Lion Electric (NYSE:LEV) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Lion Electric (NYSE:LEV) released its quarterly earnings results on Wednesday. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02), Zacks reports. The company had revenue of $30.63 million during the quarter, compared to the consensus estimate of $34.33 million. Lion Electric had a negative return on equity of 31.12% and a negative net margin of 74.35%. During the same period in the previous year, the company earned ($0.10) earnings per share.

Lion Electric Stock Down 15.8 %

LEV stock traded down $0.07 during trading on Friday, hitting $0.35. 1,340,444 shares of the stock traded hands, compared to its average volume of 190,761. The stock has a market cap of $78.50 million, a price-to-earnings ratio of -0.59 and a beta of 2.14. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.49 and a quick ratio of 0.53. Lion Electric has a 1 year low of $0.32 and a 1 year high of $1.99. The firm’s 50 day moving average is $0.67 and its two-hundred day moving average is $0.82.

Analyst Ratings Changes

LEV has been the subject of several research reports. Roth Capital lowered Lion Electric from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. BMO Capital Markets lowered their price objective on Lion Electric from $0.80 to $0.60 and set a “market perform” rating for the company in a research report on Friday. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $1.00 target price (down from $1.50) on shares of Lion Electric in a research report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $1.46.

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.