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

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In the latest market close, Plug Power (PLUG - Free Report) reached $2.85, with a -1.38% movement compared to the previous day. This move lagged the S&P 500's daily loss of 1.2%. At the same time, the Dow lost 0.65%, and the tech-heavy Nasdaq lost 1.79%.

The alternative energy company's stock has dropped by 13.21% in the past month, falling short of the Industrial Products sector's gain of 1.85% and the S&P 500's loss of 0.85%.

Analysts and investors alike will be keeping a close eye on the performance of Plug Power in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.32, indicating an 8.57% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $173.97 million, showing a 17.27% drop compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates project earnings of -$0.95 per share and a revenue of $1.02 billion, demonstrating changes of +58.7% and +14.02%, respectively, from the preceding year.

Investors should also pay attention to any latest changes in analyst estimates for Plug Power. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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 past month, the Zacks Consensus EPS estimate has moved 0.57% lower. Plug Power currently has a Zacks Rank of #3 (Hold).

The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 188, which puts it in the bottom 26% of all 250+ industries.

The Zacks Industry Rank is ordered 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.

Don't forget to use to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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