Lightning eMotors (NYSE:ZEV) Downgraded by Oppenheimer

Lightning eMotors (NYSE:ZEV – Get Rating) was downgraded by analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, The Fly reports.

Several other equities research analysts also recently weighed in on ZEV. Northland Securities reduced their price objective on shares of Lightning eMotors from $6.50 to $2.50 and set an “outperform” rating for the company in a report on Monday, December 5th. DA Davidson cut their price target on shares of Lightning eMotors to $4.00 in a report on Tuesday, November 15th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.10.

Lightning eMotors Stock Performance

ZEV stock opened at $0.34 on Monday. The company has a market capitalization of $30.73 million, a P/E ratio of 0.73 and a beta of 2.94. The company has a 50-day simple moving average of $0.67 and a 200 day simple moving average of $1.05. Lightning eMotors has a fifty-two week low of $0.29 and a fifty-two week high of $6.05. The company has a quick ratio of 4.86, a current ratio of 6.39 and a debt-to-equity ratio of 1.32.

Institutional Trading of Lightning eMotors

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC raised its holdings in Lightning eMotors by 884.3% during the 4th quarter. Millennium Management LLC now owns 345,737 shares of the company’s stock worth $127,000 after buying an additional 310,611 shares during the period. Morgan Stanley raised its holdings in 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 buying an additional 64,187 shares during the period. Alpine Global Management LLC raised its holdings in Lightning eMotors by 506.3% during the 4th quarter. Alpine Global Management LLC now owns 106,763 shares of the company’s stock worth $39,000 after buying an additional 89,155 shares during the period. Two Sigma Investments LP acquired a new stake in Lightning eMotors during the 4th quarter worth about $71,000. Finally, ExodusPoint Capital Management LP raised its holdings in 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 buying an additional 70,024 shares during the period. Institutional investors and hedge funds 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.