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Plug Power (PLUG) Gains But Lags Market: What You Should Know

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Plug Power (PLUG - Free Report) closed at $23.56 in the latest trading session, marking a +1.42% move from the prior day. This change lagged the S&P 500's 1.56% gain on the day. Elsewhere, the Dow gained 1.29%, while the tech-heavy Nasdaq added 0.01%.

Heading into today, shares of the alternative energy company had gained 31.99% over the past month, outpacing the Industrial Products sector's gain of 10.22% and the S&P 500's gain of 7.11% in that time.

Investors will be hoping for strength from Plug Power as it approaches its next earnings release, which is expected to be August 9, 2022. On that day, Plug Power is projected to report earnings of -$0.20 per share, which would represent a year-over-year decline of 11.11%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $167.37 million, up 34.37% from the year-ago period.

PLUG's full-year Zacks Consensus Estimates are calling for earnings of -$0.76 per share and revenue of $919.39 million. These results would represent year-over-year changes of +5% and +83.02%, respectively.

Any recent changes to analyst estimates for Plug Power should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 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. The Zacks Consensus EPS estimate has moved 5.24% lower within the past month. Plug Power is currently a Zacks Rank #4 (Sell).

The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% 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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