Adomani (ADOM) Stock Price Down 14.5%

Adomani Inc (NASDAQ:ADOM)’s share price fell 14.5% during trading on Tuesday . The stock traded as low as $0.50 and last traded at $0.53. 3,706,714 shares changed hands during mid-day trading, an increase of 324% from the average session volume of 875,219 shares. The stock had previously closed at $0.62.

Several brokerages have commented on ADOM. HC Wainwright began coverage on Adomani in a research report on Tuesday, August 14th. They issued a “buy” rating and a $3.00 price objective on the stock. Roth Capital began coverage on Adomani in a research report on Thursday, November 1st. They issued a “buy” rating and a $2.00 price objective on the stock. Finally, Zacks Investment Research raised Adomani from a “hold” rating to a “buy” rating and set a $0.50 price objective on the stock in a research report on Wednesday, October 31st.

The stock has a market cap of $32.87 million, a P/E ratio of -1.73 and a beta of 0.45.

Adomani (NASDAQ:ADOM) last announced its quarterly earnings data on Wednesday, October 24th. The company reported ($0.02) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02). The company had revenue of $2.62 million for the quarter, compared to the consensus estimate of $2.11 million. Adomani had a negative return on equity of 126.89% and a negative net margin of 235.98%. Research analysts forecast 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. bought a new position in Adomani Inc (NASDAQ:ADOM) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 463,630 shares of the company’s stock, valued at approximately $505,000. Atwood & Palmer Inc. owned 0.65% of Adomani at the end of the most recent quarter. 1.55% of the stock is currently owned by institutional investors and hedge funds.

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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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