Hyzon Motors price target lowered to $1 from $4 at DA Davidson

DA Davidson analyst Michael Shlisky lowered the firm’s price target on Hyzon Motors to $1 from $4 and keeps a Neutral rating on the shares after its wider than expected Q1 earnings loss. While the company is still going strong, actively testing its newly-focused products and obtaining orders, from a financial perspective, the firm was “left with more questions than answers” as Hyzon is burning about $12M per month at this point and a financial advisor has been hired to help obtain more capital, the analyst tells investors in a research note.