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

Plug Power (PLUG) ended the recent trading session at $2.08, demonstrating a -1.65% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.54%. Meanwhile, the Dow gained 1.05%, and the Nasdaq, a tech-heavy index, added 0.56%. Coming into today, shares of the alternative energy company had lost 5.16% in the past month. In that same time, the Computer and Technology sector gained 0.44%, while the S&P 500 gained 0.74%. Market participants will be closely following the financial results of Plug Power in its upcoming release. The company's upcoming EPS is projected at -$0.1, signifying a 93.94% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $220.68 million, indicating a 15.25% upward movement from the same quarter last year. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.82 per share and a revenue of $701.99 million, indicating changes of +69.4% and 0%, respectively, from the former year. It's also important for investors to be aware of any recent modifications to analyst estimates for Plug Power. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system. The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.56% lower. At present, Plug Power boasts 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 78, placing it within the top 32% of over 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. Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions. #1 Semiconductor Stock to Buy (Not NVDA)The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow.One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be.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