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

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Plug Power (PLUG - Free Report) closed at $53.97 in the latest trading session, marking a +0.36% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.66%. Elsewhere, the Dow lost 0.29%, while the tech-heavy Nasdaq lost 1.25%.

Prior to today's trading, shares of the alternative energy company had gained 97.77% over the past month. This has outpaced the Industrial Products sector's gain of 6.41% and the S&P 500's gain of 3.42% in that time.

Wall Street will be looking for positivity from PLUG as it approaches its next earnings report date. On that day, PLUG is projected to report earnings of -$0.07 per share, which would represent a year-over-year decline of 16.67%. Our most recent consensus estimate is calling for quarterly revenue of $77.33 million, down 15.63% from the year-ago period.

It is also important to note the recent changes to analyst estimates for PLUG. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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. Within the past 30 days, our consensus EPS projection has moved 2.61% higher. PLUG is currently a Zacks Rank #3 (Hold).

The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 117, which puts it in the top 46% 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.


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