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

The Lion Electric Company (NYSE:LEV) has been given a consensus rating of “Hold” by the nine brokerages that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $1.52.

A number of brokerages have issued reports on LEV. DA Davidson reiterated a “neutral” rating and set a $1.00 price target (down previously from $1.50) on shares of Lion Electric in a research report on Monday, August 12th. Roth Capital downgraded Lion Electric from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st.

Lion Electric Trading Down 2.5 %

Shares of NYSE:LEV opened at $0.62 on Friday. The business’s 50-day moving average is $0.70 and its 200 day moving average is $0.85. Lion Electric has a 1 year low of $0.53 and a 1 year high of $1.99. The firm has a market capitalization of $140.05 million, a P/E ratio of -1.26 and a beta of 2.14. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.49 and a quick ratio of 0.53.

Lion Electric (NYSE:LEV) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The firm had revenue of $30.28 million during the quarter, compared to analyst estimates of $61.40 million. Lion Electric had a negative net margin of 51.81% and a negative return on equity of 26.26%. On average, research analysts predict that Lion Electric will post -0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lion Electric

A number of institutional investors have recently modified their holdings of LEV. XTX Topco Ltd acquired a new stake in shares of Lion Electric in the second quarter valued at $40,000. Cubist Systematic Strategies LLC purchased a new position in Lion Electric in the second quarter valued at $62,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Lion Electric by 14.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 239,839 shares of the company’s stock valued at $341,000 after purchasing an additional 30,050 shares during the period. 52.73% of the stock is owned by institutional investors and hedge funds.

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.