Lightning eMotors (NYSE:ZEV – Get Rating)'s stock had its "buy" rating reiterated by analysts at Benchmark in a research report issued on Tuesday, Benzinga reports. They currently have a $2.00 target price on the stock.
Several other equities analysts also recently weighed in on ZEV. DA Davidson reduced their target price on Lightning eMotors to $4.00 in a research report on Tuesday, November 15th. Northland Securities cut their price objective on Lightning eMotors from $2.50 to $1.50 in a report on Tuesday. Finally, Oppenheimer downgraded Lightning eMotors from an "outperform" rating to a "market perform" rating in a report on Monday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Lightning eMotors presently has a consensus rating of "Moderate Buy" and an average price target of $5.00.
Get Lightning eMotors alerts:Lightning eMotors Stock Down 4.1 %
Shares of NYSE:ZEV opened at $0.31 on Tuesday. The company has a quick ratio of 4.86, a current ratio of 6.39 and a debt-to-equity ratio of 1.32. Lightning eMotors has a 52-week low of $0.29 and a 52-week high of $6.05. The stock's fifty day simple moving average is $0.67 and its 200-day simple moving average is $1.03. The company has a market capitalization of $27.58 million, a P/E ratio of 3.84 and a beta of 2.94.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of ZEV. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Lightning eMotors by 196.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 97,348 shares of the company's stock worth $36,000 after purchasing an additional 64,474 shares during the last quarter. Alpine Global Management LLC raised its stake in Lightning eMotors by 506.3% during the 4th quarter. Alpine Global Management LLC now owns 106,763 shares of the company's stock valued at $39,000 after acquiring an additional 89,155 shares in the last quarter. Balyasny Asset Management LLC bought a new stake in Lightning eMotors during the 3rd quarter valued at $50,000. American International Group Inc. bought a new stake in Lightning eMotors during the 2nd quarter valued at $51,000. Finally, Morgan Stanley raised its stake in Lightning eMotors by 78.5% during the 4th quarter. Morgan Stanley now owns 145,928 shares of the company's stock valued at $53,000 after acquiring an additional 64,187 shares in the last quarter. Institutional investors own 29.48% of the company's stock.
About Lightning eMotors
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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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