Lion Electric (NYSE:LEV) Upgraded at B. Riley

Lion Electric (NYSE:LEV) was upgraded by investment analysts at B. Riley to a “strong-buy” rating in a report issued on Tuesday, Zacks.com reports.

LEV has been the subject of several other reports. Barclays reduced their price target on Lion Electric from $2.00 to $1.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. DA Davidson reduced their price target on Lion Electric from $3.50 to $1.50 and set a “buy” rating for the company in a research report on Monday, May 13th. National Bank Financial cut Lion Electric from a “sec perform spec market wgt” rating to an “underperform spec market wgt” rating in a research report on Wednesday, May 8th. Roth Mkm reduced their price target on Lion Electric from $2.50 to $2.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Finally, BMO Capital Markets reduced their price target on Lion Electric from $2.00 to $1.00 and set a “market perform” rating for the company in a research report on Thursday, May 9th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lion Electric has a consensus rating of “Moderate Buy” and a consensus target price of $1.74.

Lion Electric Price Performance

LEV stock opened at $0.90 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.65 and a quick ratio of 0.73. The stock has a market capitalization of $203.57 million, a P/E ratio of -1.84 and a beta of 2.17. The business has a 50-day moving average of $1.01 and a 200-day moving average of $1.40. Lion Electric has a fifty-two week low of $0.88 and a fifty-two week high of $2.68.

Lion Electric (NYSE:LEV) last posted its quarterly earnings data 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. The company had revenue of $55.48 million during the quarter, compared to analysts’ expectations of $71.82 million. Lion Electric had a negative return on equity of 18.99% and a negative net margin of 43.21%. On average, sell-side analysts anticipate that Lion Electric will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of Lion Electric

Several institutional investors and hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Lion Electric by 75.3% during the fourth 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. Victory Capital Management Inc. acquired a new stake in Lion Electric during the fourth quarter worth approximately $28,000. Atria Wealth Solutions Inc. grew its position in Lion Electric by 20.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 103,310 shares of the company’s stock worth $183,000 after buying an additional 17,285 shares in the last quarter. Alpine Global Management LLC acquired a new stake in Lion Electric during the third quarter worth approximately $34,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Lion Electric by 14.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 239,839 shares of the company’s stock worth $341,000 after buying an additional 30,050 shares in the last quarter. Institutional investors 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.