Plug Power (PLUG) Surpasses Market Returns: Some Facts Worth Knowing

In the latest market close, Plug Power (PLUG) reached $3.59, with a +1.99% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.32% for the day. Elsewhere, the Dow saw an upswing of 0.68%, while the tech-heavy Nasdaq appreciated by 0.2%.

Shares of the alternative energy company have appreciated by 3.38% over the course of the past month, underperforming the Industrial Products sector's gain of 7.87% and the S&P 500's gain of 5.11%.

Market participants will be closely following the financial results of Plug Power in its upcoming release. On that day, Plug Power is projected to report earnings of -$0.32 per share, which would represent year-over-year growth of 8.57%. Meanwhile, the latest consensus estimate predicts the revenue to be $173.97 million, indicating a 17.27% decrease compared to the same quarter of the previous year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.97 per share and a revenue of $1.03 billion, representing changes of +57.83% and +15.04%, respectively, from the prior year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Plug Power. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. The Zacks Consensus EPS estimate has moved 0.93% lower within the past month. Plug Power presently features a Zacks Rank of #3 (Hold).

The Manufacturing - Electronics industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 68, positioning it in the top 27% of all 250+ industries.

The Zacks Industry Rank is ordered 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.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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