Plug Power Inc. (PLUG) saw its stock price plummet by 5.17% during intraday trading on Friday, reflecting a sharp decline in investor confidence.
The drop followed a downgrade by TD Cowen, which cut its rating on Plug Power from "Buy" to "Hold" and reduced the target price from $4 to $2. Analysts cited concerns over the company's performance, contributing to the negative sentiment. The average rating for Plug Power is now "Hold," with a mean price target of $2.60, according to FactSet data.
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