Lightning eMotors (NYSE:ZEV) Stock Rating Upgraded by Zacks Investment Research

Lightning eMotors (NYSE:ZEVGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Lightning eMotors is a provider of commercial electric vehicles for fleets. It designs, engineers, customizes and manufactures zero-emission vehicles. Lightning eMotors, formerly known as GigCapital3 Inc., is based in United States. “

ZEV has been the topic of several other reports. Colliers Securities reaffirmed a “buy” rating on shares of Lightning eMotors in a report on Wednesday, January 5th. Benchmark cut their price objective on Lightning eMotors from $14.00 to $9.00 and set a “buy” rating on the stock in a research report on Monday, March 14th. Finally, DA Davidson dropped their price target on Lightning eMotors from $17.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, March 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Lightning eMotors has an average rating of “Buy” and an average price target of $12.75.

Lightning eMotors stock opened at $4.60 on Tuesday. The business has a 50-day simple moving average of $5.24 and a two-hundred day simple moving average of $6.45. Lightning eMotors has a 52-week low of $3.98 and a 52-week high of $12.13. The company has a debt-to-equity ratio of 2.53, a quick ratio of 12.82 and a current ratio of 13.83.

Lightning eMotors (NYSE:ZEVGet Rating) last announced its quarterly earnings data on Monday, March 28th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.50. The company had revenue of $4.22 million for the quarter, compared to the consensus estimate of $4.20 million. On average, equities research analysts expect that Lightning eMotors will post -0.93 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of ZEV. Wells Fargo & Company MN purchased a new position in Lightning eMotors during the second quarter worth approximately $68,000. Bank of America Corp DE grew its stake in shares of Lightning eMotors by 1,623.4% in the fourth quarter. Bank of America Corp DE now owns 8,462 shares of the company’s stock valued at $51,000 after buying an additional 7,971 shares in the last quarter. SkyView Investment Advisors LLC acquired a new stake in shares of Lightning eMotors in the third quarter valued at $86,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Lightning eMotors in the third quarter valued at $99,000. Finally, Capstone Investment Advisors LLC acquired a new position in Lightning eMotors during the 3rd quarter worth $108,000. 8.08% of the stock is currently owned by institutional investors.

About Lightning eMotors (Get Rating)

Lightning eMotors, Inc designs, manufactures, and sells electric vehicles. It offers class 3 to 7 battery electric and fuel cell electric vehicles. The company's vehicles include passenger vans, ambulances, shuttle buses, last-mile delivery vans, box trucks, and motor coaches for parcel and delivery, micro transit, airport parking operations, and electric utilities sectors.

Further Reading

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Analyst Recommendations for Lightning eMotors (NYSE:ZEV)

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