Lightning eMotors Inc. (NYSE: ZEV) stock jumped 7.93% on Monday to $0.79 against a previous-day closing price of $0.73. With 2.57 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.75 million shares. During the session, the Farm & Heavy Construction Machinery company that operates in wider Industrials sector, reached to the highest price of $0.8000 whereas the lowest price it dropped to was $0.7110. The 52-week range on ZEV shows that it touched its highest point at $6.05 and its lowest point at $0.29 during that stretch. It currently has a 1-year price target of $4.02.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ZEV was up-trending over the past week, with a rise of 10.21%, but this was up by 84.24% over a month. Three-month performance dropped to -40.30% while six-month performance fell -77.29%. The stock lost -83.82% in the past year, while it has gained 115.01% so far this year. A look at the trailing 12-month EPS for ZEV yields 0.56 with Next year EPS estimates of -1.03. For the next quarter, that number is -0.28. This implies an EPS growth rate of -199.90% for this year and -1371.40% for next year.
Float and Shares Shorts:
At present, 75.75 million ZEV shares are outstanding with a float of 42.29 million shares on hand for trading. On Oct 13, 2022, short shares totaled 9.1 million, which was 11.99% higher than short shares on Sep 14, 2022. In addition to Mr. Robert Fenwick-Smith as the firm’s Exec. Chairman, Mr. Timothy Richard Reeser serves as its Co-Founder, Pres, CEO & Director.
Through their ownership of 20.55% of ZEV’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.27% of ZEV, in contrast to 57.22% held by mutual funds. Shares owned by individuals account for 13.28%. As the largest shareholder in ZEV with 4.10% of the stake, Invesco Capital Management LLC holds 3,118,464 shares worth 3,118,464. A second-largest stockholder of ZEV, The Vanguard Group, Inc., holds 2,047,502 shares, controlling over 2.69% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ZEV, holding 1,862,721 shares or 2.45% stake. With a 1.95% stake in ZEV, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,485,715 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.04% of ZEV stock, is the second-largest Mutual Fund holder. It holds 794,329 shares valued at 0.29 million. Vanguard Extended Market Index Fu holds 0.49% of the stake in ZEV, owning 371,854 shares worth 0.14 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ZEV since 5 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ZEV analysts setting a high price target of $6.00 and a low target of $0.60, the average target price over the next 12 months is $3.02. Based on these targets, ZEV could surge 659.49% to reach the target high and fall by -24.05% to reach the target low. Reaching the average price target will result in a growth of 282.28% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ZEV will report FY 2022 earnings on 03/26/2024. Analysts have provided yearly estimates in a range of -$0.96 being high and -$1.05 being low. For ZEV, this leads to a yearly average estimate of -$1.01. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Lightning eMotors Inc. surprised analysts by $0.01 when it reported -$0.28 EPS against a consensus estimate of -$0.29. The surprise factor in the prior quarter was $0.10. Based on analyst estimates, the high estimate for the next quarter is -$0.23 and the low estimate is -$0.29. The average estimate for the next quarter is thus -$0.26.
Summary of Insider Activity:
Insiders traded ZEV stock several times over the past three months with 1 Buys and 2 Sells. In these transactions, 100,000 shares were bought while 1,301,650 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 14 over the past year. The total number of shares bought during that period was 1,361,139 while 4,107,607 shares were sold.