Plug Power (PLUG) experienced a positive trading session, ending at $2.41 with a 1.26% increase from the previous day. This outperformed the S&P 500, which gained 1.02%, the Dow, which rose 0.4%, and the Nasdaq, which added 2.03%.
Despite today’s gains, Plug Power had previously seen a 30.81% decrease in its stock price over the past month, lagging behind the Industrial Products sector and the S&P 500. However, investors are eagerly anticipating the upcoming earnings release of the alternative energy company.
Analysts are forecasting an EPS of -$0.32 for Plug Power, showing an 8.57% improvement from the same quarter last year. Revenue estimates are projected to be $172.89 million, down 17.79% from the previous year.
The Zacks Consensus Estimates for the annual period predict earnings of -$0.94 per share and revenue of $1.02 billion, marking significant increases from the previous year.
Recent changes in analyst estimates for Plug Power indicate a positive outlook for the company’s future performance. The Zacks Rank system, which currently rates Plug Power as a #3 (Hold), has a strong track record of predicting stock price movements based on estimate changes.
Plug Power operates in the Manufacturing – Electronics industry within the Industrial Products sector, with a Zacks Industry Rank of 152. While this industry ranks in the bottom 40% of all industries, top-rated industries tend to outperform the lower-ranked ones.
Investors are encouraged to monitor these stock-moving metrics using Zacks.com for upcoming trading sessions. For more investment recommendations, Zacks Investment Research offers a free report on the 7 Best Stocks for the Next 30 Days.
Overall, Plug Power’s recent performance and upcoming earnings release have captured the attention of investors, making it a stock to watch in the coming days.
