Lightning eMotors (NYSE:ZEV) Shares Scheduled to Reverse Split on Friday, April 28th

Posted by on Apr 26th, 2023

Lightning eMotors, Inc. (NYSE:ZEV – Get Rating) shares are scheduled to reverse split before the market opens on Friday, April 28th. The 1-20 reverse split was announced on Friday, April 28th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, April 28th.

Lightning eMotors Trading Down 27.6 %

NYSE:ZEV opened at $0.24 on Wednesday. The stock’s 50 day moving average price is $0.42 and its 200 day moving average price is $0.68. The company has a market capitalization of $27.26 million, a PE ratio of 3.01 and a beta of 2.70. The company has a quick ratio of 4.72, a current ratio of 7.68 and a debt-to-equity ratio of 1.14. Lightning eMotors has a 52-week low of $0.22 and a 52-week high of $4.93.

Wall Street Analyst Weigh In

ZEV has been the topic of several analyst reports. Oppenheimer downgraded Lightning eMotors from an “outperform” rating to a “market perform” rating in a research note on Monday, March 13th. DA Davidson lowered their target price on Lightning eMotors from $4.00 to $1.50 in a research note on Wednesday, March 15th. Benchmark reiterated a “buy” rating and issued a $2.00 target price on shares of Lightning eMotors in a research note on Tuesday, March 14th. Finally, Northland Securities lowered their target price on Lightning eMotors from $2.50 to $1.50 in a research note on Tuesday, March 14th.

Institutional Trading of Lightning eMotors

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Lightning eMotors by 29.4% during the first quarter. Vanguard Group Inc. now owns 2,219,464 shares of the company’s stock worth $12,651,000 after purchasing an additional 504,245 shares during the last quarter. State Street Corp raised its holdings in Lightning eMotors by 10.2% during the third quarter. State Street Corp now owns 831,122 shares of the company’s stock worth $1,288,000 after purchasing an additional 76,699 shares during the last quarter. HRT Financial LP raised its holdings in Lightning eMotors by 210.9% during the fourth quarter. HRT Financial LP now owns 356,919 shares of the company’s stock worth $130,000 after purchasing an additional 242,125 shares during the last quarter. Millennium Management LLC raised its holdings in Lightning eMotors by 884.3% during the fourth quarter. Millennium Management LLC now owns 345,737 shares of the company’s stock worth $127,000 after purchasing an additional 310,611 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Lightning eMotors by 563.4% during the second quarter. Northern Trust Corp now owns 309,477 shares of the company’s stock worth $858,000 after purchasing an additional 262,826 shares during the last quarter. 29.48% of the stock is currently owned by hedge funds and other institutional investors.

About Lightning eMotors

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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 battery electric and fuel cell electric vehicles.

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