Lion Electric (NYSE:LEV) Downgraded to “Hold” at Desjardins

Desjardins lowered shares of Lion Electric (NYSE:LEVFree Report) from a buy rating to a hold rating in a research note issued to investors on Friday morning, Marketbeat.com reports. Desjardins currently has $2.50 price target on the stock, down from their prior price target of $4.00.

A number of other brokerages have also recently commented on LEV. 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 research note on Friday. National Bank Financial cut Lion Electric from an outperform spec market weight rating to a sec perform spec market wgt rating in a research note on Tuesday, November 7th. CIBC decreased their price objective on Lion Electric from $2.00 to $1.70 and set a neutral rating for the company in a research note on Friday. Finally, Barclays reduced their target price on Lion Electric from $3.00 to $2.00 and set an equal weight rating on the stock in a report on Tuesday, November 14th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $2.84.

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Lion Electric Stock Down 5.2 %

NYSE LEV opened at $1.38 on Friday. The stock has a fifty day moving average of $1.75 and a 200-day moving average of $1.81. Lion Electric has a 52 week low of $1.34 and a 52 week high of $2.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.45 and a quick ratio of 0.73.

Lion Electric (NYSE:LEVGet Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $60.43 million for the quarter, compared to analyst estimates of $93.39 million. Analysts forecast that Lion Electric will post -0.25 EPS for the current year.

Institutional Trading of Lion Electric

Institutional investors have recently modified their holdings of the company. HBK Sorce Advisory LLC bought a new stake in shares of Lion Electric in the first quarter valued at about $32,000. XTX Topco Ltd bought a new stake in shares of Lion Electric in the first quarter valued at about $96,000. Prelude Capital Management LLC bought a new stake in shares of Lion Electric in the second quarter valued at about $52,000. Legal & General Group Plc lifted its holdings in shares of Lion Electric by 70.6% in the fourth quarter. Legal & General Group Plc now owns 13,880 shares of the company’s stock valued at $31,000 after purchasing an additional 5,744 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new stake in shares of Lion Electric in the first quarter valued at about $26,000. 51.06% of the stock is currently owned by institutional investors.

About Lion Electric

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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 also distributes truck and bus parts, as well as accessories.

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