Adomani (OTCMKTS:ADOM) Upgraded at Zacks Investment Research

Adomani (OTCMKTS:ADOM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, reports.

According to Zacks, “Adomani Inc provides school bus and fleet operators with Zero Emission Vehicle and plug-in hybrid solutions. The company brings together proven patented electric drivetrain technology, customized products and trusted service partners. Adomani Inc is based in Newport Beach, United States. “

Shares of OTCMKTS:ADOM traded up $0.02 during mid-day trading on Friday, reaching $0.10. The stock has a 50 day moving average of $0.09 and a 200 day moving average of $0.25. The firm has a market cap of $7.30 million, a PE ratio of -0.67 and a beta of 1.74. Adomani has a one year low of $0.05 and a one year high of $0.71.

Adomani (OTCMKTS:ADOM) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.02) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.02). Adomani had a negative return on equity of 78.98% and a negative net margin of 64.22%. The company had revenue of $4.39 million for the quarter, compared to analysts’ expectations of $3.14 million. As a group, equities research analysts expect that Adomani will post -0.07 EPS for the current year.

In other news, Director John F. Mcgovern acquired 4,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $12.55 per share, with a total value of $50,200.00. Insiders have bought a total of 54,800 shares of company stock worth $66,181 over the last ninety days. Insiders own 30.11% of the company’s stock.

Adomani Company Profile

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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