Plug Power (PLUG) Stock Sinks As Market Gains: What You Should Know

Plug Power (PLUG) closed the most recent trading day at $2.83, moving -3.41% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.06% for the day. Meanwhile, the Dow experienced a rise of 0.17%, and the technology-dominated Nasdaq saw an increase of 0.39%. The stock of alternative energy company has risen by 96.64% in the past month, leading the Computer and Technology sector's gain of 8.78% and the S&P 500's gain of 3.94%.The investment community will be paying close attention to the earnings performance of Plug Power in its upcoming release. The company's upcoming EPS is projected at -$0.13, signifying a 48.00% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $183.01 million, up 5.34% from the year-ago period. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.62 per share and a revenue of $707.52 million, indicating changes of +76.87% and +12.52%, respectively, from the former year. Investors should also take note of any recent adjustments to analyst estimates for Plug Power. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Our research suggests that these changes in estimates have a direct relationship with upcoming 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.09% higher. At present, Plug Power boasts a Zacks Rank of #3 (Hold). The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 48, this industry ranks in the top 20% of all industries, numbering over 250. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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