Adomani (ADOM) Reaches New 1-Year Low at $0.32
Adomani Inc (NASDAQ:ADOM) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $0.32 and last traded at $0.35, with a volume of 423157 shares changing hands. The stock had previously closed at $0.37.
Several brokerages have issued reports on ADOM. Zacks Investment Research raised shares of Adomani from a “hold” rating to a “buy” rating and set a $0.50 price target on the stock in a report on Wednesday, October 31st. Roth Capital began coverage on shares of Adomani in a report on Thursday, November 1st. They issued a “buy” rating and a $2.00 price target on the stock. Finally, HC Wainwright set a $3.00 price target on shares of Adomani and gave the company a “buy” rating in a report on Friday, October 26th.
The firm has a market cap of $26.91 million, a PE ratio of -1.12 and a beta of 0.55.
An institutional investor recently bought a new position in Adomani stock. First Republic Investment Management Inc. bought a new position in Adomani Inc (NASDAQ:ADOM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 934,000 shares of the company’s stock, valued at approximately $1,018,000. First Republic Investment Management Inc. owned about 1.29% of Adomani as of its most recent filing with the Securities and Exchange Commission. 3.31% of the stock is currently owned by hedge funds and other institutional investors.
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About Adomani (NASDAQ:ADOM)
ADOMANI, Inc provides zero-emission electric and hybrid drivetrain systems for integration in new and existing school buses and medium to heavy-duty commercial fleet vehicles. Its products include traction motor/generator and motor controller, as well as power-flow set up for direct-drive configuration, which is a single speed gearbox, or a multi-gear ration transmission system.
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