Adomani Inc (NASDAQ:ADOM)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $0.34, but opened at $0.37. Adomani shares last traded at $0.37, with a volume of 2251 shares changing hands.

ADOM has been the topic of several analyst reports. Zacks Investment Research raised shares of Adomani from a “hold” rating to a “buy” rating and set a $0.50 price target on the stock in a report on Wednesday, May 8th. HC Wainwright reaffirmed a “buy” rating and set a $3.00 price target on shares of Adomani in a report on Thursday, February 21st. Finally, Roth Capital reaffirmed a “neutral” rating on shares of Adomani in a report on Friday, May 3rd.

The firm has a market cap of $26.22 million, a price-to-earnings ratio of -2.46 and a beta of 1.73.

Adomani (NASDAQ:ADOM) last issued its quarterly earnings results on Tuesday, February 19th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.02. Adomani had a negative net margin of 169.52% and a negative return on equity of 104.32%. The business had revenue of $1.18 million for the quarter, compared to the consensus estimate of $3.36 million. As a group, equities research analysts expect that Adomani Inc will post -0.09 EPS for the current year.

A hedge fund recently bought a new stake in Adomani stock. MYDA Advisors LLC acquired a new stake in shares of Adomani Inc (NASDAQ:ADOM) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 150,000 shares of the company’s stock, valued at approximately $59,000. MYDA Advisors LLC owned about 0.21% of Adomani at the end of the most recent reporting period. 2.57% of the stock is currently owned by hedge funds and other institutional investors.

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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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