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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 at $14.65 in the latest trading session, marking a +0.76% move from the prior day. This change outpaced the S&P 500's 0.53% gain on the day. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 5.2%.
Coming into today, shares of the alternative energy company had lost 11.02% in the past month. In that same time, the Industrial Products sector gained 2.32%, while the S&P 500 gained 0.67%.
Wall Street will be looking for positivity from Plug Power as it approaches its next earnings report date. This is expected to be March 1, 2023. In that report, analysts expect Plug Power to post earnings of -$0.26 per share. This would mark year-over-year growth of 18.75%. Meanwhile, our latest consensus estimate is calling for revenue of $264.36 million, up 63.28% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Plug Power. These revisions help to show the ever-changing nature of 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. 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 a Zacks Rank #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Outpaces Stock Market Gains: What You Should Know
Plug Power (PLUG - Free Report) closed at $14.65 in the latest trading session, marking a +0.76% move from the prior day. This change outpaced the S&P 500's 0.53% gain on the day. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 5.2%.
Coming into today, shares of the alternative energy company had lost 11.02% in the past month. In that same time, the Industrial Products sector gained 2.32%, while the S&P 500 gained 0.67%.
Wall Street will be looking for positivity from Plug Power as it approaches its next earnings report date. This is expected to be March 1, 2023. In that report, analysts expect Plug Power to post earnings of -$0.26 per share. This would mark year-over-year growth of 18.75%. Meanwhile, our latest consensus estimate is calling for revenue of $264.36 million, up 63.28% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Plug Power. These revisions help to show the ever-changing nature of 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. 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 a Zacks Rank #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.