Northland Securities Lowers Lightning eMotors (NYSE:ZEV) Price Target to $1.50

Lightning eMotors (NYSE:ZEV – Get Rating) had its price objective trimmed by Northland Securities from $2.50 to $1.50 in a research note released on Tuesday, The Fly reports.

Other equities research analysts also recently issued research reports about the company. DA Davidson dropped their price objective on Lightning eMotors to $4.00 in a research report on Tuesday, November 15th. Oppenheimer cut Lightning eMotors from an outperform rating to a market perform rating in a research report on Monday.

Lightning eMotors Stock Performance

ZEV stock opened at $0.32 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. The business’s fifty day simple moving average is $0.67 and its two-hundred day simple moving average is $1.04. Lightning eMotors has a twelve month low of $0.29 and a twelve month high of $6.05. The firm has a market cap of $28.75 million, a price-to-earnings ratio of 4.00 and a beta of 2.94.

Hedge Funds Weigh In On Lightning eMotors

Several hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in Lightning eMotors in the first quarter valued at about $88,000. American International Group Inc. bought a new stake in Lightning eMotors in the second quarter valued at about $51,000. JPMorgan Chase & Co. bought a new stake in Lightning eMotors in the second quarter valued at about $58,000. SG Americas Securities LLC acquired a new position in Lightning eMotors in the second quarter valued at approximately $81,000. Finally, Balyasny Asset Management LLC acquired a new position in Lightning eMotors in the third quarter valued at approximately $50,000. Hedge funds and other institutional investors own 29.48% of the company’s stock.

About Lightning eMotors

(Get Rating)

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.