Lilium (NASDAQ:LILM) Downgraded to “Neutral” at Cantor Fitzgerald

Lilium (NASDAQ:LILM) was downgraded by research analysts at Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a research report issued on Friday, Briefing.com reports. They presently have a $1.00 target price on the stock, down from their prior target price of $2.00. Cantor Fitzgerald’s price objective would indicate a potential upside of 73.82% from the company’s previous close.

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

Lilium Trading Down 21.3 %

NASDAQ:LILM opened at $0.58 on Friday. The company’s fifty day moving average price is $0.75 and its 200-day moving average price is $0.86. Lilium has a 1-year low of $0.52 and a 1-year high of $1.41.

Hedge Funds Weigh In On Lilium

Institutional investors have recently made changes to their positions in the company. XTX Topco Ltd purchased a new stake in Lilium during the second quarter worth $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 purchased a new stake in shares of Lilium during the 2nd quarter worth about $32,000. Virtu Financial LLC acquired a new stake in shares of Lilium during 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.