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Plug Power (PLUG) Dips More Than Broader Markets: What You Should Know

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Plug Power (PLUG - Free Report) closed the most recent trading day at $25.52, moving -1.85% from the previous trading session. This change lagged the S&P 500's 1.71% loss on the day. At the same time, the Dow lost 1.7%, and the tech-heavy Nasdaq lost 0.18%.

Prior to today's trading, shares of the alternative energy company had lost 0.46% over the past month. This has was narrower than the Industrial Products sector's loss of 8.72% and the S&P 500's loss of 8.68% in that time.

Wall Street will be looking for positivity from Plug Power as it approaches its next earnings report date. 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, our latest consensus estimate is calling for revenue of $268.45 million, up 86.53% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.96 per share and revenue of $913.89 million. These totals would mark changes of -20% and +81.93%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for Plug Power. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.

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 remained stagnant. Plug Power 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 166, putting it in the bottom 35% 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.

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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