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

The latest trading session saw Plug Power (PLUG) ending at $2.08, denoting a -0.48% adjustment from its last day's close. This change lagged the S&P 500's daily loss of 0.29%. At the same time, the Dow lost 0.32%, and the tech-heavy Nasdaq lost 0.5%.The the stock of alternative energy company has fallen by 12.19% in the past month, lagging the Industrial Products sector's gain of 5.98% and the S&P 500's gain of 2.52%.Investors will be eagerly watching for the performance of Plug Power in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.23, reflecting a 78.5% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $267.92 million, up 20.6% from the year-ago period.Any recent changes to analyst estimates for Plug Power should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 1.55% higher. Plug Power is holding a Zacks Rank of #3 (Hold) right now.The Manufacturing - Electronics industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 141, this industry ranks in the bottom 44% of all industries, numbering over 250.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.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.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