Lilium (NASDAQ:LILM) Cut to “Hold” at Canaccord Genuity Group

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

Other analysts have also recently issued reports about the stock. Canaccord Genuity Group reiterated a “hold” rating and issued a $0.70 target price (down from $1.85) on shares of Lilium in a research note on Thursday. Cantor Fitzgerald cut shares of Lilium from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $2.00 to $1.00 in a research report on Friday.

Lilium Stock Performance

Shares of LILM stock opened at $0.49 on Thursday. The firm’s 50 day moving average is $0.74 and its 200 day moving average is $0.85. Lilium has a 12 month low of $0.46 and a 12 month high of $1.41.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Longitude Cayman Ltd. boosted its position in shares of Lilium by 12.2% in the second quarter. Longitude Cayman Ltd. now owns 1,514,672 shares of the company’s stock worth $1,204,000 after purchasing an additional 164,672 shares during the period. RS Crum Inc. purchased a new stake in Lilium during the second quarter valued at $328,000. Quadrature Capital Ltd purchased a new stake in Lilium during the fourth quarter valued at $280,000. Freestone Capital Holdings LLC purchased a new stake in Lilium during the first quarter valued at $55,000. Finally, Financial Designs Corp bought a new position in Lilium during the second quarter valued at $32,000. 8.30% of the stock is owned by hedge funds and other institutional investors.

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.