Lilium (NASDAQ:LILM) Downgraded by Canaccord Genuity Group to “Hold”

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

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

Lilium Stock Down 15.2 %

Shares of LILM opened at $0.49 on Thursday. Lilium has a 52-week low of $0.46 and a 52-week high of $1.41. The stock has a 50 day moving average price of $0.74 and a 200 day moving average price of $0.85.

Institutional Trading of Lilium

A number of large investors have recently bought and sold shares of LILM. XTX Topco Ltd acquired a new position in Lilium in the 2nd quarter valued at about $25,000. Warberg Asset Management LLC purchased a new position in shares of Lilium in the 2nd quarter valued at approximately $27,000. RS Crum Inc. purchased a new stake in shares of Lilium during the second quarter worth approximately $328,000. Longitude Cayman Ltd. raised its stake in shares of Lilium by 12.2% during 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 last quarter. Finally, Financial Designs Corp purchased a new position in Lilium in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 8.30% of the company’s stock.

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.