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Plug Power (PLUG) Stock Sinks As Market Gains: Here's Why
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Plug Power (PLUG - Free Report) closed at $1.77 in the latest trading session, marking a -3.8% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.02%. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq appreciated by 0.33%.
Heading into today, shares of the alternative energy company had gained 58.62% over the past month, outpacing the Computer and Technology sector's gain of 6.31% and the S&P 500's gain of 4.93%.
Market participants will be closely following the financial results of Plug Power in its upcoming release. It is anticipated that the company will report an EPS of -$0.15, marking a 58.33% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $151.2 million, reflecting a 5.47% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.59 per share and a revenue of $709.38 million, demonstrating changes of +77.99% and +12.81%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Plug Power. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.21% increase. Plug Power currently has a Zacks Rank of #3 (Hold).
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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
Plug Power (PLUG - Free Report) closed at $1.77 in the latest trading session, marking a -3.8% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.02%. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq appreciated by 0.33%.
Heading into today, shares of the alternative energy company had gained 58.62% over the past month, outpacing the Computer and Technology sector's gain of 6.31% and the S&P 500's gain of 4.93%.
Market participants will be closely following the financial results of Plug Power in its upcoming release. It is anticipated that the company will report an EPS of -$0.15, marking a 58.33% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $151.2 million, reflecting a 5.47% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.59 per share and a revenue of $709.38 million, demonstrating changes of +77.99% and +12.81%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Plug Power. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.21% increase. Plug Power currently has a Zacks Rank of #3 (Hold).
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.