The Lion Electric Company (NYSE:LEV) Given Average Recommendation of “Hold” by Brokerages

Shares of The Lion Electric Company (NYSE:LEV) have been assigned an average recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $1.74.

Several research analysts recently weighed in on the company. National Bank Financial downgraded Lion Electric from a “sec perform spec market wgt” rating to an “underperform spec market wgt” rating in a research note on Wednesday, May 8th. BMO Capital Markets dropped their target price on Lion Electric from $2.00 to $1.00 and set a “market perform” rating on the stock in a research note on Thursday, May 9th. National Bankshares dropped their target price on Lion Electric from $2.25 to $1.75 and set a “sector perform” rating on the stock in a research note on Friday, March 1st. Barclays dropped their price target on Lion Electric from $2.00 to $1.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Finally, DA Davidson dropped their price target on Lion Electric from $3.50 to $1.50 and set a “buy” rating on the stock in a research note on Monday, May 13th.

Lion Electric Stock Performance

Shares of NYSE:LEV opened at $1.00 on Monday. Lion Electric has a 12-month low of $0.88 and a 12-month high of $2.68. The business’s fifty day simple moving average is $1.02 and its 200-day simple moving average is $1.41. The company has a current ratio of 2.65, a quick ratio of 0.73 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $226.18 million, a PE ratio of -2.04 and a beta of 2.17.

Lion Electric (NYSE:LEV) last announced its earnings results on Wednesday, May 8th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. Lion Electric had a negative return on equity of 18.99% and a negative net margin of 43.21%. The firm had revenue of $55.48 million for the quarter, compared to the consensus estimate of $71.82 million. As a group, equities research analysts predict that Lion Electric will post -0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lion Electric

Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. acquired a new position in shares of Lion Electric in the 4th quarter valued at about $28,000. Alpine Global Management LLC acquired a new position in Lion Electric in the 3rd quarter worth about $34,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Lion Electric by 75.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock worth $52,000 after purchasing an additional 12,712 shares during the period. Atria Wealth Solutions Inc. raised its holdings in Lion Electric by 20.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 103,310 shares of the company’s stock worth $183,000 after purchasing an additional 17,285 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Lion Electric by 9.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 191,436 shares of the company’s stock worth $366,000 after purchasing an additional 16,683 shares during the period. Institutional investors and hedge funds own 52.73% of the company’s stock.

About Lion Electric

The Lion Electric Company designs, develops, manufactures, and distributes purpose-built all-electric medium and heavy-duty urban vehicles in North America. The company's products include battery systems, chassis, bus bodies, and truck cabins. It distributes truck and bus parts, as well as accessories.