Lion Electric (NYSE:LEV) Price Target Cut to $1.40

Lion Electric (NYSE:LEV) had its target price dropped by research analysts at CIBC from $1.70 to $1.40 in a research note issued on Monday, Marketbeat Ratings reports. The firm currently has a “neutral” rating on the stock. CIBC’s price target would suggest a potential upside of 49.43% from the stock’s previous close.

LEV has been the subject of a number of other research reports. Desjardins lowered Lion Electric from a “buy” rating to a “hold” rating and lowered their target price for the company from $4.00 to $2.50 in a research note on Friday, March 1st. DA Davidson cut their target price 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. Finally, National Bankshares lowered their price target on shares of Lion Electric from $2.25 to $1.75 and set a “sector perform” rating for the company in a report on Friday, March 1st. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2.34.

Lion Electric Trading Down 1.4 %

LEV stock opened at $0.94 on Monday. The company has a market capitalization of $211.91 million, a PE ratio of -2.04 and a beta of 2.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 2.45. Lion Electric has a one year low of $0.92 and a one year high of $2.68. The company’s 50 day moving average price is $1.38 and its two-hundred day moving average price is $1.62.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LEV. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Lion Electric by 50.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,829 shares of the company’s stock valued at $61,000 after purchasing an additional 10,610 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in 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 acquiring an additional 12,712 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Lion Electric during the 4th quarter worth approximately $28,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Lion Electric by 7.0% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 250,935 shares of the company’s stock worth $479,000 after acquiring an additional 16,356 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Lion Electric by 9.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 191,436 shares of the company’s stock valued at $366,000 after purchasing an additional 16,683 shares in the last quarter. 52.73% of the stock is currently owned by institutional investors.

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.