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

Plug Power (PLUG) closed the most recent trading day at $2.88, moving -1.37% from the previous trading session. This change lagged the S&P 500's 0.58% gain on the day. Elsewhere, the Dow saw an upswing of 0.31%, while the tech-heavy Nasdaq appreciated by 0.89%. Shares of the alternative energy company have appreciated by 21.67% over the course of the past month, outperforming the Computer and Technology sector's loss of 0.5%, and the S&P 500's gain of 0.16%.The investment community will be closely monitoring the performance of Plug Power in its forthcoming earnings report. In that report, analysts expect Plug Power to post earnings of -$0.13 per share. This would mark year-over-year growth of 48%. In the meantime, our current consensus estimate forecasts the revenue to be $183.01 million, indicating a 5.34% growth compared to the corresponding quarter of the prior year. For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.62 per share and a revenue of $707.53 million, signifying shifts of +76.87% and +12.52%, respectively, from the last year. Investors should also pay attention to any latest changes in analyst estimates for Plug Power. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 shifted 2.36% upward. Plug Power is currently a Zacks Rank #2 (Buy). The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 40, positioning it in the top 17% of all 250+ industries. The Zacks Industry Rank gauges the strength of our individual 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. Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>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