- Colliers analyst Donovan Schafer downgraded Hyzon Motors Inc HYZN to Neutral from Buy and removed the price target of $15.
- The analyst updated the ratings after the company disclosed that it received a subpoena from the SEC requesting documentation about the Blue Orca Capital short report published in September 2021.
- Related Content: Hyzon Shares Sink Amid Disclosure Of SEC Investigation, Revenue Warning
- While the SEC's decision to request documents "might sound ominous," Schafer thinks that "might be a hasty conclusion."
- However, he is still moving to the sidelines in light of the uncertainty around how the investigation might unfold.
- Price Action: HYZN shares are trading lower by 9.31% at $5.51 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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