Lion Electric (NYSE:LEV) Upgraded to Strong-Buy by B. Riley

Lion Electric (NYSE:LEV) was upgraded by investment analysts at B. Riley to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

LEV has been the subject of several other reports. Roth Mkm decreased their price target on shares of Lion Electric from $2.50 to $2.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. DA Davidson cut their price target on Lion Electric from $3.50 to $1.50 and set a “buy” rating for the company in a report on Monday, May 13th. CIBC dropped their target price on Lion Electric from $1.70 to $1.40 and set a “neutral” rating for the company in a report on Monday, April 22nd. National Bank Financial cut Lion Electric from a “sec perform spec market wgt” rating to an “underperform spec market wgt” rating in a research report on Wednesday, May 8th. Finally, Desjardins cut Lion Electric from a “buy” rating to a “hold” rating and decreased their target price for the company from $4.00 to $2.50 in a research report on Friday, March 1st. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lion Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $1.74.

Lion Electric Stock Performance

Lion Electric stock opened at $0.90 on Tuesday. The company has a current ratio of 2.65, a quick ratio of 0.73 and a debt-to-equity ratio of 0.74. Lion Electric has a 1 year low of $0.88 and a 1 year high of $2.68. The company has a market cap of $203.57 million, a PE ratio of -1.84 and a beta of 2.17. The company’s 50-day moving average is $1.01 and its two-hundred day moving average is $1.40.

Lion Electric (NYSE:LEV) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The business had revenue of $55.48 million for 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 analysts anticipate that Lion Electric will post -0.31 earnings per share for the current year.

Hedge Funds Weigh In On Lion Electric

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Lion Electric by 14.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 239,839 shares of the company’s stock valued at $341,000 after purchasing an additional 30,050 shares during the period. Alpine Global Management LLC bought a new position in shares of Lion Electric in the third quarter worth about $34,000. Atria Wealth Solutions Inc. boosted its stake in 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 buying an additional 17,285 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Lion Electric in the 4th quarter valued at approximately $28,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Lion Electric by 75.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock valued at $52,000 after purchasing an additional 12,712 shares during 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.