On March 14, 2023, Oppenheimer downgraded their outlook for Lightning eMotors (NYSE:ZEV) from Outperform to Perform.
Analyst Price Forecast Suggests 1,097.96% Upside
As of March 14, 2023, the average one-year price target for Lightning eMotors is $4.10. The forecasts range from a low of $0.61 to a high of $9.45. The average price target represents an increase of 1,097.96% from its latest reported closing price of $0.34.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Lightning eMotors is $128MM, an increase of 424.19%. The projected annual non-GAAP EPS is -$1.08.
What are Large Shareholders Doing?
PBW - Invesco WilderHill Clean Energy ETF holds 2,983K shares representing 3.32% ownership of the company. In it's prior filing, the firm reported owning 4,296K shares, representing a decrease of 44.04%. The firm decreased its portfolio allocation in ZEV by 61.60% over the last quarter.
Wolverine Asset Management holds 2,674K shares representing 2.98% ownership of the company.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,486K shares representing 1.65% ownership of the company. No change in the last quarter.
Parallax Volatility Advisers holds 1,074K shares representing 1.20% ownership of the company. In it's prior filing, the firm reported owning 500K shares, representing an increase of 53.45%. The firm decreased its portfolio allocation in ZEV by 49.00% over the last quarter.
Bank of New York Mellon holds 911K shares representing 1.01% ownership of the company. In it's prior filing, the firm reported owning 106K shares, representing an increase of 88.38%. The firm decreased its portfolio allocation in ZEV by 65.56% over the last quarter.
What is the Fund Sentiment?
There are 172 funds or institutions reporting positions in Lightning eMotors. This is a decrease of 4 owner(s) or 2.27% in the last quarter. Average portfolio weight of all funds dedicated to ZEV is 0.02%, a decrease of 37.73%. Total shares owned by institutions increased in the last three months by 5.26% to 17,065K shares. The put/call ratio of ZEV is 0.16, indicating a bullish outlook.
Lightning eMotors Background Information
(This description is provided by the company.)
Lightning eMotors, Inc. operates as an automobile company. The Company manufactures electric fleet medium- and heavy-duty vehicles, including delivery trucks, shuttle buses, passenger vans, chassis-cab models, and city transit buses. Lightning eMotors serves customers worldwide.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
