UQM Technologies Inc (NYSE:UQM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage presently has a $0.50 price target on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 3.31% from the company’s previous close.
According to Zacks, “UQM Technologies, Inc. is a developer and manufacturer of power dense, high efficiency electric motors, generators and power electronic controllers for the automotive, aerospace, medical, military and industrial markets. A major emphasis of the Company is developing products for the alternative energy technologies sector including propulsion systems for electric, hybrid electric, plug-in hybrid electric and fuel cell electric vehicles, under-the-hood power accessories and other vehicle auxiliaries and distributed power generation applications. The Company’s headquarters, engineering and product development center, and motor manufacturing operation are located in Frederick, Colorado. “
Separately, HC Wainwright set a $2.00 target price on shares of UQM Technologies and gave the company a “buy” rating in a research note on Sunday, April 2nd.
Shares of UQM Technologies (NYSE:UQM) opened at 0.484 on Thursday. UQM Technologies has a 12 month low of $0.42 and a 12 month high of $0.90. The company has a 50 day moving average price of $0.47 and a 200-day moving average price of $0.51. The stock’s market cap is $23.49 million.
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A hedge fund recently raised its stake in UQM Technologies stock. Wells Fargo & Company MN boosted its position in shares of UQM Technologies Inc (NYSE:UQM) by 109.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 186,500 shares of the company’s stock after buying an additional 97,500 shares during the period. Wells Fargo & Company MN owned about 0.38% of UQM Technologies worth $114,000 at the end of the most recent quarter.
About UQM Technologies
UQM Technologies, Inc, (UQM) develops, manufactures and sells electric motors, generators, power electronic controllers and fuel cell compressors for the commercial truck, bus, automotive, marine, military and industrial markets. The Company’s focus is incorporating its technology as propulsion systems for electric, hybrid electric, plug-in hybrid electric and fuel cell electric vehicles, delivering the heart of the electric vehicle.
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