Lightning eMotors, Inc. (NYSE:ZEV – Get Free Report)’s stock price was down 5.2% during mid-day trading on Thursday . The company traded as low as $1.82 and last traded at $1.83. Approximately 104,984 shares changed hands during trading, a decline of 2% from the average daily volume of 107,342 shares. The stock had previously closed at $1.93.
Analyst Ratings Changes
Separately, DA Davidson lifted their target price on shares of Lightning eMotors from $1.50 to $5.00 in a research note on Thursday, May 18th.
Lightning eMotors Stock Performance
Lightning eMotors (NYSE:ZEV – Get Free Report) last released its earnings results on Monday, August 14th. The company reported ($3.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.70) by ($1.00). Lightning eMotors had a negative return on equity of 221.78% and a negative net margin of 221.51%. The firm had revenue of $7.92 million for the quarter, compared to analyst estimates of $6.96 million. Analysts forecast that Lightning eMotors, Inc. will post -17.08 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake 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. Balyasny Asset Management LLC bought a new stake in Lightning eMotors in the third quarter valued at about $50,000. Finally, Goldman Sachs Group Inc. increased its stake in Lightning eMotors by 20.6% in the second quarter. Goldman Sachs Group Inc. now owns 32,193 shares of the company’s stock valued at $89,000 after acquiring an additional 5,489 shares during the period. Institutional investors own 25.19% of the company’s stock.
About Lightning eMotors
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 commercial electric and fuel cell vehicles.
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