Plug Power (PLUG) Sees a More Significant Dip Than Broader Market: Some Facts to Know

In the latest close session, Plug Power (PLUG) was down 6.8% at $1.37. This move lagged the S&P 500's daily loss of 0.79%. On the other hand, the Dow registered a loss of 0.94%, and the technology-centric Nasdaq decreased by 0.92%. Prior to today's trading, shares of the alternative energy company had gained 51.67% outpaced the Computer and Technology sector's gain of 7.88% and the S&P 500's gain of 5.22%.Analysts and investors alike will be keeping a close eye on the performance of Plug Power in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.15, reflecting a 58.33% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $153.26 million, up 6.91% from the year-ago period. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.59 per share and a revenue of $715.37 million, indicating changes of +77.99% and +13.77%, respectively, from the former year. It is also important to note the recent changes to analyst estimates for Plug Power. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Plug Power holds a Zacks Rank of #3 (Hold). The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 37% of all 250+ industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions. Should You Invest in Plug Power, Inc. (PLUG)?Before you invest in Plug Power, Inc. (PLUG), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)Want 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