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

Plug Power (PLUG) closed the most recent trading day at $2.92, moving -6.41% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.53%. Meanwhile, the Dow experienced a drop of 0.71%, and the technology-dominated Nasdaq saw a decrease of 0.93%. Heading into today, shares of the alternative energy company had gained 23.32% over the past month, outpacing the Computer and Technology sector's gain of 1.25% and the S&P 500's gain of 1.13%.Market participants will be closely following the financial results of Plug Power in its upcoming release. The company is expected to report EPS of -$0.13, up 48% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $183.01 million, up 5.34% from the year-ago period. PLUG's full-year Zacks Consensus Estimates are calling for earnings of -$0.62 per share and revenue of $707.52 million. These results would represent year-over-year changes of +76.87% and +12.52%, respectively. Investors should also take note of any recent adjustments to analyst estimates for Plug Power. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.36% upward. Right now, Plug Power possesses 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 51, which puts it in the top 21% 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 follow all of these stock-moving metrics, and many more, on 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