Envirotech Vehicles (NASDAQ:EVTV) Trading Down 11.2% – Here’s Why

Envirotech Vehicles, Inc. (NASDAQ:EVTV)’s share price dropped 11.2% during mid-day trading on Monday . The company traded as low as $0.3552 and last traded at $0.3859. Approximately 793,266 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 2,188,372 shares. The stock had previously closed at $0.4348.

Analysts Set New Price Targets

EVTV has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Envirotech Vehicles in a research note on Wednesday, October 8th. Wall Street Zen upgraded Envirotech Vehicles to a “sell” rating in a report on Saturday, October 11th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Envirotech Vehicles has a consensus rating of “Sell”.

Envirotech Vehicles Trading Down 11.2%

The firm has a market capitalization of $1.36 million, a P/E ratio of -0.03 and a beta of 0.42. The company’s fifty day simple moving average is $1.12 and its 200 day simple moving average is $1.64.

About Envirotech Vehicles

Envirotech Vehicles, Inc manufactures and provides zero-emission electric vehicles in the United States. It offers Class 2 through logistics vans; class 4 through urban trucks, school buses, electric forklifts, street sweepers, neighborhood electric vehicles, and right-hand drive vans and urban trucks. The company also offers vehicle maintenance and safety inspection services. It serves commercial and last-mile fleets, school districts, public and private transportation service companies, and colleges and universities.