Cantor Fitzgerald Downgrades Lilium (NASDAQ:LILM) to Neutral

Lilium (NASDAQ:LILM) was downgraded by research analysts at Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a research note issued to investors on Friday, MarketBeat.com reports. They currently have a $1.00 price objective on the stock, down from their prior price objective of $2.00. Cantor Fitzgerald’s target price suggests a potential upside of 104.96% from the company’s previous close.

Separately, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $0.70 price objective (down from $1.85) on shares of Lilium in a research note on Thursday.

Lilium Stock Performance

Shares of LILM opened at $0.49 on Friday. The firm’s 50-day moving average is $0.74 and its two-hundred day moving average is $0.85. Lilium has a twelve month low of $0.46 and a twelve month high of $1.41.

Institutional Investors Weigh In On Lilium

A number of large investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd purchased a new stake in shares of Lilium in the fourth quarter valued at about $280,000. Virtu Financial LLC purchased a new stake in Lilium in the 1st quarter valued at approximately $32,000. Freestone Capital Holdings LLC acquired a new stake in Lilium during the 1st quarter valued at $55,000. Warberg Asset Management LLC purchased a new position in Lilium during the second quarter worth $27,000. Finally, RS Crum Inc. acquired a new position in shares of Lilium in the second quarter worth $328,000. 8.30% of the stock is owned by institutional investors and hedge funds.

Lilium Company Profile

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.