Lilium (NASDAQ:LILM) Downgraded by Canaccord Genuity Group
by Michael Walen · The Markets DailyLilium (NASDAQ:LILM – Get Free Report) was downgraded by research analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.
Other equities research analysts have also recently issued reports about the company. Cantor Fitzgerald cut Lilium from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $2.00 to $1.00 in a research report on Friday. Canaccord Genuity Group reissued a “hold” rating and issued a $0.70 price target (down from $1.85) on shares of Lilium in a report on Thursday.
Read Our Latest Stock Analysis on LILM
Lilium Price Performance
NASDAQ LILM opened at $0.49 on Thursday. The stock has a 50-day simple moving average of $0.74 and a 200 day simple moving average of $0.85. Lilium has a twelve month low of $0.46 and a twelve month high of $1.41.
Institutional Trading of Lilium
A number of institutional investors and hedge funds have recently modified their holdings of the company. Quadrature Capital Ltd bought a new position in Lilium in the fourth quarter worth $280,000. Longitude Cayman Ltd. boosted its position in shares of Lilium by 20.5% during the 1st quarter. Longitude Cayman Ltd. now owns 1,350,000 shares of the company’s stock valued at $1,296,000 after acquiring an additional 230,000 shares in the last quarter. Freestone Capital Holdings LLC bought a new stake in Lilium in the first quarter valued at about $55,000. Virtu Financial LLC acquired a new position in Lilium in the first quarter worth about $32,000. Finally, Financial Designs Corp bought a new position in Lilium during the second quarter worth about $32,000. 8.30% of the stock is currently owned by institutional investors.
About Lilium
Lilium N.V. engages in the research and development of electric vertical takeoff and landing aircrafts and jet for use in high-speed air transport system for people and goods. It also provides aircraft manufacturer services, including training services, maintenance operations, material management and global distribution, flight operations support, ground service equipment, and digital solutions.