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

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In the latest trading session, Plug Power (PLUG - Free Report) closed at $17.58, marking a -0.11% move from the previous day. This move lagged the S&P 500's daily gain of 0.36%. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.1%.

Heading into today, shares of the alternative energy company had lost 6.63% over the past month, outpacing the Industrial Products sector's loss of 12.6% and lagging the S&P 500's loss of 6.59% in that time.

Plug Power will be looking to display strength as it nears 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 $168.89 million, up 35.59% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.73 per share and revenue of $920.13 million. These totals would mark changes of +8.75% and +83.17%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for Plug Power. Recent revisions tend to reflect the latest 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.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 12.19% lower. Plug Power currently has a Zacks Rank of #4 (Sell).

The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 32% 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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