Neutron (NASDAQ:LIME) Stock Jumps 5.6% – Should You Buy?

Neutron Holdings, Inc. (NASDAQ:LIME)’s stock price was up 5.6% during trading on Friday. The stock traded as high as $19.95 and last traded at $20.0440. Approximately 196,014 shares were traded during trading, a decline of 52% from the average daily volume of 408,586 shares. The stock had previously closed at $18.99.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LIME. UBS Group reissued a “buy” rating on shares of Neutron in a research note on Wednesday, November 4th. JPMorgan Chase & Co. reduced their price objective on shares of Neutron from $38.00 to $33.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 4th. Jefferies Financial Group set a $45.00 target price on shares of Neutron in a research report on Monday, July 27th. Needham & Company LLC reduced their price target on Neutron from $36.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, November 4th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $37.00 price objective on shares of Neutron in a research note on Wednesday, November 4th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Neutron Price Performance

The stock has a fifty day simple moving average of $27.04. The stock has a market cap of $1.31 billion and a P/E ratio of 32.69.

Neutron (NASDAQ:LIME) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.20. The firm had revenue of $360.63 million for the quarter, compared to the consensus estimate of $349.30 million. During the same period in the prior year, the business earned $1.01 earnings per share. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. Equities research analysts forecast that Neutron Holdings, Inc. will post 3.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LIME. State Street Corp bought a new stake in shares of Neutron in the third quarter worth about $3,347,000. Resona Holdings Inc. acquired a new stake in shares of Neutron during the third quarter worth about $713,000. Royce & Associates LP acquired a new stake in shares of Neutron during the third quarter worth about $5,043,000. Finally, Mawer Investment Management Ltd. bought a new position in shares of Neutron during the 3rd quarter valued at about $40,741,000.

About Neutron

Neutron Holdings, Inc., which operates under the Lime name, provides shared electric micromobility services. Through its mobile app, riders can locate and rent electric scooters and bikes for short trips. Founded in 2017, Lime has expanded from its early bike-sharing operations to offer electric vehicles in cities across multiple countries. Its services are intended for urban transportation and are often used for first- and last-mile connections. Wayne Ting has served as Lime’s chief executive officer.