Shares of Green Plains (GPRE) tumbled 6.62% in pre-market trading on Thursday, as investors reacted to a significant downgrade from a major financial institution. The sharp decline comes amid growing concerns about the company's performance and outlook.

The catalyst for the sell-off appears to be a research note from Bank of America, which lowered its rating on Green Plains from Neutral to Underperform. This downgrade signals a notably bearish stance on the stock, suggesting that BofA analysts expect the company to underperform the broader market in the coming period.

BofA analyst Salvator Tiano, who issued the downgrade, also set a price target of $7 for Green Plains stock. This new target implies considerable downside potential from the stock's previous closing price, further contributing to the negative sentiment surrounding the company. Investors will likely be closely watching for any additional details or explanations from the analyst regarding the factors behind this pessimistic outlook.