Lightning eMotors (NYSE:ZEV) PT Lowered to $1.50 at DA Davidson

Lightning eMotors (NYSE:ZEV – Get Rating) had its target price cut by DA Davidson from $4.00 to $1.50 in a research report sent to investors on Wednesday, The Fly reports.

Several other equities analysts have also commented on ZEV. Northland Securities lowered their price target on shares of Lightning eMotors from $2.50 to $1.50 in a research report on Tuesday, March 14th. Benchmark restated a buy rating and set a $2.00 price target on shares of Lightning eMotors in a research report on Tuesday, March 14th. Finally, Oppenheimer lowered shares of Lightning eMotors from an outperform rating to a market perform rating in a research report on Monday, March 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Lightning eMotors presently has a consensus rating of Moderate Buy and an average price target of $5.00.

Lightning eMotors Stock Up 4.2 %

ZEV stock opened at $0.32 on Wednesday. The firm has a fifty day moving average price of $0.66 and a two-hundred day moving average price of $1.00. The firm has a market cap of $30.16 million, a price-to-earnings ratio of 4.00 and a beta of 2.94. The company has a debt-to-equity ratio of 1.14, a current ratio of 7.68 and a quick ratio of 4.86. Lightning eMotors has a 1-year low of $0.29 and a 1-year high of $6.05.

Hedge Funds Weigh In On Lightning eMotors

A number of institutional investors and hedge funds have recently bought and sold shares of ZEV. Mirae Asset Global Investments Co. Ltd. grew 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 in the last quarter. Alpine Global Management LLC grew its position in 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 buying an additional 89,155 shares in the last quarter. Balyasny Asset Management LLC bought a new position in Lightning eMotors in the 3rd quarter valued at about $50,000. American International Group Inc. bought a new position in Lightning eMotors in the 2nd quarter valued at about $51,000. Finally, Morgan Stanley grew its position in 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 buying an additional 64,187 shares in the last quarter. Institutional investors own 29.48% of the company’s stock.

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.