Neutron (NASDAQ:LIME) Stock Price Up 5.6% - Should You Buy?

Key Points

• Neutron shares rose 5.6% to about $20, while trading volume was 52% below the average session volume.
• Analyst views were mixed: the consensus rating was Moderate Buy with a $34 price target, though some firms downgraded the stock or cut targets.
• Quarterly EPS of $0.63 and revenue of $360.63 million both topped estimates; revenue grew 19.6% year over year, while EPS fell from $1.01 a year earlier.

Neutron Holdings, Inc. (NASDAQ:LIME - Get Free Report) shares were up 5.6% during trading on Friday. The company traded as high as $19.95 and last traded at $20.0440. Approximately 196,014 shares were traded during trading, a decline of 52% from the average session volume of 408,586 shares. The stock had previously closed at $18.99.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Zacks Research cut shares of Neutron from a "hold" rating to a "strong sell" rating in a research note on Thursday, November 5th. Weiss Ratings lowered Neutron from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, November 4th. Citigroup reissued a "market outperform" rating on shares of Neutron in a report on Monday, October 26th. Needham & Company LLC lowered their price objective on Neutron from $36.00 to $29.00 and set a "buy" rating on the stock in a research report on Wednesday, November 4th. Finally, Citizens Jmp reduced their target price on Neutron from $33.00 to $27.00 and set a "market outperform" rating for the company in a research report on Wednesday, November 4th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $34.00.

Neutron Price Performance

The firm has a market cap of $1.31 billion and a price-to-earnings ratio of 32.69. The stock has a 50-day moving average of $27.04.

Neutron (NASDAQ:LIME - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.20. The business had revenue of $360.63 million during the quarter, compared to the consensus estimate of $349.30 million. During the same period in the prior year, the firm earned $1.01 earnings per share. The business's quarterly revenue was up 19.6% compared to the same quarter last year. Sell-side analysts anticipate that Neutron Holdings, Inc. will post 3.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LIME. Resona Holdings Inc. acquired a new stake in shares of Neutron in the 3rd quarter valued at $713,000. State Street Corp bought a new position in Neutron in the third quarter valued at about $3,347,000. Royce & Associates LP acquired a new stake in Neutron in the third quarter worth about $5,043,000. Finally, Mawer Investment Management Ltd. acquired a new stake in Neutron in the third quarter worth about $40,741,000.

About Neutron

Neutron Holdings, Inc., which operates under the Lime name, provides shared electric micromobility services. Through its mobile app, riders can locate and rent electric scooters and bikes for short trips. Founded in 2017, Lime has expanded from its early bike-sharing operations to offer electric vehicles in cities across multiple countries. Its services are intended for urban transportation and are often used for first- and last-mile connections. Wayne Ting has served as Lime's chief executive officer.

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