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Plug Power (PLUG) Stock Moves -0.98%: What You Should Know

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Plug Power (PLUG - Free Report) closed the most recent trading day at $29.30, moving -0.98% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.13%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq added 0.03%.

Prior to today's trading, shares of the alternative energy company had gained 3.93% over the past month. This has outpaced the Industrial Products sector's loss of 7.15% and the S&P 500's loss of 7.59% 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 -$0.22 per share, which would represent a year-over-year decline of 15.79%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $268.45 million, up 86.53% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.96 per share and revenue of $913.89 million, which would represent changes of -20% and +81.93%, respectively, from the prior 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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.

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. Over the past month, the Zacks Consensus EPS estimate has moved 0.29% lower. Plug Power is currently a Zacks Rank #3 (Hold).

The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 74, putting it in the top 30% 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.

To follow PLUG in the coming trading sessions, be sure to utilize Zacks.com.


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