Why ADOMANI, Inc. (ADOM) suffered big slump?

ADOMANI, Inc. (NASDAQ:ADOM) went up to recover about -20.95% since recording its record low price of $6.44. The stock experienced -25.69% slump, arriving at $4.83 on Oct. 17, 2017. During the day, the stock price traveled from $0 to $0. This company shares are -100% up from its target price of $0 and the current market capitalization stands at $332.11M. The recent change has given its price a -49.72% deficit over SMA 50 and -73.62% deficit over its 52-week high. The stock witnessed -30.6% declines, -54.04% declines and 0% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found ADOM’s volatility during a week at 12.39% and during a month it has been found around 9.46%.

ADOMANI, Inc. 13F Filings

At the end of June reporting period, 2 institutional holders increased their position in ADOMANI, Inc. (NASDAQ:ADOM) by some 725 shares . That puts total institutional holdings at 725 shares, according to SEC filings. The stock grabbed 2 new institutional investments totaling 725 shares .

The company recently received a three unit purchase order from Calaveras Unified School District (CUSD) that totals over $1.1 million for their first zero-emission electric 72-seat school buses.

Through a partnership with Senator Mike McGuire and the California Air Resources Board (CARB) the North Coast Unified Air Quality Management District (NCUAQMD) was asked to administer the Rural School Bus Pilot Project for the State of California. The main goal of this grant program is accelerating the turnover of California school bus fleets to lower carbon transportation choices, especially in rural school districts that have had less access to other funding sources. Traditionally, small and rural school districts have the oldest and dirtiest burning fleets, and historically have not had the opportunity or ability to receive funds for replacement or upgrade projects. According to the US EPA, more than half of today’s school buses have been in service for over a decade while in California it’s believed the average age is closer to fifteen years. A school bus chassis age of over 20 years was one of the requirements of this Rural School Bus Pilot Program for new school bus replacement consideration. These older buses emit twice as much pollution per mile as a semi-truck.

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