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

·2 min read

Plug Power (PLUG) closed at $31.23 in the latest trading session, marking a -1.82% move from the prior day. This change lagged the S&P 500's 0.75% gain on the day.

Coming into today, shares of the alternative energy company had gained 27.39% in the past month. In that same time, the Industrial Products sector lost 2.53%, while the S&P 500 lost 0.05%.

Wall Street will be looking for positivity from PLUG as it approaches its next earnings report date. In that report, analysts expect PLUG to post earnings of -$0.09 per share. This would mark year-over-year growth of 18.18%. Meanwhile, our latest consensus estimate is calling for revenue of $150.04 million, up 40.24% from the prior-year quarter.

Any recent changes to analyst estimates for PLUG should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 1.68% lower. PLUG is currently sporting a Zacks Rank of #5 (Strong Sell).

The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 240, putting it in the bottom 6% 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.


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