Lion Electric (NYSE:LEV) Earns Buy Rating from Roth Mkm

Lion Electric (NYSE:LEV)‘s stock had its “buy” rating reaffirmed by investment analysts at Roth Mkm in a note issued to investors on Tuesday, Benzinga reports. They currently have a $2.50 price target on the stock, down from their prior price target of $5.00. Roth Mkm’s target price suggests a potential upside of 164.91% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. DA Davidson dropped their price objective on shares of Lion Electric from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Desjardins lowered shares of Lion Electric from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $4.00 to $2.50 in a research note on Friday, March 1st. National Bankshares cut their price objective on shares of Lion Electric from $2.25 to $1.75 and set a “sector perform” rating on the stock in a report on Friday, March 1st. Finally, CIBC decreased their price objective on Lion Electric from $170.00 to $140.00 and set a “neutral” rating on the stock in a report on Monday. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $19.67.

Lion Electric Stock Down 0.7 %

NYSE:LEV traded down $0.01 during trading hours on Tuesday, reaching $0.94. The company had a trading volume of 490,067 shares, compared to its average volume of 516,356. The company has a quick ratio of 0.73, a current ratio of 2.45 and a debt-to-equity ratio of 0.62. The firm has a market cap of $213.45 million, a price-to-earnings ratio of -2.08 and a beta of 2.00. The business’s 50-day simple moving average is $1.40 and its two-hundred day simple moving average is $1.63. Lion Electric has a twelve month low of $0.92 and a twelve month high of $2.68.

Lion Electric (NYSE:LEV) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The business had revenue of $60.43 million during the quarter, compared to the consensus estimate of $93.39 million. Lion Electric had a negative net margin of 40.93% and a negative return on equity of 22.01%. On average, equities analysts expect that Lion Electric will post -0.25 earnings per share for the current year.

Institutional Trading of Lion Electric

Several hedge funds and other institutional investors have recently modified their holdings of LEV. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Lion Electric by 50.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 31,829 shares of the company’s stock valued at $61,000 after buying an additional 10,610 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Lion Electric by 75.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock valued at $52,000 after buying an additional 12,712 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in Lion Electric in the 4th quarter worth approximately $28,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Lion Electric by 7.0% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 250,935 shares of the company’s stock valued at $479,000 after purchasing an additional 16,356 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew 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 acquiring an additional 16,683 shares during the last quarter. 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.