Envirotech Vehicles (NASDAQ:EVTV) Trading Up 0.3% – Here’s Why

Envirotech Vehicles, Inc. (NASDAQ:EVTV) shares were up 0.3% on Wednesday . The stock traded as high as $2.03 and last traded at $1.9460. 714,311 shares were traded during trading, an increase of 33% from the average daily volume of 537,883 shares. The stock had previously closed at $1.94.

Analyst Upgrades and Downgrades

EVTV has been the subject of several recent research reports. Wall Street Zen cut shares of Envirotech Vehicles from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings cut Envirotech Vehicles from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Envirotech Vehicles Price Performance

The stock’s 50 day moving average is $1.79 and its two-hundred day moving average is $1.89. The stock has a market capitalization of $25.16 million, a PE ratio of -0.30 and a beta of 0.85.

Envirotech Vehicles (NASDAQ:EVTV) last issued its quarterly earnings results on Tuesday, May 19th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.00) by $1.69. Envirotech Vehicles had a negative net margin of 382.71% and a negative return on equity of 1,284.22%. The company had revenue of $2.25 million during the quarter, compared to the consensus estimate of $0.17 million.

Hedge Funds Weigh In On Envirotech Vehicles

An institutional investor recently bought a new position in Envirotech Vehicles stock. Quantinno Capital Management LP purchased a new position in shares of Envirotech Vehicles, Inc. (NASDAQ:EVTV) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 22,574 shares of the company’s stock, valued at approximately $38,000. Quantinno Capital Management LP owned about 0.17% of Envirotech Vehicles at the end of the most recent reporting period. Institutional investors and hedge funds own 5.65% of the company’s stock.

Envirotech Vehicles Company Profile

Envirotech Vehicles, Inc manufactures and provides zero-emission electric vehicles in the United States. It offers Class 2 through logistics vans; class 4 through urban trucks, school buses, electric forklifts, street sweepers, neighborhood electric vehicles, and right-hand drive vans and urban trucks. The company also offers vehicle maintenance and safety inspection services. It serves commercial and last-mile fleets, school districts, public and private transportation service companies, and colleges and universities.