Adomani Inc (ADOM) Given $2.50 Consensus Price Target by Brokerages

Adomani Inc (NASDAQ:ADOM) has earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokerages have set a twelve-month consensus price target of $2.50 for the company and are predicting that the company will post ($0.03) EPS for the current quarter, according to Zacks. Zacks has also given Adomani an industry rank of 112 out of 257 based on the ratings given to related companies.

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

An institutional investor recently bought a new position in Adomani stock. Atwood & Palmer Inc. bought a new stake in shares of Adomani Inc (NASDAQ:ADOM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 463,630 shares of the company’s stock, valued at approximately $505,000. Atwood & Palmer Inc. owned about 0.65% of Adomani at the end of the most recent reporting period. 1.55% of the stock is owned by hedge funds and other institutional investors.

Shares of Adomani stock traded down $0.02 on Thursday, reaching $0.51. 905,749 shares of the company’s stock were exchanged, compared to its average volume of 877,068. The stock has a market capitalization of $40.73 million, a price-to-earnings ratio of -1.64 and a beta of 0.45. Adomani has a 52 week low of $0.35 and a 52 week high of $6.73.

Adomani (NASDAQ:ADOM) last posted its quarterly earnings results on Wednesday, October 24th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). The firm had revenue of $2.62 million for the quarter, compared to analysts’ expectations of $2.11 million. Adomani had a negative return on equity of 126.89% and a negative net margin of 235.98%. Sell-side analysts expect that Adomani will post -0.16 earnings per share for the current fiscal year.

About Adomani

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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