Plug Power (PLUG) closed at $1.86 in the latest trading session, marking no change from the prior day. The stock's change was more than the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.28%, and the tech-heavy Nasdaq lost 1.2%.
The the stock of alternative energy company has fallen by 29.28% in the past month, lagging the Industrial Products sector's gain of 4.25% and the S&P 500's gain of 2.71%.
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, the Zacks Consensus Estimate for revenue is projecting net sales of $260.18 million, up 17.11% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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 company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection remained stagnant. Plug Power is currently a Zacks Rank #3 (Hold).
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 136, which puts it in the bottom 46% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Plug Power, Inc. (PLUG) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.