Plug Power (PLUG) Declines More Than Market: Some Information for Investors

Plug Power (PLUG) closed at $3.48 in the latest trading session, marking a -9.61% move from the prior day. This change lagged the S&P 500's daily loss of 0.63%. Elsewhere, the Dow saw a downswing of 0.65%, while the tech-heavy Nasdaq depreciated by 0.47%. Shares of the alternative energy company witnessed a gain of 92.5% over the previous month, beating the performance of the Computer and Technology sector with its gain of 1.9%, and the S&P 500's gain of 0.92%.The investment community will be paying close attention to the earnings performance of Plug Power in its upcoming release. In that report, analysts expect Plug Power to post earnings of -$0.13 per share. This would mark year-over-year growth of 48%. Our most recent consensus estimate is calling for quarterly revenue of $183.01 million, up 5.34% from the year-ago period. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.62 per share and revenue of $707.52 million, indicating changes of +76.87% and +12.52%, respectively, compared to the previous year. Investors should also take note of any recent adjustments to analyst estimates for Plug Power. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits. Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. 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 0.87% higher within the past month. Currently, Plug Power is carrying a Zacks Rank of #2 (Buy). The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% 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. To follow PLUG in the coming trading sessions, be sure to utilize Zacks.com. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Plug Power, Inc. (PLUG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks