Adomani (NASDAQ:ADOM) Shares Down 16.7%

Adomani Inc (NASDAQ:ADOM) shares fell 16.7% on Thursday . The company traded as low as $0.11 and last traded at $0.15, 4,803,900 shares traded hands during mid-day trading. An increase of 476% from the average session volume of 834,570 shares. The stock had previously closed at $0.18.

A number of research firms recently weighed in on ADOM. Zacks Investment Research cut Adomani from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Roth Capital restated a “neutral” rating on shares of Adomani in a research note on Friday, May 3rd.

The business has a 50 day moving average of $0.24 and a two-hundred day moving average of $0.32. The firm has a market cap of $10.93 million, a P/E ratio of -1.00 and a beta of 1.37.

Adomani (NASDAQ:ADOM) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). Adomani had a negative return on equity of 78.98% and a negative net margin of 64.22%. The business had revenue of $4.39 million for the quarter, compared to analysts’ expectations of $3.14 million. Equities research analysts expect that Adomani Inc will post -0.07 EPS for the current fiscal year.

An institutional investor recently raised its position in Adomani stock. First Republic Investment Management Inc. boosted its holdings in Adomani Inc (NASDAQ:ADOM) by 31.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 839,000 shares of the company’s stock after acquiring an additional 200,000 shares during the period. First Republic Investment Management Inc. owned 1.15% of Adomani worth $325,000 as of its most recent filing with the Securities and Exchange Commission. 2.51% of the stock is owned by hedge funds and other institutional investors.

About Adomani (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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