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Plug Power (PLUG) Stock Sinks As Market Gains: Here's Why
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In the latest trading session, Plug Power (PLUG - Free Report) closed at $2.67, marking a -1.48% move from the previous day. This change lagged the S&P 500's 0.12% gain on the day. On the other hand, the Dow registered a gain of 0.52%, and the technology-centric Nasdaq decreased by 0.23%.
Shares of the alternative energy company witnessed a gain of 10.61% over the previous month, beating the performance of the Industrial Products sector with its loss of 5.97% and the S&P 500's loss of 3.45%.
Investors will be eagerly watching for the performance of Plug Power in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.23, signifying a 78.5% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $272.41 million, up 22.62% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Plug Power. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Plug Power currently has 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 62, finds itself in the top 25% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Plug Power (PLUG) Stock Sinks As Market Gains: Here's Why
In the latest trading session, Plug Power (PLUG - Free Report) closed at $2.67, marking a -1.48% move from the previous day. This change lagged the S&P 500's 0.12% gain on the day. On the other hand, the Dow registered a gain of 0.52%, and the technology-centric Nasdaq decreased by 0.23%.
Shares of the alternative energy company witnessed a gain of 10.61% over the previous month, beating the performance of the Industrial Products sector with its loss of 5.97% and the S&P 500's loss of 3.45%.
Investors will be eagerly watching for the performance of Plug Power in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.23, signifying a 78.5% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $272.41 million, up 22.62% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Plug Power. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Plug Power currently has 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 62, finds itself in the top 25% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.