Why Plug Power (PLUG) Dipped More Than Broader Market Today

Plug Power (PLUG) ended the recent trading session at $2.71, demonstrating a -3.21% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.57%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq lost 1.15%. Shares of the alternative energy company witnessed a loss of 18.84% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 2.85%, and the S&P 500's gain of 2.14%.Investors will be eagerly watching for the performance of Plug Power in its upcoming earnings disclosure. The company is expected to report EPS of -$0.08, up 50% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $173.03 million, indicating a 0.54% decline compared to the corresponding quarter of the prior year. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.32 per share and revenue of $811.37 million. These totals would mark changes of +77.46% and +14.29%, respectively, from last year. Investors should also note any recent changes to analyst estimates for Plug Power. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Plug Power possesses a Zacks Rank of #2 (Buy). The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 61, positioning 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. Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks