Shares of Green Plains (GPRE) plummeted 5.05% in Thursday's pre-market trading session following a downgrade from Roth Capital. The significant drop comes as investors react to the change in analyst sentiment towards the company.
Roth Capital analyst Craig Irwin downgraded Green Plains from Buy to Neutral, maintaining a price target of $10. The downgrade came after the company's Q3 report, suggesting that the results may not have met expectations. This change in rating has likely contributed to the sharp decline in the stock price as investors reassess their positions.
Despite the downgrade, it's worth noting that the overall analyst sentiment remains cautiously optimistic. According to FactSet, Green Plains still maintains an average rating of overweight with a mean price target of $11.44. However, the market's immediate reaction to the Roth Capital downgrade underscores the impact of changing analyst perspectives on investor sentiment and stock performance.
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