Forecasted sales of $31 million in 2020 and other indicators have investment analysts projecting big moves for ADOMANI stock pricing in the coming year
REDWOOD CITY, CALIFORNIA, USA, June 25, 2019 /EINPresswire.com/ — It's one thing to have a corporation's board of directors announce that it is optimistic about the future of the company due to knowledge of upcoming product lines and market indicators. That's a given. But it's something much different when the stock market pundits start to take notice of your company and project stock price increases that are four to five-fold the current asking price.
In a recent report, ADOMANI forecast sales of $31 million for 2020. Zack's Investment Research is now projecting that the stock price for ADOMANI Electric (Nasdaq: ADOM) will jump to $1.65 in the coming year – that's a more than four times the current stock price. Other analysts have rated the ADOMANI stock price even higher for 2020; Roth Capital projecting a price of $2.00 per share and H. C. Wainwright forecasting $3.00 per share.
Other factors lifting ADOMANI profitability projections include a number of new products that will go online for 2020, a new facility in Downey, California that will open later in 2019 and a number of alliances with other advanced technology companies. Among these key alliances include ProMotive EV (CEO Dan Panoz), Super Capacitor builder Amperics and JFP Holdings founded by Wall Street veteran, Jack Perkowski. These kinds of advanced technology topics and significant partners have drawn the attention of Wall Street investment analysts.
ADOMANI-powered electric school buses have become highly attractive to school districts which are being directed by government mandates to taper down the purchase of diesel-powered school buses (California will require 25% of all bus purchases to be electric starting in 2023 and will cease all diesel bus sales by 2029), which means a big push for electric school buses nationwide.
The California Energy Commission has announced the qualifying buses, that passed their Technical Evaluation phase, can be ordered through the Clean Transportation Program’s Grant, GFO-18-604. School Districts in California are eligible for hundreds of thousands of dollars in grant funding towards Blue Bird’s Type A Electric Micro Bird, Type C Electric Vision and Type D Electric Rear Engine school buses powered by ADOMANI.
ADOMANI has worked closely with Blue Bird, a manufacturer of quality school buses since 1927, to develop an all-electric school bus with a range of 150 miles. Using the large number of government subsidies available to school districts (including recent grants from the California Energy Commission), school districts can affordably "upgrade" their current diesel-powered school bus fleets to electric to meet upcoming mandates. That news has investors excited about the potential for ADOMANI products.
"The drivetrain has a proven track record of success in EV applications, and has performed extremely well in multiple testing scenarios," said Jim Reynolds, president and CEO of ADOMANI. "Add that to Blue Bird’s proven, safety-driven bus design, and you won’t find a better EV bus product out there."
For more information go to www.ADOMANIelectric.com
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Source: EIN Presswire