Plug Power (PLUG) call put ratio 3.7 calls to 1 put into quarter results

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Go back to Plug Power (PLUG) call put ratio 3.7 calls to 1 put into quarter results

JPMorgan Downgrades Plug Power (PLUG) to Neutral, ' Margin Issues Persist, Balance Sheet, Policy Support and Execution in Focus'

November 10, 2023 6:40 AM EST

JPMorgan analyst Paul Coster downgraded Plug Power (NASDAQ: PLUG) from Overweight to Neutral with a price target of $6.00 (from $10.00).

The analyst comments "Plug Powers 3Q earnings illustrated numerous near-term challenges the company is facing. Once armed with a pristine balance sheet after raising meaningful capital, Plugs short-term cash has been whittled down as a result of operational and scaling up challenges and an unfavorable hydrogen supply environment. This has led to significant margin challenges and higher than expected cash burn to the point that Plug Power put out a going concern... More