Adomani (ADOM) Stock Price Up 5%

Adomani Inc (NASDAQ:ADOM) rose 5% during trading on Thursday . The stock traded as high as $0.46 and last traded at $0.42. Approximately 543,557 shares were traded during trading, a decline of 36% from the average daily volume of 854,821 shares. The stock had previously closed at $0.40.

ADOM has been the topic of several research analyst reports. HC Wainwright initiated coverage on shares of Adomani in a research note on Tuesday, August 14th. They set a “buy” rating and a $3.00 price target on the stock. Zacks Investment Research upgraded shares of 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. Finally, Roth Capital initiated coverage on shares of Adomani in a research note on Thursday. They set a “buy” rating and a $2.00 price target on the stock.

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

An institutional investor recently bought a new position in Adomani stock. Atwood & Palmer Inc. acquired a new stake in Adomani Inc (NASDAQ:ADOM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 463,630 shares of the company’s stock, valued at approximately $505,000. Atwood & Palmer Inc. owned 0.65% of Adomani as of its most recent filing with the Securities and Exchange Commission (SEC). 2.19% of the stock is currently owned by hedge funds and other institutional investors.

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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