Wolverine Asset Management LLC recently announced the acquisition of new stake in Lightning eMotors Inc. (NYSE:ZEV). This fresh investment now brings its stake to 2.98% valued currently at $1.79 million. In addition, The Vanguard Group, Inc. raised its holdings by 6969.0 to 2.05 million shares. And BlackRock Fund Advisors has lifted its position by 1.38% or 26269.0 shares – to 1.93 million shares.
With over 4.84 million Lightning eMotors Inc. (ZEV) shares trading Tuesday and a closing price of $0.32 on the day, the dollar volume was approximately $1.55 million. The shares have shown a negative half year performance of -85.12% and its price on 03/14/23 lost nearly -6.43%. Currently, there are 75.75M common shares owned by the public and among those 42.29M shares have been available to trade.
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Insiders at the company have transacted a total of 28 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 1,346,139 shares. Insider sales of the common stock occurred on 15 occasions, with total insider shares sold totaling 4,109,552 shares.
The top 3 mutual fund holders in Lightning eMotors Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 1.49 million shares of the company’s stock, all valued at over $1.0 million. iShares Russell 2000 ETF sold 2448.0 shares to see its total holdings shrink to 0.77 million shares valued at over $0.52 million and representing 0.86% of the shares outstanding. Vanguard Extended Market Index Fu now owns shares totaling to 0.41% of the shares outstanding.
Shares of Lightning eMotors Inc. (NYSE: ZEV) opened at $0.36, up $0.02 from a prior closing price of $0.34. However, the script later moved the day high at 0.3650, down -6.43%. The company’s stock has a 5-day price change of -47.85% and -37.66% over the past three months. ZEV shares are trading -12.69% year to date (YTD), with the 12-month market performance down to -93.95% lower. It has a 12-month low price of $0.29 and touched a high of $6.05 over the same period. ZEV has an average intraday trading volume of 2.03 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -48.88%, -51.31%, and -82.27% respectively.
Institutional ownership of Lightning eMotors Inc. (NYSE: ZEV) shares accounts for 19.60% of the company’s 75.75M shares outstanding. Mutual fund holders own 48.45%, while other institutional holders and individual stakeholders account for 5.07% and 12.76% respectively.
It has a market capitalization of $28.63M. The stock’s trailing 12-month PE ratio is 0.58, while the earnings-per-share (ttm) stands at $0.56. Price movements for the stock have been influenced by the stock’s volatility, which stands at 18.67% over the week and 13.39% over the month.
Analysts forecast that Lightning eMotors Inc. (ZEV) will achieve an EPS of -$0.27 for the current quarter, -$0.3 for the next quarter and -$1.01 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.29 while analysts give the company a high EPS estimate of -$0.23. Comparatively, EPS for the current quarter was $0.28 a year ago. Earnings per share for the fiscal year are expected to decrease by -199.90%, and -1342.90% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Lightning eMotors Inc. (ZEV) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 1 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ZEV, a number of firms have released research notes about the stock. Cantor Fitzgerald stated their Overweight rating for the stock in a research note on June 23, 2022, with the firm’s price target at $7. Northland Capital coverage for the Lightning eMotors Inc. (ZEV) stock in a research note released on May 26, 2022 offered a Outperform rating with a price target of $6.50. DA Davidson was of a view on August 11, 2021 that the stock is Buy, while BofA Securities gave the stock Underperform rating on August 06, 2021, issuing a price target of $6. Oppenheimer on their part issued Outperform rating on June 24, 2021.
