Lilium (NASDAQ:LILM) Downgraded by Cantor Fitzgerald to Neutral

Cantor Fitzgerald lowered shares of Lilium (NASDAQ:LILM) from an overweight rating to a neutral rating in a report issued on Friday morning, MarketBeat.com reports. They currently have $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 price target (down previously from $1.85) on shares of Lilium in a research note on Thursday.

Lilium Price Performance

Shares of NASDAQ LILM opened at $0.49 on Friday. Lilium has a 52-week low of $0.46 and a 52-week high of $1.41. The business’s 50 day moving average is $0.74 and its two-hundred day moving average is $0.85.

Hedge Funds Weigh In On Lilium

Several hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in Lilium during the second quarter worth $25,000. Warberg Asset Management LLC acquired a new position in Lilium in the 2nd quarter worth $27,000. RS Crum Inc. acquired a new position in Lilium in the 2nd quarter worth $328,000. Longitude Cayman Ltd. lifted its holdings in Lilium by 12.2% in the 2nd quarter. Longitude Cayman Ltd. now owns 1,514,672 shares of the company’s stock worth $1,204,000 after buying an additional 164,672 shares in the last quarter. Finally, Financial Designs Corp bought a new stake in shares of Lilium in the 2nd quarter worth about $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.