Neutron (NASDAQ:LIME) Shares Up 5.6% – Time to Buy?

Neutron Holdings, Inc. (NASDAQ:LIME) shares shot up 5.6% during trading on Friday. The company traded as high as $19.95 and last traded at $20.0440. Approximately 196,014 shares traded hands during trading, a decline of 52% from the average daily volume of 408,586 shares. The stock had previously closed at $18.99.

Wall Street Analyst Weigh In

Several brokerages have commented on LIME. Weiss Ratings downgraded Neutron from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, November 4th. William Blair initiated coverage on Neutron in a research note on Monday, July 27th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. decreased their target price on Neutron from $38.00 to $33.00 and set an “overweight” rating for the company in a research report on Wednesday, November 4th. Jefferies Financial Group set a $45.00 target price on shares of Neutron in a research note on Monday, July 27th. Finally, Citizens Jmp cut their price target on shares of Neutron from $33.00 to $27.00 and set a “market outperform” rating on the stock in a report on Wednesday, November 4th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Neutron Trading Up 6.3%

The company has a market cap of $1.31 billion and a P/E ratio of 32.56. The business’s 50 day moving average price is $26.67.

Neutron (NASDAQ:LIME) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.43 by $0.20. The firm had revenue of $360.63 million for the quarter, compared to analysts’ expectations of $349.30 million. During the same period in the previous year, the company posted $1.01 earnings per share. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. Sell-side analysts anticipate that Neutron Holdings, Inc. will post 3.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Mawer Investment Management Ltd. acquired a new position in shares of Neutron during the 3rd quarter worth approximately $40,741,000. Royce & Associates LP purchased a new position in shares of Neutron during the 3rd quarter valued at approximately $5,043,000. State Street Corp purchased a new position in shares of Neutron during the 3rd quarter valued at approximately $3,347,000. Resona Holdings Inc. acquired a new stake in Neutron in the 3rd quarter valued at $713,000. Finally, Marshall Wace LLP acquired a new stake in Neutron in the 3rd quarter valued at $626,000.

Neutron Company Profile

Neutron Holdings, Inc., which operates under the Lime name, provides shared electric micromobility services. Through its mobile app, riders can locate and rent electric scooters and bikes for short trips. Founded in 2017, Lime has expanded from its early bike-sharing operations to offer electric vehicles in cities across multiple countries. Its services are intended for urban transportation and are often used for first- and last-mile connections. Wayne Ting has served as Lime’s chief executive officer.