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

Posted by Defense World Staff on Apr 26th, 2023

Lightning eMotors, Inc. (NYSE:ZEV – Get Rating)’s stock is set to reverse split 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 Price Performance

Lightning eMotors stock opened at $0.24 on Wednesday. The firm has a market capitalization of $27.26 million, a P/E ratio of 3.01 and a beta of 2.70. The firm has a fifty day moving average of $0.42 and a 200-day moving average of $0.68. 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 Analysts Forecast Growth

A number of research firms recently weighed in on ZEV. Northland Securities lowered their price target on shares of Lightning eMotors from $2.50 to $1.50 in a report on Tuesday, March 14th. Benchmark reaffirmed a “buy” rating and set a $2.00 price target on shares of Lightning eMotors in a report on Tuesday, March 14th. Oppenheimer lowered shares of Lightning eMotors from an “outperform” rating to a “market perform” rating in a report on Monday, March 13th. Finally, DA Davidson decreased their price objective on shares of Lightning eMotors from $4.00 to $1.50 in a report on Wednesday, March 15th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ZEV. Virtu Financial LLC bought a new stake in Lightning eMotors in the 1st quarter valued at about $88,000. American International Group Inc. bought a new stake in Lightning eMotors in the 2nd quarter valued at about $51,000. JPMorgan Chase & Co. bought a new stake in Lightning eMotors in the 2nd quarter valued at about $58,000. Balyasny Asset Management LLC bought a new stake in Lightning eMotors in the 3rd quarter valued at about $50,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Lightning eMotors by 20.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 32,193 shares of the company’s stock worth $89,000 after buying an additional 5,489 shares in the last quarter. 29.48% of the stock is owned by institutional investors and hedge funds.

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.