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Plug Power (PLUG) Stock Sinks As Market Gains: Here's Why
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Plug Power (PLUG - Free Report) ended the recent trading session at $1.68, demonstrating a -2.89% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.6% for the day. Meanwhile, the Dow gained 0.83%, and the Nasdaq, a tech-heavy index, added 0.64%.
Coming into today, shares of the alternative energy company had lost 18.01% in the past month. In that same time, the Computer and Technology sector gained 4.03%, while the S&P 500 gained 1.34%.
The upcoming earnings release of Plug Power will be of great interest to investors. On that day, Plug Power is projected to report earnings of -$0.07 per share, which would represent year-over-year growth of 41.67%. At the same time, our most recent consensus estimate is projecting a revenue of $185.14 million, reflecting a 4.57% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.41 per share and a revenue of $817.52 million, signifying shifts of +71.13% and +15.16%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Plug Power. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, 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 past month, the Zacks Consensus EPS estimate has remained steady. Plug Power is currently sporting a Zacks Rank of #3 (Hold).
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 56, finds itself in the top 23% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
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Plug Power (PLUG) Stock Sinks As Market Gains: Here's Why
Plug Power (PLUG - Free Report) ended the recent trading session at $1.68, demonstrating a -2.89% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.6% for the day. Meanwhile, the Dow gained 0.83%, and the Nasdaq, a tech-heavy index, added 0.64%.
Coming into today, shares of the alternative energy company had lost 18.01% in the past month. In that same time, the Computer and Technology sector gained 4.03%, while the S&P 500 gained 1.34%.
The upcoming earnings release of Plug Power will be of great interest to investors. On that day, Plug Power is projected to report earnings of -$0.07 per share, which would represent year-over-year growth of 41.67%. At the same time, our most recent consensus estimate is projecting a revenue of $185.14 million, reflecting a 4.57% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.41 per share and a revenue of $817.52 million, signifying shifts of +71.13% and +15.16%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Plug Power. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, 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 past month, the Zacks Consensus EPS estimate has remained steady. Plug Power is currently sporting a Zacks Rank of #3 (Hold).
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 56, finds itself in the top 23% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.