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Why Plug Power (PLUG) Dipped More Than Broader Market Today
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Plug Power (PLUG - Free Report) ended the recent trading session at $2.48, demonstrating a -6.06% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.45%. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq depreciated by 1.16%.
Heading into today, shares of the alternative energy company had lost 17.24% over the past month, lagging the Computer and Technology sector's gain of 0.38% and the S&P 500's gain of 2.14%.
Investors will be eagerly watching for the performance of Plug Power in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.08, signifying a 50.00% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $166.69 million, reflecting a 4.18% fall from the equivalent quarter last year.
PLUG's full-year Zacks Consensus Estimates are calling for earnings of -$0.35 per share and revenue of $812.47 million. These results would represent year-over-year changes of +75.35% and +14.45%, respectively.
Any recent changes to analyst estimates for Plug Power should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Plug Power holds a Zacks Rank of #3 (Hold).
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 62, putting it in the top 26% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PLUG in the coming trading sessions, be sure to utilize Zacks.com.
View the Zacks #1 Rank List
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Why Plug Power (PLUG) Dipped More Than Broader Market Today
Plug Power (PLUG - Free Report) ended the recent trading session at $2.48, demonstrating a -6.06% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.45%. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq depreciated by 1.16%.
Heading into today, shares of the alternative energy company had lost 17.24% over the past month, lagging the Computer and Technology sector's gain of 0.38% and the S&P 500's gain of 2.14%.
Investors will be eagerly watching for the performance of Plug Power in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.08, signifying a 50.00% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $166.69 million, reflecting a 4.18% fall from the equivalent quarter last year.
PLUG's full-year Zacks Consensus Estimates are calling for earnings of -$0.35 per share and revenue of $812.47 million. These results would represent year-over-year changes of +75.35% and +14.45%, respectively.
Any recent changes to analyst estimates for Plug Power should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Plug Power holds a Zacks Rank of #3 (Hold).
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 62, putting it in the top 26% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PLUG in the coming trading sessions, be sure to utilize Zacks.com.