Why the Market Dipped But Plug Power (PLUG) Gained Today

The most recent trading session ended with Plug Power (PLUG) standing at $1.59, reflecting a +0.63% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.22%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 0.33%.The the stock of alternative energy company has fallen by 10.73% in the past month, lagging the Industrial Products sector's loss of 5.92% and the S&P 500's loss of 7.48%.The upcoming earnings release of Plug Power will be of great interest to investors. It is anticipated that the company will report an EPS of -$0.20, marking a 53.49% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $128.91 million, indicating a 7.19% growth compared to the corresponding quarter of the prior year.PLUG's full-year Zacks Consensus Estimates are calling for earnings of -$0.63 per share and revenue of $720.01 million. These results would represent year-over-year changes of +76.49% and +14.5%, respectively.Investors should also pay attention to any latest changes in analyst estimates for Plug Power. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.26% downward. Currently, Plug Power is carrying a Zacks Rank of #3 (Hold).The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 35, finds itself in the top 14% echelons of all 250+ industries.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks