Zacks Investment Research upgraded shares of Adomani (NASDAQ:ADOM) from a hold rating to a buy rating in a research note published on Thursday, Zacks.com reports. The brokerage currently has $0.25 price objective on the stock.
According to Zacks, “Adomani Inc provides school bus and fleet operators with Zero Emission Vehicle and plug-in hybrid solutions. The company brings together proven patented electric drivetrain technology, customized products and trusted service partners. Adomani Inc is based in Newport Beach, United States. “
Separately, Roth Capital set a $194.00 price target on shares of Universal Display and gave the company a buy rating in a report on Friday, May 3rd.
Adomani (NASDAQ:ADOM) last issued its quarterly earnings results on Friday, May 3rd. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. Adomani had a negative net margin of 169.52% and a negative return on equity of 104.32%. The firm had revenue of $0.42 million during the quarter, compared to the consensus estimate of $1.46 million. On average, equities research analysts predict that Adomani will post -0.09 earnings per share for the current year.
A hedge fund recently raised its stake in Adomani stock. First Republic Investment Management Inc. raised its stake in Adomani Inc (NASDAQ:ADOM) by 31.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 839,000 shares of the company’s stock after purchasing an additional 200,000 shares during the period. First Republic Investment Management Inc. owned approximately 1.15% of Adomani worth $325,000 as of its most recent SEC filing. 2.51% of the stock is currently owned by hedge funds and other institutional investors.
Adomani Company Profile
ADOMANI, Inc provides zero-emission electric and hybrid drivetrain systems for integration in new and existing school buses and medium to heavy-duty commercial fleet vehicles. Its products include traction motor/generator and motor controller, as well as power-flow set up for direct-drive configuration, which is a single speed gearbox, or a multi-gear ration transmission system.
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