Plug Power is trading 7.05% down at $1.45 amid persistent concerns about cash burn, liquidity and potential dilution.
- Morgan Stanley cut its price target to $1.20 from $1.65 and maintained an Underweight rating, citing weaker longer-term hydrogen-adoption expectations.
- The target cut was reported October 14, though the article says the action occurred Monday.
- No confirmed October 14 company announcement has been identified as a direct catalyst. Major indices are mostly lower, while the energy sector is up; neither clearly explains the sharp decline.