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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 $27.89 in the latest trading session, marking a +1.53% move from the prior day. This move outpaced the S&P 500's daily loss of 0.08%.

Heading into today, shares of the alternative energy company had gained 3.66% over the past month, outpacing the Industrial Products sector's gain of 1.67% and the S&P 500's gain of 0.73% in that time.

PLUG will be looking to display strength as it nears its next earnings release. On that day, PLUG is projected to report earnings of -$0.08 per share, which would represent year-over-year growth of 33.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $68.13 million, up 66.95% from the year-ago period.

Investors might also notice recent changes to analyst estimates for PLUG. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.15% lower within the past month. PLUG is currently sporting a Zacks Rank of #3 (Hold).

The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 110, putting it in the top 44% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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