Plug Power (PLUG) Stock Falls Amid Market Uptick: What Investors Need to Know

Plug Power (PLUG) closed the most recent trading day at $2.19, moving -5.6% from the previous trading session. This change lagged the S&P 500's 0.65% gain on the day. On the other hand, the Dow registered a gain of 0.48%, and the technology-centric Nasdaq increased by 0.82%. Shares of the alternative energy company witnessed a loss of 1.69% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 1.6%, and the S&P 500's gain of 1.15%.Market participants will be closely following the financial results of Plug Power in its upcoming release. The company is expected to report EPS of -$0.11, up 93.33% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $219.96 million, indicating a 14.88% upward movement from the same quarter last year. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.8 per share and a revenue of $701.76 million, indicating changes of +70.15% and 0%, respectively, from the former year. Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Plug Power. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. 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 97, which puts it in the top 40% 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. Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions. Free Report: Profiting from the 2nd Wave of AI ExplosionThe next phase of the AI explosion is poised to create significant wealth for investors, especially those who get in early. It will add literally trillion of dollars to the economy and revolutionize nearly every part of our lives.Investors who bought shares like Nvidia at the right time have had a shot at huge gains.But the rocket ride in the "first wave" of AI stocks may soon come to an end. The sharp upward trajectory of these stocks will begin to level off, leaving exponential growth to a new wave of cutting-edge companies.Zacks' AI Boom 2.0: The Second Wave report reveals 4 under-the-radar companies that may soon be shining stars of AI’s next leap forward.Access AI Boom 2.0 now, absolutely free >>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