Here's Why Plug Power (PLUG) Fell More Than Broader Market

Plug Power (PLUG) ended the recent trading session at $2.18, demonstrating a -3.11% change from the preceding day's closing price. This change lagged the S&P 500's 1.67% loss on the day. At the same time, the Dow lost 1.73%, and the tech-heavy Nasdaq lost 2.15%.

The stock of alternative energy company has risen by 17.8% in the past month, leading the Computer and Technology sector's loss of 7.41% and the S&P 500's loss of 6.15%.

Investors will be eagerly watching for the performance of Plug Power in its upcoming earnings disclosure. The company is expected to report EPS of -$0.1, up 52.38% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $142.43 million, indicating a 6.55% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.33 per share and revenue of $798.63 million, which would represent changes of +76.76% and +12.5%, respectively, from the prior year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Plug Power. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.4% upward. At present, Plug Power boasts a Zacks Rank of #3 (Hold).

The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 25, putting it in the top 11% 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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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Plug Power, Inc. (PLUG): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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