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

Plug Power (PLUG) closed the most recent trading day at $2.26, moving -3.83% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.26% for the day. Meanwhile, the Dow experienced a rise of 0.6%, and the technology-dominated Nasdaq saw an increase of 0.25%. Shares of the alternative energy company witnessed a gain of 8.8% over the previous month, beating the performance of the Computer and Technology sector with its gain of 1.58%, and the S&P 500's gain of 1.57%.Market participants will be closely following the financial results of Plug Power in its upcoming release. The company's upcoming EPS is projected at -$0.11, signifying a 93.33% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $219.96 million, up 14.88% from the year-ago period. For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.8 per share and a revenue of $701.76 million, signifying shifts of +70.15% and 0%, 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. As such, positive estimate revisions reflect analyst optimism about the business and profitability. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Plug Power is currently sporting a Zacks Rank of #3 (Hold). The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 81, placing it within the top 34% of over 250 industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 follow all of these stock-moving metrics, and many more, on Zacks.com. Zacks Names #1 Semiconductor StockThis under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.See This Stock Now for 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