Cantor Fitzgerald slashes price target on Lightning eMotors Inc. [ZEV] – find out why.

Lightning eMotors Inc. [NYSE: ZEV] traded at a high on 12/29/22, posting a 6.28 gain after which it closed the day’ session at $0.33. The company report on December 16, 2022 that Lightning eMotors Receives Continued Listing Standards Notice from the NYSE.

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Lightning eMotors, Inc. (NYSE: ZEV), a leading provider of zero emission medium-duty commercial vehicles and electric vehicle technology for fleets, announced today that on December 14, 2022, it received written notice from the New York Stock Exchange (the “NYSE”) that it is not in compliance with the NYSE’s continued listing standard that requires a minimum average closing share price of $1.00 over 30 consecutive trading days (the “Notice”).

The Company has notified the NYSE of its intent to cure the deficiency. The Company has six months following receipt of the Notice to cure the deficiency and regain compliance. The Company informed the NYSE that it intends to regain compliance, and is considering all available options that are in the best interests of the Company and its shareholders, including a reverse stock split of its common stock. The Company can regain compliance with the NYSE continued listing requirements at any time during a six-month cure period if, on the last trading day of any calendar month during the cure period, the common stock has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month.

The results of the trading session contributed to over 5677614 shares changing hands. Over the past one week, the price volatility of Lightning eMotors Inc. stands at 17.31% while the volatility over the past one month is 13.88%.

The market cap for ZEV stock reached $26.97 million, with 75.75 million shares outstanding and 42.29 million shares in the current float. Compared to the average trading volume of 1.19M shares, ZEV reached a trading volume of 5677614 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Lightning eMotors Inc. [ZEV]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ZEV shares is $4.18 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ZEV stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cantor Fitzgerald have made an estimate for Lightning eMotors Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 23, 2022. While these analysts kept the previous recommendation, Northland Capital raised their target price to Outperform. The new note on the price target was released on May 26, 2022, representing the official price target for Lightning eMotors Inc. stock. Previously, the target price had yet another raise to $17, while DA Davidson analysts kept a Buy rating on ZEV stock.

The Average True Range (ATR) for Lightning eMotors Inc. is set at 0.06, with the Price to Sales ratio for ZEV stock in the period of the last 12 months amounting to 1.11. The Price to Book ratio for the last quarter was 0.46, with the Price to Cash per share for the same quarter was set at 1.16.

How has ZEV stock performed recently?

Lightning eMotors Inc. [ZEV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -22.56. With this latest performance, ZEV shares dropped by -48.94% in over the last four-week period, additionally sinking by -88.20% over the last 6 months – not to mention a drop of -94.74% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ZEV stock in for the last two-week period is set at 26.54, with the RSI for the last a single of trading hit 25.29, and the three-weeks RSI is set at 28.16 for Lightning eMotors Inc. [ZEV]. The present Moving Average for the last 50 days of trading for this stock 0.8654, while it was recorded at 0.3259 for the last single week of trading, and 2.7893 for the last 200 days.

Lightning eMotors Inc. [ZEV]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Lightning eMotors Inc. [ZEV] shares currently have an operating margin of -200.76 and a Gross Margin at -28.55. Lightning eMotors Inc.’s Net Margin is presently recorded at -480.04.

Return on Equity for this stock declined to -92.15, with Return on Assets sitting at -48.35.

Lightning eMotors Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.90 and a Current Ratio set at 6.40.

Insider trade positions for Lightning eMotors Inc. [ZEV]

There are presently around $5 million, or 19.60% of ZEV stock, in the hands of institutional investors. The top three institutional holders of ZEV stocks are: INVESCO LTD. with ownership of 3,118,464, which is approximately -27.627% of the company’s market cap and around 4.40% of the total institutional ownership; VANGUARD GROUP INC, holding 2,116,728 shares of the stock with an approximate value of $0.69 million in ZEV stocks shares; and BLACKROCK INC., currently with $0.67 million in ZEV stock with ownership of nearly -1.796% of the company’s market capitalization.

Positions in Lightning eMotors Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 39 institutional holders increased their position in Lightning eMotors Inc. [NYSE:ZEV] by around 1,402,697 shares. Additionally, 35 investors decreased positions by around 2,123,970 shares, while 25 investors held positions by with 11,264,787 shares. The mentioned changes placed institutional holdings at 14,791,454 shares, according to the latest SEC report filing. ZEV stock had 15 new institutional investments in for a total of 724,754 shares, while 14 institutional investors sold positions of 416,663 shares during the same period.


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