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

Plug Power (PLUG) closed the most recent trading day at $1.65, moving +1.85% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.27% for the day. At the same time, the Dow lost 0.51%, and the tech-heavy Nasdaq gained 0.03%.The alternative energy company's stock has dropped by 39.1% in the past month, falling short of the Industrial Products sector's gain of 3.78% and the S&P 500's gain of 4.27%.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 -$0.23, showcasing a 78.5% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $260.18 million, indicating a 17.11% upward movement from the same quarter last year.It is also important to note the recent changes to analyst estimates for Plug Power. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Plug Power boasts a Zacks Rank of #3 (Hold).The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries.The Zacks Industry Rank gauges the strength of our 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.You can find more information on all of these metrics, and much more, on Zacks.com.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Plug Power, Inc. (PLUG): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks