Lightning eMotors, Inc. (NYSE:ZEV) Receives Consensus Recommendation of “Hold” from Brokerages

Lightning eMotors, Inc. (NYSE:ZEV) has received a consensus rating of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $15.25.

ZEV has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Lightning eMotors from a “hold” rating to a “sell” rating in a report on Friday, August 20th. Bank of America initiated coverage on Lightning eMotors in a report on Friday, August 6th. They issued an “underperform” rating on the stock. Benchmark dropped their target price on shares of Lightning eMotors from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 19th. Finally, DA Davidson initiated coverage on shares of Lightning eMotors in a report on Tuesday, August 10th. They set a “buy” rating and a $17.00 price objective on the stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ZEV. Vanguard Group Inc. acquired a new position in shares of Lightning eMotors in the second quarter valued at approximately $12,966,000. Bank of The West bought a new position in shares of Lightning eMotors in the 2nd quarter worth $5,026,000. BlackRock Inc. lifted its holdings in shares of Lightning eMotors by 691.2% in the 3rd quarter. BlackRock Inc. now owns 527,630 shares of the company’s stock worth $4,511,000 after purchasing an additional 460,941 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Lightning eMotors by 12.1% in the 3rd quarter. Geode Capital Management LLC now owns 239,611 shares of the company’s stock worth $2,048,000 after purchasing an additional 25,787 shares in the last quarter. Finally, Cubic Asset Management LLC bought a new position in shares of Lightning eMotors in the 3rd quarter worth $1,995,000. 4.95% of the stock is owned by hedge funds and other institutional investors.

NYSE ZEV traded up $0.25 on Thursday, reaching $7.85. The company’s stock had a trading volume of 285,004 shares, compared to its average volume of 2,086,559. Lightning eMotors has a twelve month low of $5.84 and a twelve month high of $17.36. The company has a debt-to-equity ratio of 1.71, a current ratio of 20.14 and a quick ratio of 19.33. The firm’s 50 day moving average is $8.59 and its two-hundred day moving average is $8.10.

Lightning eMotors Company Profile

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.

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Analyst Recommendations for Lightning eMotors (NYSE:ZEV)

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