Canaccord Genuity Group Trims Lilium (NASDAQ:LILM) Target Price to $1.85

Lilium (NASDAQ:LILM) had its price objective reduced by Canaccord Genuity Group from $2.00 to $1.85 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Separately, Cantor Fitzgerald reissued an overweight rating and issued a $2.00 price target on shares of Lilium in a report on Monday, September 30th.

Lilium Stock Performance

Shares of NASDAQ:LILM opened at $0.79 on Wednesday. Lilium has a 52 week low of $0.60 and a 52 week high of $1.41. The company has a 50-day moving average price of $0.76 and a 200 day moving average price of $0.87.

Hedge Funds Weigh In On Lilium

A number of large investors have recently made changes to their positions in LILM. Quadrature Capital Ltd purchased a new stake in Lilium during the fourth quarter worth about $280,000. Longitude Cayman Ltd. lifted its position in shares of Lilium by 20.5% during the 1st quarter. Longitude Cayman Ltd. now owns 1,350,000 shares of the company’s stock valued at $1,296,000 after acquiring an additional 230,000 shares during the period. Freestone Capital Holdings LLC purchased a new stake in shares of Lilium during the 1st quarter worth approximately $55,000. Virtu Financial LLC acquired a new stake in shares of Lilium in the 1st quarter worth approximately $32,000. Finally, Financial Designs Corp purchased a new position in Lilium in the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors 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.