Lightning eMotors (NYSE:ZEV – Get Rating) had its price objective lowered by Northland Securities from $2.50 to $1.50 in a research report sent to investors on Tuesday morning, The Fly reports.
Other equities research analysts have also recently issued reports about the company. DA Davidson decreased their price target on Lightning eMotors to $4.00 in a research note on Tuesday, November 15th. Oppenheimer cut Lightning eMotors from an outperform rating to a market perform rating in a research note on Monday.
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ZEV opened at $0.32 on Tuesday. Lightning eMotors has a 12-month low of $0.29 and a 12-month high of $6.05. The company has a current ratio of 6.39, a quick ratio of 4.86 and a debt-to-equity ratio of 1.32. The business's fifty day simple moving average is $0.67 and its 200-day simple moving average is $1.04. The company has a market capitalization of $28.75 million, a price-to-earnings ratio of 4.00 and a beta of 2.94.
Institutional Investors Weigh In On Lightning eMotors
Several institutional investors and hedge funds have recently modified their holdings of ZEV. Two Sigma Investments LP acquired a new position in shares of Lightning eMotors during the 4th quarter worth about $71,000. ExodusPoint Capital Management LP boosted its position in shares of Lightning eMotors by 80.3% during the 4th quarter. ExodusPoint Capital Management LP now owns 157,253 shares of the company's stock worth $58,000 after acquiring an additional 70,024 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Lightning eMotors during the 2nd quarter worth about $58,000. Morgan Stanley boosted its position in shares of Lightning eMotors by 78.5% during the 4th quarter. Morgan Stanley now owns 145,928 shares of the company's stock worth $53,000 after acquiring an additional 64,187 shares in the last quarter. Finally, American International Group Inc. acquired a new position in shares of Lightning eMotors during the 2nd quarter worth about $51,000. Hedge funds and other institutional investors own 29.48% of the company's stock.
Lightning eMotors Company Profile
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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.
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