Advent Technologies (NASDAQ:ADN) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Advent Technologies (NASDAQ:ADN) from a sell rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Advent Technologies Inc. involved in the fuel cell and hydrogen technology space. The company accelerate electrification through advanced materials, components and fuel cell technology. Its technology applies to electrification and energy storage markets. Advent Technologies Inc., formerly known as AMCI Acquisition Corp., is based in CAMBRIDGE, Mass. “

Separately, Jefferies Financial Group began coverage on Advent Technologies in a report on Tuesday, July 6th. They issued a buy rating and a $18.00 price target for the company.

Shares of ADN opened at $8.88 on Wednesday. The stock has a 50 day moving average price of $8.05 and a 200 day moving average price of $9.65. Advent Technologies has a 52-week low of $6.56 and a 52-week high of $19.21.

Advent Technologies (NASDAQ:ADN) last announced its quarterly earnings results on Wednesday, August 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.04). The company had revenue of $1.00 million during the quarter. On average, sell-side analysts predict that Advent Technologies will post -0.63 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Elephas Investment Management Ltd purchased a new stake in shares of Advent Technologies during the second quarter worth approximately $3,022,000. Morgan Stanley purchased a new stake in shares of Advent Technologies during the second quarter worth approximately $146,000. Invesco Ltd. raised its stake in shares of Advent Technologies by 31.1% during the second quarter. Invesco Ltd. now owns 3,279,627 shares of the company’s stock worth $31,616,000 after purchasing an additional 777,495 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Advent Technologies during the second quarter worth approximately $165,000. Finally, California State Teachers Retirement System purchased a new stake in shares of Advent Technologies during the second quarter worth approximately $227,000. Institutional investors and hedge funds own 31.60% of the company’s stock.

About Advent Technologies

Advent Technologies Holdings, Inc operates as an advanced materials and technology development company. It develops, manufactures and assembles hydrogen fuel cell components. The company is headquartered in Boston, MA.

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