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

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In the latest trading session, Plug Power (PLUG - Free Report) closed at $16.57, marking a +1.35% move from the previous day. This move outpaced the S&P 500's daily loss of 0.88%. Elsewhere, the Dow lost 0.82%, while the tech-heavy Nasdaq added 0.08%.

Heading into today, shares of the alternative energy company had lost 8.76% over the past month, outpacing the Industrial Products sector's loss of 11.26% and lagging the S&P 500's loss of 8.06% in that time.

Investors will be hoping for strength from Plug Power as it approaches its next earnings release. On that day, Plug Power is projected to report earnings of -$0.19 per share, which would represent a year-over-year decline of 5.56%. Meanwhile, our latest consensus estimate is calling for revenue of $174.25 million, up 39.89% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.71 per share and revenue of $925.28 million. These totals would mark changes of +11.25% and +84.19%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for Plug Power. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 10.06% lower. Plug Power is holding a Zacks Rank of #4 (Sell) right now.

The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 184, which puts it in the bottom 28% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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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