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Plug Power (PLUG) Stock Slides as Market Rises: Facts to Know Before You Trade
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The latest trading session saw Plug Power (PLUG - Free Report) ending at $4.19, denoting a -0.71% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.06%. On the other hand, the Dow registered a gain of 0.13%, and the technology-centric Nasdaq increased by 0.24%.
Shares of the alternative energy company have appreciated by 4.46% over the course of the past month, underperforming the Industrial Products sector's gain of 4.91% and the S&P 500's gain of 6.45%.
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 -$0.51 per share, which would represent a year-over-year decline of 34.21%. Meanwhile, the latest consensus estimate predicts the revenue to be $213.2 million, indicating a 3.42% decrease compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Plug Power. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 2.05% rise in the Zacks Consensus EPS estimate. Currently, Plug Power is carrying a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 31, finds itself in the top 13% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Plug Power (PLUG) Stock Slides as Market Rises: Facts to Know Before You Trade
The latest trading session saw Plug Power (PLUG - Free Report) ending at $4.19, denoting a -0.71% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.06%. On the other hand, the Dow registered a gain of 0.13%, and the technology-centric Nasdaq increased by 0.24%.
Shares of the alternative energy company have appreciated by 4.46% over the course of the past month, underperforming the Industrial Products sector's gain of 4.91% and the S&P 500's gain of 6.45%.
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 -$0.51 per share, which would represent a year-over-year decline of 34.21%. Meanwhile, the latest consensus estimate predicts the revenue to be $213.2 million, indicating a 3.42% decrease compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Plug Power. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 2.05% rise in the Zacks Consensus EPS estimate. Currently, Plug Power is carrying a Zacks Rank of #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 31, finds itself in the top 13% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.