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

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Plug Power (PLUG - Free Report) closed at $3.15 in the latest trading session, marking a -0.16% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.11%. On the other hand, the Dow registered a gain of 0.8%, and the technology-centric Nasdaq increased by 1.24%.

The alternative energy company's shares have seen a decrease of 19.23% over the last month, not keeping up with the Industrial Products sector's gain of 4.27% and the S&P 500's gain of 0.48%.

Investors will be eagerly watching for the performance of Plug Power in its upcoming earnings disclosure. In that report, analysts expect Plug Power to post earnings of -$0.32 per share. This would mark year-over-year growth of 8.57%. In the meantime, our current consensus estimate forecasts the revenue to be $173.97 million, indicating a 17.27% decline compared to the corresponding quarter of the prior year.

PLUG's full-year Zacks Consensus Estimates are calling for earnings of -$0.94 per share and revenue of $1.02 billion. These results would represent year-over-year changes of +59.13% and +14.74%, respectively.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Plug Power. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.17% higher. Currently, Plug Power is carrying a Zacks Rank of #3 (Hold).

The Manufacturing - Electronics industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 67, positioning it in the top 27% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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