Adomani (ADOM) Sees Strong Trading Volume
Shares of Adomani Inc (NASDAQ:ADOM) saw unusually-high trading volume on Tuesday . Approximately 2,122,371 shares were traded during mid-day trading, an increase of 150% from the previous session’s volume of 849,167 shares.The stock last traded at $0.37 and had previously closed at $0.36.
ADOM has been the topic of several recent analyst reports. Zacks Investment Research upgraded Adomani from a “hold” rating to a “buy” rating and set a $0.50 price target on the stock in a research note on Wednesday, May 8th. Roth Capital reiterated a “neutral” rating on shares of Adomani in a research note on Friday, May 3rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $3.00 price target on shares of Adomani in a research note on Thursday, February 21st.
The stock has a market capitalization of $26.22 million, a price-to-earnings ratio of -2.40 and a beta of 1.73.
A hedge fund recently bought a new stake in Adomani stock. MYDA Advisors LLC acquired a new position in shares of Adomani Inc (NASDAQ:ADOM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 150,000 shares of the company’s stock, valued at approximately $59,000. MYDA Advisors LLC owned about 0.21% of Adomani as of its most recent SEC filing. 2.57% of the stock is currently owned by institutional investors and hedge funds.
About Adomani (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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