Plug Power (PLUG) Stock Slides as Market Rises: Facts to Know Before You Trade

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The most recent trading session ended with Plug Power (PLUG) standing at $2.04, reflecting a -0.97% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.71%. At the same time, the Dow added 1.03%, and the tech-heavy Nasdaq gained 0.6%.

The the stock of alternative energy company has risen by 9.57% in the past month, leading the Industrial Products sector's gain of 8.36% and the S&P 500's gain of 6.41%.

The investment community will be paying close attention to the earnings performance of Plug Power in its upcoming release. The company is forecasted to report an EPS of -$0.24, showcasing a 48.94% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $212.16 million, reflecting a 6.77% rise from the equivalent quarter last year.

PLUG's full-year Zacks Consensus Estimates are calling for earnings of -$1.15 per share and revenue of $827.96 million. These results would represent year-over-year changes of +50% and -7.11%, respectively.

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 a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.08% lower. Plug Power presently features a Zacks Rank of #4 (Sell).

The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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 Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.