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

Plug Power (PLUG) closed the most recent trading day at $17.30, moving +1.17% from the previous trading session. This change outpaced the S&P 500's 0.66% loss on the day. Elsewhere, the Dow lost 0.58%, while the tech-heavy Nasdaq lost 0.8%.

Coming into today, shares of the alternative energy company had gained 36.47% in the past month. In that same time, the Industrial Products sector gained 7.45%, while the S&P 500 gained 5.22%.

Investors will be hoping for strength from PLUG as it approaches its next earnings release. In that report, analysts expect PLUG to post earnings of -$0.06 per share. This would mark year-over-year growth of 25%. Meanwhile, our latest consensus estimate is calling for revenue of $104.91 million, up 86.07% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.27 per share and revenue of $300.92 million, which would represent changes of +20.59% and +34.52%, respectively, from the prior year.

Any recent changes to analyst estimates for PLUG should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.59% higher. PLUG is currently a Zacks Rank #2 (Buy).

The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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