Lion Electric (NYSE:LEV) Price Target Lowered to $1.00 at Barclays

Lion Electric (NYSE:LEV) had its target price reduced by Barclays from $2.00 to $1.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 0.20% from the stock’s previous close.

Several other research firms also recently weighed in on LEV. Roth Mkm decreased their target price on Lion Electric from $2.50 to $2.00 and set a “buy” rating for the company in a research report on Thursday. National Bankshares decreased their price objective on Lion Electric from $2.25 to $1.75 and set a “sector perform” rating for the company in a report on Friday, March 1st. 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. DA Davidson lowered their price objective on shares of Lion Electric from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Tuesday, March 5th. Finally, CIBC lowered their price objective on shares of Lion Electric from $1.70 to $1.40 and set a “neutral” rating for the company in a research note on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $1.99.

Lion Electric Trading Up 3.1 %

LEV traded up $0.03 during trading on Thursday, reaching $1.00. The company had a trading volume of 141,316 shares, compared to its average volume of 528,865. The stock has a market cap of $225.73 million, a P/E ratio of -2.17 and a beta of 2.12. The business has a 50 day simple moving average of $1.21 and a 200-day simple moving average of $1.55. Lion Electric has a 52 week low of $0.88 and a 52 week high of $2.68. The company has a quick ratio of 0.73, a current ratio of 2.45 and a debt-to-equity ratio of 0.62.

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

Hedge Funds Weigh In On Lion Electric

A number of large investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Lion Electric by 7.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 250,935 shares of the company’s stock worth $479,000 after purchasing an additional 16,356 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Lion Electric by 9.5% in the third 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 in the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of Lion Electric by 20.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 103,310 shares of the company’s stock valued at $183,000 after acquiring an additional 17,285 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Lion Electric by 50.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 31,829 shares of the company’s stock valued at $61,000 after acquiring an additional 10,610 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 valued at $52,000 after acquiring an additional 12,712 shares in the last quarter. 52.73% of the stock is currently owned by institutional investors.

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.