Lion Electric (NYSE:LEV) Cut to “Hold” at Roth Capital

Roth Capital downgraded shares of Lion Electric (NYSE:LEV) from a strong-buy rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

Several other research analysts have also issued reports on LEV. DA Davidson dropped their target price on Lion Electric from $3.50 to $1.50 and set a buy rating for the company in a research report on Monday, May 13th. Roth Mkm cut their price objective on Lion Electric from $2.50 to $2.00 and set a buy rating on the stock in a research report on Thursday, May 9th. Barclays reduced their target price on Lion Electric from $2.00 to $1.00 and set an equal weight rating on the stock in a research note on Thursday, May 9th. 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 report on Wednesday, May 8th. Finally, CIBC reduced their price target 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. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $1.74.

Lion Electric Price Performance

LEV stock opened at $0.61 on Wednesday. Lion Electric has a 52 week low of $0.58 and a 52 week high of $2.40. The firm has a market capitalization of $137.09 million, a P/E ratio of -1.24 and a beta of 2.14. The company has a fifty day simple moving average of $0.95 and a two-hundred day simple moving average of $1.22. The company has a quick ratio of 0.73, a current ratio of 2.49 and a debt-to-equity ratio of 0.82.

Lion Electric (NYSE:LEV) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. Lion Electric had a negative net margin of 51.81% and a negative return on equity of 26.26%. The firm had revenue of $55.48 million during the quarter, compared to the consensus estimate of $71.82 million. Analysts anticipate that Lion Electric will post -0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lion Electric

Several institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. bought a new stake in Lion Electric during the 4th quarter valued at $28,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Lion Electric by 75.3% in the fourth 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. Atria Wealth Solutions Inc. raised its holdings in 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 purchasing an additional 17,285 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Lion Electric by 14.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 239,839 shares of the company’s stock valued at $341,000 after buying an additional 30,050 shares during the last quarter. 52.73% of the stock is owned by hedge funds and other 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.