Adomani (ADOM) Shares Gap Down to $0.53

Adomani Inc (NASDAQ:ADOM)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $0.45, but opened at $0.53. Adomani shares last traded at $0.53, with a volume of 5600 shares.

A number of equities analysts have weighed in on ADOM shares. Roth Capital started coverage on Adomani in a report on Thursday, November 1st. They issued a “buy” rating and a $2.00 price target for the company. Zacks Investment Research upgraded Adomani from a “hold” rating to a “buy” rating and set a $0.50 price target for the company in a report on Wednesday, October 31st. Finally, HC Wainwright set a $3.00 price target on Adomani and gave the stock a “buy” rating in a report on Friday, October 26th.

The firm has a market capitalization of $32.87 million, a price-to-earnings ratio of -1.86 and a beta of 0.45.

Adomani (NASDAQ:ADOM) last released its quarterly earnings results on Wednesday, October 24th. The company reported ($0.02) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.02). Adomani had a negative return on equity of 126.89% and a negative net margin of 235.98%. The firm had revenue of $2.62 million during the quarter, compared to analysts’ expectations of $2.11 million. On average, equities research analysts anticipate that Adomani Inc will post -0.16 earnings per share for the current year.

An institutional investor recently bought a new position in Adomani stock. Atwood & Palmer Inc. bought a new stake in Adomani Inc (NASDAQ:ADOM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 463,630 shares of the company’s stock, valued at approximately $505,000. Atwood & Palmer Inc. owned approximately 0.65% of Adomani as of its most recent SEC filing. Institutional investors own 1.55% of the company’s stock.

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Adomani Company Profile (NASDAQ:ADOM)

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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