H.C. Wainwright analyst Amit Dayal maintained a Buy rating on ADOMANI Inc (ADOM) today and set a price target of $3. The company’s shares closed yesterday at $0.49.
Dayal noted:
“We believe that the key near-term driver for the company’s growth is the execution on its $10.1M order backlog. Mid-term growth depends on the pace of implementation of the various federal and state incentive programs as well as on the disbursement of the Volkswagen Fund.”
According to TipRanks.com, Dayal ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -8.3% and a 40.8% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Capstone Turbine Corp, and Orion Energy Systems.
ADOMANI Inc has an analyst consensus of Moderate Buy, with a price target consensus of $3.
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The company has a one-year high of $1.97 and a one-year low of $0.16. Currently, ADOMANI Inc has an average volume of 583.6K.
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Adomani, Inc. designs, manufacture and installs advanced zero-emission electric drivetrain systems for fleet vehicles. It offers electric drive shaft, controller, batteries, and battery management system. The company was founded by Robert E. Williams in 2012 and is headquartered in Newport Beach, CA.
