Plug Power (PLUG) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research
·2 min read

In the latest trading session, Plug Power (PLUG) closed at $31.85, marking a +1.14% move from the previous day. This move outpaced the S&P 500's daily gain of 0.2%.

Heading into today, shares of the alternative energy company had gained 43.4% over the past month, outpacing the Industrial Products sector's loss of 1.99% and the S&P 500's gain of 1.06% in that time.

PLUG will be looking to display strength as it nears its next earnings release. In that report, analysts expect PLUG to post earnings of -$0.08 per share. This would mark year-over-year growth of 33.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $66.1 million, up 61.97% from the year-ago period.

Any recent changes to analyst estimates for PLUG should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Within the past 30 days, our consensus EPS projection has moved 2.3% lower. PLUG currently has a Zacks Rank of #3 (Hold).

The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 116, putting it in the top 46% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.


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