Lilium (NASDAQ:LILM) Downgraded by Cantor Fitzgerald

Cantor Fitzgerald cut shares of Lilium (NASDAQ:LILM) from an overweight rating to a neutral rating in a research report released on Friday morning, MarketBeat Ratings reports. The firm currently has $1.00 target price on the stock, down from their previous target price of $2.00.

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

Lilium Stock Performance

NASDAQ LILM opened at $0.49 on Friday. The company has a fifty day moving average of $0.74 and a 200 day moving average of $0.85. Lilium has a 1 year low of $0.46 and a 1 year high of $1.41.

Institutional Trading of Lilium

Hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in Lilium in the second quarter valued at $25,000. Warberg Asset Management LLC purchased a new stake in shares of Lilium during the 2nd quarter worth about $27,000. Financial Designs Corp acquired a new stake in shares of Lilium during the 2nd quarter valued at about $32,000. Virtu Financial LLC purchased a new position in shares of Lilium in the 1st quarter valued at about $32,000. Finally, Freestone Capital Holdings LLC purchased a new position in shares of Lilium in the 1st quarter valued at about $55,000. 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.