Oppenheimer Lowers Lightning eMotors (NYSE:ZEV) to Market Perform

Oppenheimer cut shares of Lightning eMotors (NYSE:ZEV – Get Rating) from an outperform rating to a market perform rating in a report released on Monday morning, The Fly reports.

ZEV has been the subject of a number of other reports. Northland Securities cut their price target 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 objective on Lightning eMotors to $4.00 in a report on Tuesday, November 15th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Lightning eMotors has an average rating of Moderate Buy and a consensus price target of $7.10.

Lightning eMotors Stock Performance

ZEV stock opened at $0.34 on Monday. 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. 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.

Institutional Investors Weigh In On Lightning eMotors

Several large investors have recently made changes to their positions in ZEV. Vanguard Group Inc. grew its stake in shares of Lightning eMotors by 29.4% in the 1st quarter. Vanguard Group Inc. now owns 2,219,464 shares of the company’s stock valued at $12,651,000 after buying an additional 504,245 shares in the last quarter. Virtu Financial LLC bought a new stake in Lightning eMotors during the first quarter worth approximately $88,000. Toroso Investments LLC boosted its position in Lightning eMotors by 58.1% during the first quarter. Toroso Investments LLC now owns 249,800 shares of the company’s stock worth $1,424,000 after purchasing an additional 91,803 shares during the period. Bank of America Corp DE boosted its position in Lightning eMotors by 1,820.8% during the first quarter. Bank of America Corp DE now owns 162,537 shares of the company’s stock worth $927,000 after purchasing an additional 154,075 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Lightning eMotors during the second quarter worth approximately $81,000. 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.