLUG 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 73, which puts it in the top 29% 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.
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 $63.99 in the latest trading session, marking a -0.53% move from the prior day. This change lagged the S&P 500's daily gain of 0.17%. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq added 0.38%.
Prior to today's trading, shares of the alternative energy company had lost 7.44% over the past month. This has lagged the Industrial Products sector's gain of 1.82% and the S&P 500's gain of 2.33% in that time.
Wall Street will be looking for positivity from PLUG as it approaches its next earnings report date. 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 $83.34 million, down 9.07% from the prior-year quarter.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 3.06% higher. PLUG 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 73, which puts it in the top 29% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.