The Lion Electric Company (NYSE:LEV) Expected to Post Quarterly Sales of $15.30 Million

Analysts expect that The Lion Electric Company (NYSE:LEV) will report $15.30 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for The Lion Electric’s earnings, with the highest sales estimate coming in at $17.00 million and the lowest estimate coming in at $13.90 million. The company is scheduled to report its next earnings report before the market opens on Friday, August 13th.

On average, analysts expect that The Lion Electric will report full-year sales of $101.23 million for the current financial year, with estimates ranging from $74.10 million to $124.60 million. For the next fiscal year, analysts forecast that the firm will report sales of $371.23 million, with estimates ranging from $225.00 million to $506.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow The Lion Electric.

The Lion Electric (NYSE:LEV) last issued its earnings results on Monday, May 17th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.11). The company had revenue of $6.23 million for the quarter, compared to the consensus estimate of $5.40 million.

LEV has been the subject of several recent analyst reports. National Bank of Canada initiated coverage on shares of The Lion Electric in a report on Monday, May 17th. They issued an “outperform” rating and a $20.00 target price for the company. Zacks Investment Research cut shares of The Lion Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, July 13th. Raymond James initiated coverage on shares of The Lion Electric in a research note on Wednesday, June 16th. They issued a “market perform” rating and a $22.00 price target on the stock. Vertical Research cut shares of The Lion Electric from a “neutral” rating to a “sell” rating in a research note on Friday, July 9th. Finally, Desjardins initiated coverage on shares of The Lion Electric in a research note on Monday, May 17th. They issued a “buy” rating and a $26.00 price target on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The Lion Electric currently has an average rating of “Hold” and a consensus price target of $21.67.

The Lion Electric stock traded down $0.27 during mid-day trading on Friday, hitting $14.97. The stock had a trading volume of 18,841 shares, compared to its average volume of 984,004. The company has a 50 day moving average of $18.38. The Lion Electric has a one year low of $9.60 and a one year high of $35.25.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN purchased a new stake in shares of The Lion Electric during the 4th quarter valued at about $36,000. Cibc World Markets Corp bought a new position in The Lion Electric during the 1st quarter valued at about $102,000. Commonwealth Equity Services LLC bought a new position in The Lion Electric during the 1st quarter valued at about $190,000. Exos Asset Management LLC grew its holdings in The Lion Electric by 2,241.4% during the 1st quarter. Exos Asset Management LLC now owns 11,707 shares of the company’s stock valued at $191,000 after purchasing an additional 11,207 shares during the last quarter. Finally, Sandbox Financial Partners LLC bought a new position in The Lion Electric during the 1st quarter valued at about $230,000. Hedge funds and other institutional investors own 4.51% of the company’s stock.

About The Lion Electric

The Lion Electric Company manufactures all-electric medium and heavy-duty urban vehicles in North America. It primarily offers buses and trucks. The company is based in Saint-Jérôme, Canada.

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Earnings History and Estimates for The Lion Electric (NYSE:LEV)

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