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

Plug Power (PLUG) closed at $24.66 in the latest trading session, marking a +1.86% move from the prior day. This move outpaced the S&P 500's daily loss of 0.58%.

Prior to today's trading, shares of the alternative energy company had lost 3.55% over the past month. This has lagged the Industrial Products sector's loss of 2.13% and the S&P 500's gain of 0.16% in that time.

PLUG will be looking to display strength as it nears its next earnings release. In that report, analysts expect PLUG to post earnings of -$0.08 per share. This would mark year-over-year growth of 27.27%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $148.31 million, up 38.62% from the year-ago period.

Any recent changes to analyst estimates for PLUG 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.

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 has moved 3.19% lower. PLUG is currently a Zacks Rank #4 (Sell).

The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 116, putting it in the top 46% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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