Plug Power Reports On Thursday. Here’s A Closer Look.

Plug Power
PLUG
is scheduled to report earnings after Thursday’s close. The stock hit a record high of $75.49/share in January 2021 and is currently trading near $49/share. The stock is prone to big moves after reporting earnings and can easily gap up if the numbers are strong. Conversely, if the numbers disappoint, the stock can easily gap down. To help you prepare, here is what the Street is expecting:

Earnings Preview:

Plug Power is expected to report a loss of ($0.08)/share on $83.34 million in revenue. Meanwhile, the so-called Whisper number is a loss of ($0.09)/share. The Whisper number is the Street’s unofficial view on earnings.

A Closer Look At The Fundamentals:

The fundamental story looks very promising for Plug Power. For the past few months, we have seen interest in alternative energy stocks soar and Plug Power is a clear leader in this highly-coveted space.

A Closer Look At The Technicals:

Technically, the stock is pulling back after recently hitting fresh all time highs. It is perfectly normal for stocks to pullback after a huge rally to digest that move. The bulls want to see the stock jump back above the 50 day moving average line (red line) above. Then, trade above the prior chart highs of $75.49/share.

Pay Attention To How The Stock Reacts To The News:

From where I sit, the most important trait I look for during earnings season is how the market and a specific company reacts to the news. Remember, always keep your losses small and never argue with the tape.