Lightning eMotors price target lowered to $1.50 from $2.50 at Northland

Northland analyst Abhishek Sinha lowered the firm’s price target on Lightning eMotors to $1.50 from $2.50 and keeps an Outperform rating on the shares after the company announced its plans to issue equity in the first half of this year on its Q4 earnings call. While "there is no doubt in our mind that [management] has failed in timing the market to financially engineer the task at hand," that does not change Lightning’s prospects and the growth potential, argues the analyst, who thinks "the business is strong" despite the tough financial environment.