Plug Power (PLUG) Stock Slides as Market Rises: Facts to Know Before You Trade

In the latest trading session, Plug Power (PLUG) closed at $2.22, marking a -3.9% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.16%. Elsewhere, the Dow gained 1.21%, while the tech-heavy Nasdaq added 1.18%. The alternative energy company's stock has climbed by 12.68% in the past month, exceeding the Computer and Technology sector's loss of 1.07% and the S&P 500's loss of 0.42%.The upcoming earnings release of Plug Power will be of great interest to investors. On that day, Plug Power is projected to report earnings of -$0.11 per share, which would represent year-over-year growth of 93.33%. In the meantime, our current consensus estimate forecasts the revenue to be $219.96 million, indicating a 14.88% growth compared to the corresponding quarter of the prior year. For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.8 per share and revenue of $701.76 million, which would represent changes of +70.15% and 0%, respectively, from the prior year. Investors should also note any recent changes 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Plug Power currently has a Zacks Rank of #2 (Buy). The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 66, finds itself in the top 27% echelons 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. You can find more information on all of these metrics, and much 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