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Plug Power (PLUG) Rises As Market Takes a Dip: Key Facts
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In the latest market close, Plug Power (PLUG - Free Report) reached $3.04, with a +1% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.38%. Elsewhere, the Dow saw a downswing of 0.16%, while the tech-heavy Nasdaq depreciated by 0.13%.
The alternative energy company's shares have seen a decrease of 11.47% over the last month, not keeping up with the Industrial Products sector's gain of 6.21% and the S&P 500's gain of 4.74%.
The investment community will be closely monitoring the performance of Plug Power in its forthcoming earnings report. The company is scheduled to release its earnings on March 1, 2024. The company's upcoming EPS is projected at -$0.57, signifying a 50% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $202.08 million, down 8.45% from the prior-year quarter.
Investors should also note any 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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.59% 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 industry, currently bearing a Zacks Industry Rank of 48, finds itself in the top 20% echelons 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Plug Power (PLUG) Rises As Market Takes a Dip: Key Facts
In the latest market close, Plug Power (PLUG - Free Report) reached $3.04, with a +1% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.38%. Elsewhere, the Dow saw a downswing of 0.16%, while the tech-heavy Nasdaq depreciated by 0.13%.
The alternative energy company's shares have seen a decrease of 11.47% over the last month, not keeping up with the Industrial Products sector's gain of 6.21% and the S&P 500's gain of 4.74%.
The investment community will be closely monitoring the performance of Plug Power in its forthcoming earnings report. The company is scheduled to release its earnings on March 1, 2024. The company's upcoming EPS is projected at -$0.57, signifying a 50% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $202.08 million, down 8.45% from the prior-year quarter.
Investors should also note any 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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.59% 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 industry, currently bearing a Zacks Industry Rank of 48, finds itself in the top 20% echelons 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.
You can find more information on all of these metrics, and much more, on Zacks.com.