Lightning eMotors (NYSE:ZEV) PT Lowered to $1.50 at DA Davidson

Lightning eMotors (NYSE:ZEV – Get Rating) had its target price cut by DA Davidson from $4.00 to $1.50 in a research report sent to investors on Wednesday, The Fly reports.

A number of other equities research analysts also recently issued reports on ZEV. Benchmark restated a buy rating and issued a $2.00 target price on shares of Lightning eMotors in a report on Tuesday, March 14th. Oppenheimer downgraded shares of Lightning eMotors from an outperform rating to a market perform rating in a research note on Monday, March 13th. Finally, Northland Securities decreased their price objective on shares of Lightning eMotors from $2.50 to $1.50 in a research note on Tuesday, March 14th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $5.00.

Lightning eMotors Price Performance

Lightning eMotors stock opened at $0.32 on Wednesday. Lightning eMotors has a 1 year low of $0.29 and a 1 year high of $6.05. The firm has a 50 day moving average price of $0.66 and a 200 day moving average price of $1.00. The company has a market cap of $30.16 million, a price-to-earnings ratio of 4.00 and a beta of 2.94. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.86 and a current ratio of 7.68.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in shares of Lightning eMotors during the first quarter worth $88,000. American International Group Inc. acquired a new position in shares of Lightning eMotors during the second quarter worth $51,000. JPMorgan Chase & Co. acquired a new position in shares of Lightning eMotors during the second quarter worth $58,000. SG Americas Securities LLC acquired a new position in shares of Lightning eMotors during the second quarter worth $81,000. Finally, Balyasny Asset Management LLC acquired a new position in shares of Lightning eMotors during the third quarter worth $50,000. 29.48% of the stock is owned by institutional investors and hedge funds.

Lightning eMotors Company Profile

(Get Rating)

Lightning eMotors, Inc designs, manufactures, and sells zero-emission commercial fleet vehicles and powertrains to commercial fleets, large enterprises, original equipment manufacturers, and governments in the United States. It offers zero-emission class 3 to 7 battery electric and fuel cell electric vehicles.