Canaccord Genuity Group Downgrades Lilium (NASDAQ:LILM) to Hold

Canaccord Genuity Group cut shares of Lilium (NASDAQ:LILM) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday, Zacks.com reports.

LILM has been the topic of several other reports. Cantor Fitzgerald cut shares of Lilium from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $2.00 to $1.00 in a research note on Friday. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $0.70 target price (down previously from $1.85) on shares of Lilium in a research report on Thursday.

Lilium Trading Down 15.2 %

NASDAQ LILM opened at $0.49 on Thursday. The business’s fifty day simple moving average is $0.74 and its 200-day simple moving average is $0.85. Lilium has a 52 week low of $0.46 and a 52 week high of $1.41.

Hedge Funds Weigh In On Lilium

Institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new position in shares of Lilium in the fourth quarter valued at approximately $280,000. Virtu Financial LLC acquired a new position in shares of Lilium in the first quarter worth $32,000. Freestone Capital Holdings LLC purchased a new stake in shares of Lilium during the first quarter worth $55,000. Warberg Asset Management LLC purchased a new stake in shares of Lilium during the second quarter worth $27,000. Finally, RS Crum Inc. acquired a new stake in shares of Lilium in the second quarter valued at $328,000. 8.30% of the stock is owned by institutional investors and hedge funds.

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.