Brokerages Set The Lion Electric Company (NYSE:LEV) PT at $1.74

The Lion Electric Company (NYSE:LEV) has earned an average recommendation of “Hold” from the seven analysts that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $1.74.

A number of equities research analysts recently commented on LEV shares. National Bank Financial cut shares of Lion Electric from a “sec perform spec market wgt” rating to an “underperform spec market wgt” rating in a research note on Wednesday, May 8th. National Bankshares lowered 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 research note on Friday, March 1st. Desjardins cut shares of Lion Electric from a “buy” rating to a “hold” rating and lowered their price objective for the company from $4.00 to $2.50 in a research note on Friday, March 1st. BMO Capital Markets lowered their price objective on shares of Lion Electric from $2.00 to $1.00 and set a “market perform” rating on the stock in a research note on Thursday, May 9th. Finally, CIBC lowered their price objective on shares of Lion Electric from $1.70 to $1.40 and set a “neutral” rating on the stock in a research note on Monday, April 22nd.

Institutional Investors Weigh In On Lion Electric

Several hedge funds have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of 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 worth $341,000 after acquiring an additional 30,050 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Lion Electric in the fourth quarter worth approximately $28,000. Atria Wealth Solutions Inc. boosted its position in shares of Lion Electric by 20.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 103,310 shares of the company’s stock worth $183,000 after acquiring an additional 17,285 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Lion Electric by 75.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock worth $52,000 after acquiring an additional 12,712 shares during the last quarter. Finally, Alpine Global Management LLC acquired a new stake in shares of Lion Electric in the third quarter worth approximately $34,000. 52.73% of the stock is owned by institutional investors and hedge funds.

Lion Electric Stock Performance

Shares of LEV opened at $0.90 on Monday. The company has a 50-day simple moving average of $1.01 and a 200-day simple moving average of $1.40. The company has a quick ratio of 0.73, a current ratio of 2.65 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $203.56 million, a PE ratio of -1.84 and a beta of 2.17. Lion Electric has a 52-week low of $0.88 and a 52-week high of $2.68.

Lion Electric (NYSE:LEV) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The business had revenue of $55.48 million during the quarter, compared to the consensus estimate of $71.82 million. Lion Electric had a negative net margin of 43.21% and a negative return on equity of 18.99%. Equities research analysts predict that Lion Electric will post -0.31 earnings per share for the current fiscal year.

Lion Electric Company Profile

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.