Benchmark reiterated their buy rating on shares of Lightning eMotors (NYSE:ZEV – Get Rating) in a report published on Tuesday, Benzinga reports. They currently have a $2.00 price target on the stock.
Other equities analysts have also recently issued reports about the stock. DA Davidson dropped their price objective on shares of Lightning eMotors to $4.00 in a research note on Tuesday, November 15th. Oppenheimer cut shares of Lightning eMotors from an outperform rating to a market perform rating in a research note on Monday, March 13th. Finally, Northland Securities dropped their price target on shares of Lightning eMotors from $2.50 to $1.50 in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $5.00.
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Shares of NYSE ZEV opened at $0.32 on Tuesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.86 and a current ratio of 7.68. The company has a market cap of $30.16 million, a P/E ratio of 4.00 and a beta of 2.94. The firm's fifty day moving average is $0.66 and its two-hundred day moving average is $1.01. Lightning eMotors has a 52-week low of $0.29 and a 52-week high of $6.05.
Institutional Investors Weigh In On Lightning eMotors
Large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 valued at $36,000 after buying an additional 64,474 shares during the period. Alpine Global Management LLC raised its holdings in shares of Lightning eMotors by 506.3% in the 4th quarter. Alpine Global Management LLC now owns 106,763 shares of the company's stock valued at $39,000 after purchasing an additional 89,155 shares in the last quarter. Balyasny Asset Management LLC bought a new stake in shares of Lightning eMotors in the 3rd quarter valued at about $50,000. American International Group Inc. bought a new stake in shares of Lightning eMotors in the 2nd quarter valued at about $51,000. Finally, Morgan Stanley raised its holdings in shares of Lightning eMotors by 78.5% in the 4th quarter. Morgan Stanley now owns 145,928 shares of the company's stock valued at $53,000 after purchasing an additional 64,187 shares in the last quarter. 29.48% of the stock is owned by hedge funds and other institutional investors.
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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