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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 $15.58, marking a -1.64% move from the previous day. This move lagged the S&P 500's daily loss of 0.28%. Meanwhile, the Dow gained 0.39%, and the Nasdaq, a tech-heavy index, lost 6.73%.

Prior to today's trading, shares of the alternative energy company had gained 3.46% over the past month. This has outpaced the Industrial Products sector's gain of 0.75% and the S&P 500's gain of 2.48% in that time.

Plug Power will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.26, up 18.75% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $264.36 million, up 63.28% from the prior-year quarter.

Any recent changes to analyst estimates for Plug Power should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 12.55% lower within the past month. Plug Power is currently sporting 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 43% 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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