Brokerages Set Lightning eMotors, Inc. (NYSE:ZEV) Target Price at $15.25

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

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Holdings Inc. acquired a new stake in shares of Lightning eMotors in the second quarter valued at about $29,000. Wells Fargo & Company MN acquired a new stake in shares of Lightning eMotors in the second quarter valued at about $68,000. Penserra Capital Management LLC acquired a new stake in shares of Lightning eMotors in the second quarter valued at about $72,000. SkyView Investment Advisors LLC acquired a new stake in shares of Lightning eMotors in the third quarter valued at about $86,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Lightning eMotors in the third quarter valued at about $99,000. Institutional investors and hedge funds own 4.95% of the company’s stock.

Shares of ZEV stock traded up $0.25 during trading hours on Thursday, hitting $7.85. The company’s stock had a trading volume of 285,004 shares, compared to its average volume of 2,086,559. The company has a 50 day moving average of $8.59 and a 200 day moving average of $8.10. The company has a quick ratio of 19.33, a current ratio of 20.14 and a debt-to-equity ratio of 1.71. Lightning eMotors has a 12-month low of $5.84 and a 12-month high of $17.36.

About Lightning eMotors

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: How to find the components of the quick ratio

Analyst Recommendations for Lightning eMotors (NYSE:ZEV)

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